All Forum Posts by: Mark Hart

@Horeb Gallardo Property management is key as it can make or break your investment in the long run. I'd recommend reading Brandon Turner's book on managing rental properties to start. 

https://www.biggerpockets.com/store/the-book-on-managing-rental-properties-digital

I agree with @Caleb Heimsoth search older threads this has been discussed in detail. 

@Alex Saepharn I agree with @Clayton Mobley as there is a vast difference between returns on paper and actual returns. I would focus on investing in less properties but in the best neighborhood possible where the cash flow is large enough to make you sleep at night. 

I'd also purchase with your exit strategy in mind. If you focus on lower end properties then you'll only be able to sell to other investors who focus on the returns of the asset. By focusing on homeowner neighborhoods you'll be able to sell the property for top dollar to an emotional owner occupant upon tenant turnover after upgrading the bathrooms and kitchen. Even if you chose not to at least you have the option and in real estate make it a priority to have as many options as possible.

The downside to that method is you could only sell each property one at a time since it is based on when the tenant leaves. This means you wouldn't be able to sell the entire portfolio and 1031 into an apartment building etc. 

Happy Investing!

I agree with@Mike Taravella because it all depends on how involved you'd like to be in the process. 

Since your long term strategy is to be a GP in larger investments i'd recommend starting small and getting your hands dirty by renovating a few SFR's with OPM. Then move up to larger investments with the same team and most importantly the same private investors. The more successful deals you can do for an investor the more they will be a raving fan and after a few decades you'll be dealing with 100 + unit buildings!

Good luck and keep us updated on your progress! @Jon Schwartz

@Matt Hoffman Dean is correct there are sweet spots in Memphis where you'll only need to pay county taxes. This will reduce your annual tax bill and boost your cash flow! 

Congratulations on your success! House Hacking is a fantastic way to get into the game!

@Ankur Jain I hope he bought 3 years ago! 

Hey Samuel,

Every Wednesday morning at 7:30 a dozen or more investors meet at City and State coffee on Broad Ave to talk about everything Real Estate Investing! 

@Joan-Marie Pagan Keep in mind some conventional lenders will have a minimum loan amount and we always recommend buying less properties in better areas for long-term cashflow!

@Michael P.  Let us know what you find out !