All Forum Posts by: Matt Brooks

My wife and I have opened an LLC and purchased our first SFH rental. We are now looking to purchase a Quadplex. I have read that some people finance this under an LLC, while others may choose to purchase as a residential property under personal name being it is under five units? How would those of you who have purchased Quadplex properties suggest financing them? Thanks in advance for helping a rookie!!!!

My wife and I closed on our first single family rental!! Everyone always post that the first one is the hardest to close and I would agree. I was probably the worst at over analyzing and overthinking. However, we found a great renter prior to even closing. What a great feeling! Thank you BiggerPockets for all the advice and tips along the way! Our goal is to close 5-10 more within the next year. Stay tuned!

Thanks for the advice! Based on this strategy would it be best to work to purchase a third property with the same money? In other words leveraging the cash to buy as many properties as possible?

I have approximately $40k cash to invest. I am debating, and over analyzing, if I should: Pay cash and outright own one property? Would cash flow around $600/month. Pay 20% down on two homes in the $80-90k range. Each would rent for around $850-$1000/month. If both stay rented this would cash flow more than first option but also riskier with vacancies. Advice??

Mike H. , hoping you can give me a little advice here being you have already given me great advice thus far. Building the duplexes is still an option but costs will be $175k for the duplex, 10 yr note, amortized 30 year payments. Duplexes would rent for $850 per unit. I have approximately $45k cash. I have also considered purchasing single family homes. If I go this route am I better to find a good deal and pay cash for one house and own it or finance two different houses with 20% down. I understand your strategy to be single family homes. In essence I’m looking at three options: 1) Build the duplex 2) Find a good deal in $45k range and pay cash 1) Put 20% down and finance a couple rent houses Thoughts? Thank you!

Mike H. One other item to note is the water bill runs $95/month with three tenants. The annual taxes are $1500.

Mike H. Thanks for the advice, a few things to mention: I will be self managing the property- my father is a retired maintenance man, is currently bored and wants something to do. I do think the rents are below market value by at least $50/month. There is o e tenant currently leaving in one unit that has been living at property since very beginning. He wanted to purchase property but did not have the cash for down payment. This could possibly be an exit strategy if needed...

I have plugged everything in, very conservative and cash flow is around $300/month, or 12% cash on cash return. Is this a good deal? This was considering $165/month for property management I won't really be paying but wanted to view thru a conservative viewpoint.

All great advice and thank you! The unit is in a 15k population town with a small junior college. My father in law will be managing, I built in 10% to look at the unit as if I did not have someone like him to manage for me. There is very little yard to maintain as most is paved concrete parking. Great questions and again thank you!

Hello BiggerPockets! I am new to rental property and/or multi family property and would appreciate anyone's advice on the below opportunity I am looking at purchasing:

I am looking at a 7 year old triplex unit in TX. The negotiated price is $115k. My local bank is offering 15% down, 7 year note, 30 year amortization. Details with triplex are:

100% occupied, all on one year leases 
7 years old, all brick unit 
3-one bedroom/one bath units 
$550/month rent each-$1650/month Landlord pays water/trash- $125

Taxes- $145 


Insurance- $100 ?? 


Property Mgmt- $165 


Vacancy- $165

With your experience would you consider this to be a solid first multifamily investment? It seems to be from my end, however, I am newer to figuring multifamily investments. Thanks for your help!!