All Forum Posts by: Michael S.

@Elisha Johnston - two things to definitely consider:

1.  If your tenants know you're in medical school, they will automatically assume you have money - which may not be the case at all, but it's a stereotype you won't be able to avoid.  Very likely they will be more demanding with excessive requests for repairs/upgrades or even threats of lawsuits.

2.  Last week, one of my properties had an old HVAC go out.  It cost over $8k to replace.  There was no other option.  If you house hack, and get called tomorrow to replace an HVAC or a roof, or the septic line needs major repairs, etc - how will you fund this?  Can you afford that kind of significant expense on the fly?

@Elisha Johnston - while I think it's great that you want to start REI early, I'd recommend renting and focusing on school - you will have plenty of opportunities for REI during your career.

@Sushil Gupta - that's like asking which tech company will be the next google - if we knew the answer, everyone would be buying properties there right now.  

@Samuel Coronado - that sounds like it was fairly worthwhile then.  I may have to check it out in the future.  Sarah Taggert seems to be the local eviction expert here, so that was likely very insightful information.  

@Carissa Atendido  
"My target price is $300K or below, and I’ve been looking in Nashville, Austin, Dallas, and Atlanta" - you are 10 years too late on that search.  

Is your local market is not a viable option?  Sourcing off market properties in your local market might be a good next step to try.  That's the only thing that has worked for us recently (and by recent, I mean literally in the past 2 months - there was almost nothing here for the past 18 months)

@Michael Ewers  @Samuel Coronado 

What has been your experience with Deal Maker - Huntsville? Have you actually sourced any deals from this group, or is like the other facebook groups in this area where it is basically agents putting up their MLS listings and random individuals peddling wholesale deals that are not even worth considering?

@KR Francis - would not recommend spending time looking in Huntsville.  

New higher end MF is overbuilt here.  

The lower end MF is selling for a premium despite this.   

There are better markets to look for your next MF investment in this regard.   

@Terrance Hill  @Kyle Wheeler 

Gentlemen, you both specifically mention Huntsville as a "friendly" or "solid" market for BRRRR. Can you please share some details of the deals you have done in Huntsville anytime over the past 2 years to validate this claim (preferrably not in a D neighborhood)? You must have some great sources for off-market deals here, as well as funding.

@Reilly Casey - true story for you.  This occured in 2017.  When I told my wife I was going to start investing in real estate, she told me I was crazy to do it and was not a fan.  She told her mom about it after my business partner and I had a contract on our first property, and her mom saw the house and how amazing the location was (mid century modern property in the heart of Jones Valley), and asked if she could be our tenant when it was ready.  The expression on my wife's face when her mom said that was absolutely priceless.    

@Raza Dhanji - what happened to the cash flow?  Did you not apply any of it to loan principal given that you were in a short term interest-only loan?