All Forum Posts by: Account Closed

I'm PCSing to fort wainwright Alaska. I was wondering if anyone had insight on if I should buy or rent on post. We are unfamiliar with the harsh winters and my wife is a little worried about ownership in this environment. Also If anyone has experience in obtaining good cash flow properties and if the numbers make sense in Fairbanks. I'm very interested in obtaining a Multi-Family with my VA loan.

Hey @Scott L. - I just use around 2%-3% to keep up with inflation. But I also generally am investing in pure cash flow markets (The Midwest...except for some recent investments in Phoenix).

If you stay around that 2-3% range, what's the worst that can happen? You are pleasantly surprised with a few extra percentage points of appreciation if Denver keeps booming.

A quick Google search also shows that Denver appreciation rate is a little down this year (at 1.7%): https://www.denverpost.com/2020/01/02/denver-metro-housing-market-2020/

Generally speaking, the way this works is you tell us about yourself and what you have and we decide whether it's worth our time to involve ourselves in a discussion. Tell us how long you've been in real estate, what you have done, what type of assets you are targeting, and what your business plan is. 

@Brenden Mitchum

I appreciate the info! What would you suggest me to do if I can’t count the rent as income if I work a minimum wage job part-time while being in college full time?

Somewhat hypothetical question. If you had $250k to start with. Could you turn that into $5k+ a month? How (generally or specifically) would you do it? Thanks!

 I'm at California price points so it may work out differently, but I've never seen a college student working part time able to qualify for, well, anything.

If you're a rehabber, what is the best way to learn how to do tiling?  Install cabinets & new flooring?  When I quit my 9 to 5, I plan to be hands on!  

@Mike M. 

Hi Mike

I’m a in Gilbert Az. and researching. I just recently found a tax advisor/cpa company that is very competent in real estate. It involves every other week mtgs, strategizing, planning etc. and they charge close to $10k upfront for initial 6 months and continuing fees(which is understandable). Is this normal structure for tax advising and cpa services?

Hey everyone!

I've been lurking here for a few years now, but I've finally resolved to buy my first property this year! I'm a buy-and-hold investor looking to invest in single & multifamily properties out of state. Ideally, I'd like to target A/B class properties with a minimum rent of $900/month and a levered cashflow of $200/unit while maximizing CoC returns. Does anyone have any recommendations for markets where these types of deals can be easily attainable?

I'm currently considering St. Louis, Indianapolis, and Cleveland and would appreciate any referrals for property managers or agents. Thanks, Evan

@Jordan Bowley Our lender is a portfolio lender I don't think you could do that with a regular non-commercial lender-- We use a regional bank, Wayne Savings. The down sides I can see for these types of deals are exit strategy, all of our properties are tied up together and we have less flexibility to get out a particular property, and having all our assets tied to a single lender means that if one deal goes south every thing tied to it can go south as well.  In addition, we are personally guaranteed. It is a risk and it is not an insignificant risk. Where we are in our business, If we want to grow now rather than later,  and we do, it is for us the best risk alternative; other types of risk, (partners, hard-money (no personal guarantees but higher interest, or more depleted personal cash reserves), are all less attractive to us .  Everyday people take risks that would terrify me: doing things like flipping with hard money, or funding deals using "other people's money." That doesn't mean they're wrong-- They are just willing to tolerate different risks than me. Everyone has to figure out what type and level of risk they can live with.

Also, everyone I talked to wanted a personal guarantee for LLC real estate purchases (except some hard money places with really high rates). Did you find a reputable lender doing LLC loans at reasonable rates without a personal guarantee? what type of assets and history did they require?