All Forum Posts by: Mark Douglas

@Rylan Kean  No I didn't lol will PM you !

@Erica Shaunta Thompson  @David Lecko Yes, I've had some success with Thumbtack, Takl, Homeadvisor, etc.   Will have to look into Taskrabbit. Thanks !

Looking for a recommendation for a handyman in this area?

Whitney Tutt Congratulations, so exciting!! If you're self-managing, you may want to look into a software like Buildium, RentecDirect, AppFolio, etc. to help you keep everything organized. It's been a lifesaver for me. One thing I'm trying to focus on with real estate investing is lifestyle design. Personally, I don't like paper checks, paper leases, paper anything lol so enabling the tenants to sign leases, submit maintenance requests and pay rent online has been huge for me. It also adds another layer of professionalism to the business. Also the accounting is much easier during tax season! As you've already found, BP is a phenomenal resource for this stuff, so be sure to stay plugged in here as well as in your local area! I wish you all the best !

Billie Miller Everett Fujii That makes sense, I guess I just need to go back to the basics , just focus on the location and the cash flow will follow. Thanks !

I'm in a pretty competitive market (Nashville, TN) and am beginning to broaden my search into secondary and tertiary markets to look for properties, at the sacrifice of NOI. The further away from the MSA, the lower the rents are.

I know that at the end of the day, cash flow is extremely important.  I'm just wondering, from an occupancy rate standpoint, is there not a benefit to having a higher unit count?

Example:

A 4plex in the city rents for $925/mo/unit, bringing a gross of $3,700/mo.  One vacancy would temporarily reduce the gross income to $2,775/mo.  Some factors to consider are (likely) shorter vacancy time, larger applicant pool, etc.

A 8plex in a further out (borderline rural) area might rent for $500/mo/unit, bringing in $4,000/mo.  Even two vacancies would leave the gross income at $3,000/mo.  Factors here might be a longer vacancy, lower applicant pool, etc.

I know there isn't a 'one size fits all' answer here, but which side to you tend to fall on: higher rents, or higher units?

Eric Hyde will PM you

Eric Hyde I was referring to multifamily residences (MFR). Single families will run around $100-$120ish in an average working class neighborhood.

Eric Hyde For MFRs, sub $50k/unit isn't uncommon. 2bd rents avg $525-$625 depending on the usual factors like location, condition, demand, amenities, etc. Not impossible to find a 1% deal. 2% is a little harder to find though.

Eric Hyde CF in Nashville can be a little slim if you're only looking at MLS opportunities. Clarksville rents are lower, but the price points are reduced as well. I'm in both markets.