All Forum Posts by: Michael Kistner

@William Coulter

   Feel free to reach out I'm always up for networking.

- Mike

@James Brunetto, jr

  For buy and hold properties I absolutely look for cash flow. 

  For areas I like for growing population and a stable economy. What are the top companies there and what’s going to keep people going there. 

  Then I go deeper and look for nice neighborhoods. If you’re investing out of state you’ll need a team you can trust even if you plan on visiting the area before purchasing. 

  Hope this helps!

- Mike

@Account Closed

  I like index funds and stocks that pay dividends. I focus on dividend kings and aristocrats along with a couple REITs. 

  I take the free money my company offers for my 401K but with were I’m at I want to have my cash now. Depending on where you are with retirement you may want to max out your retirement accounts. 

  Nothing wrong with diversifying your investments!

- Mike

@Zac Boelkow It’s all personal preference. Do you want to avoid debt or do you want to scale? I’d personally pull it out to scale but everyone’s situation is different. You just have to ask yourself what you want and then go from there. Good luck and congrats!! - Mike

@Antonio Walton

   I always recommend reading “The intelligent Investor” - Benjamin Graham and “Long-Distance Real Estate Investing” - David Greene

    Two solid books for buy and hold investors. Don’t hesitate to post the questions you have on here. Everyone’s very helpful. Good luck!

- Mike

@Account Closed

   To use your deal as the argument for real estate over the stock market is a fallacy. For every good real estate deal there’s a guy who bought a penny stock that hit making the opposite argument. 

  The stock market is historically safer than the real estate market. 

https://www.investopedia.com/ask/answers/052015/which-has-performed-better-historically-stock-market-or-real-estate.asp

   And saying one is better than the other is a waste of time. They both have their place and a great way to diversify money. 

   With all that said congrats on your deal! That’s a solid score and something to be proud of. 

 - Mike

@Ondrej Gargula

  Welcome to BP! I actually have location rentals managing my properties in Lubbock. You’re in good hands over there. 

   Being an out of state investor I needed a property manager. I self manage in California and like others have said, how do you value your time? That’s how I look at it. Once it becomes too much work here I’ll hire a property manager. Hard to put an exact figure on it. 

- Mike

@David Phillips

   Like @Aaron K. has said, there’s very little info here. 

    If you’re a contractor you could provide a lot of value to an investor. 

I’d start with where you’re from, your construction qualification’s and have a clear goal on what you want to accomplish. 

   Good luck!

- Mike

@David Medina

Living in one unit of a small 2-4 unit property qualifies as a house hack. It's a great way to get more units starting especially with little funds. Offers better tax benefits than a SFR and you can move out after a year and still be able to put 3.5-5% down on a SFR that next year.

   If you know an out of state, build a team, and get qualified with a lender to refinance a deal, I don’t think there’s anything wrong with using hard money. 

   You’ll want to find a lender that doesn’t require you to season your loan and finances on appraised value not purchase price. 

   The risk here is you buy a property using hard money and it appraises for less than you were expecting and you have to come up with more than expecting to during the refinance. 

  - Mike

@Jake Thompson

Keep the property until you get a job, save up and do one BRRR strategy.

   After that if you think pulling out the $40K is still worth it go for it. But like others have said, getting $500 a door passive income is the goal. 

   I hear investors come up with these ideas more because they want to be busy doing deals. Enjoy where you’re at. When you get busy you’ll appreciate that passive $1K a month. 

- Mike