All Forum Posts by: Mitch Casey

@Aidan Mulligan this is great insight and info. Much appreciated!

@Aidan Mulligan also is that structure above similar to SFH? Or just MFH? Because usually the tenants pay utilities in SFH rentals right? And how does maintenance usually work for SFH? What are the tenants usually expected to take on vs. the landlord?

@Aidan Mulligan and CapX is basically the amount of money you should be putting aside in a slush fund to plan for a larger need maintenance fix correct?

@Aidan Mulligan that's very helpful. Thanks for the input!

What are all the expenses that needed to be planned for in a rental property? What is a healthy monthly / annually percentage to plan for?

@Jason L. absolutely. Totally agree and well put. Appreciate the advice.

@Deanna O. appreciate the post and the insight. Well said. I would agree that the podcasts, articles, books, etc. make the BRRRR method seem easy and that anyone and everyone can do it tomorrow. If that was the case, everyone would be doing it tomorrow. I do agree that anyone and everyone can do it, but it takes research, practice, and sacrifice, whether that be putting in the work or leaving some money in the deal. For me at this point, I'm not concerned with leaving money in the deal as long as the ROI makes sense on the cash flow and the equity works. Love the comment by Edison, perfectly put. Thanks for the support.

@Simeon Miller those are really good points. I appreciate the insight. I am beginning to try and build a network of those who could potentially help me with out-of-state properties.

@Curtis Rasmussen not at all. We are going to move out of our current home in Herriman, which we currently rent out the basement, and then rent out the top part as well. Based on the current rental rates we could cash flow really nice. We are then wanting to move into another property, 3.5% down and occupy the top with a basement rental or half of a duplex. Basically, gain another property while decreasing our current payment. Then hoping to come across a property that might fit the bill for a BRRRR. Then, just repeat the process again. Get another home to move into in 6-12 months, rent out the last property and so on. Sounds similar to what is working for you. It doesn't scale as quickly and you end up leaving some in the properties, but it seems like the most effective strategy given the market right now until some gems come around for a BRRRR opportunity. But, if they do come around they seem to go like hot cakes. So, I am now looking to expand my network and try to find some BRRRR opportunities out of state.

@Tanner Marsey that's great insight and I am definitely coming to the realization of what is doable and better managing my expectations and seeing what is plausible.

@Nathan Slemmons really appreciate the feedback and insight. All great points. Not going to give up at all, that's not in my DNA. We'll make it happen, just wanting to make sure we do it in the most effective way possible. 

We have started looking for multi-family as well, so that's a great strategy tip! Much appreciated on the note!