All Forum Posts by: Mike Sfera

@Nicholas L.Thanks. If im out of state, does it make sense to join social media groups, etc. to accomplish the same thing without being physically there? Trying find ways to get some guidance once I settle on a location since I'm new to this.

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If I'm a first time rental investor, will I be able to hire a property manager to help me with research, etc. prior to getting my first property or will they only work with you if you already have a property?

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Quote from @Michael Garofalo:

Everyone has different opinions on this and it really comes down to personal preference. For me personally, I would not take on a mortgage if it was going to cause the property to be cash flow negative. If it won't cash flow at 25% down or less, it's probably not worth your time.

My strategy has been to grow aggressively (by using as little of my own money as possible) to secure good assets, and once stabilized, then work to pay down loans to own them free and clear sooner rather than later.

A lot of people under-estimate how much work is involved with owning real estate, especially if you go the route of self-managing. For me, I'd rather have fewer doors owned outright that allow me to achieve my personal financial goals than having a large number of doors fully leveraged with less cash flow per door.

What if I can afford more than 25% or even pay for it outright and it cash flows?

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Quote from @Michael Garofalo:

What if I can afford more than 25% or even pay for it outright and it cash flows?

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Thanks. The way I was looking at it was if I can get a property free and clear quickly that then cash flows, I can then use that cash flow to save for the next property which I can finance and then use the extra cash to pay the loan off quicker on the 2nd house.

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Are there any good resources online to be able to get an idea of average monthly/yearly expenses like utilities, etc. for a given zip or city?

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Hi all, first time poster trying to learn before I buy my first rental property. Question is, if I have the means to put a high enough down payment on a house to be cash flow positive (assuming my expense estimates are accurate, etc.) is that something that I should do? I know that my COC my be lower, etc but my main concern since its my first property is being cash flow positive. Thanks in advance!

1 Vote

All Forum Posts by: Mike Sfera

Mike Sfera has started 8 posts and replied 17 times.

Post: When to get a property manager

Post: When to get a property manager

Post: Right Down Payment Amount??

Post: Right Down Payment Amount??

Post: Right Down Payment Amount??

Post: Expense Estimate Resources

Post: Right Down Payment Amount??