All Forum Posts by: Mike Plitsch

Good morning Craig,

Thank you for your suggestions and opinions. You are correct in that the houses we rent in Mobile are more of an appreciation investment. We are probably going to still keep looking in Mobile for flip opportunities as we are more knowledgeable in that area when it comes to the housing market. I have been talking to other investors/agents in the area as well in which we have talked about possibly going in on certain deals together. I am a sweat equity guy so I can do a lot of work myself. I'm thinking this may be the best choice (flipping) to slowly build up capital. This in turn will allow us to pick up more rentals progressively in the long run for appreciation/long term investments.

We know a little bit about the market in NOLA, yet not enough to jump on something right away. I have heard, like you had said, that the market in NOLA has probably reached or even surpassed its' tipping point. In any case, probably not a bad idea to do some research when we move there. In retrospect, there are many areas in the NOLA area that are in a transition were a market that once was bad, is now a hot spot to invest in. Do you have any recommendations on how to connect with some more people who share the same investment goals in the NOLA area (meetings, clubs, etc.)?

Thank you again for your input Craig!

I agree with you Anson. Just make sure you conduct a thorough screening for a good tenant who will be living in the other unit(s).

Hello all,

My name is Mike and I am new to BP but wanted to get opinions from some of the more seasoned investors out there. My wife and I have been getting involved with real estate for a little over a year now. Our success, as of now, has been fairly good. We own two rental incomes in Mobile, AL and are about to close on our first flip as well which is bringing in a good profit for a first time flip. We are also planning on moving to New Orleans within the next couple of months and are considering a duplex which we would live in (rent out the other unit to offset or completely cover the mortgage). We are an LLC holdings company and we likely be using some money from the flip for a down payment, but more important, will be redistributing money for estimated taxes, insurance, repairs on our current rentals in separate accounts.

Our business model revolves around the least amount of debt as possible (credit cards, mortgages, car payments etc.). So with that said, we are torn if whether another flip is the best route or continue driving towards more rental properties.

Thank you for any advice or suggestions!

R/

Mike