All Forum Posts by: Moises Rodriguez

It can be, but many people have figured out how to do it. Personally, we have all of our LTRs under property management. That includes out of state and even those right here in our own town. For the small 8-10% fee they charge us, it's more than worth it to us. However, we self-manage our MTR (local to us) and our STR (in North Carolina) so I can say based on experience that it can work either way. You could also consider a partnership with someone to show you the ropes. You bring some capital and they do the property management but with the understanding that you want access to all the books and visibility into the process so you start to understand how you could take it on yourself or get enough insider's info to decide you want to outsource it.

First, congratulations on paying off your home. That's very impressive! The VA loan is such a powerful tool. Are you focused on multifamily because you want something you can house hack? Have you looked for a SFH with an ADU as an alternative to multi-family? You might find something less expensive and it would still allow you to either live in the smaller unit and rent out the larger one or live in the larger and rent the smaller one to off set your expenses.

@Moises Rodriguez

I was a Dave Ramsey guy and paid off my first two rentals. Was paying my primary mortgage off aggressively too which was the dumbest thing I've done. Lol. Then I learned the power of leverage and using OPM to scale up and build legacy wealth. I did a cash out refi on my primary to buy 3 great cash flowing rentals with 20% down on each. I did cash out refis on my paid off rentals and used that cash to buy 6 rentals. I've bought 12 rentals for free (no out of pocket $ for down payments and closing costs) from equity in other properties just sitting there doing nothing for me. I'm a fan of using built up equity to acquire more and more cash flowing properties with zero out of pocket expenses. I'd do a cash out refi on your primary to buy rentals or at least a HELOC. I went from two paid off rentals 5 years ago which only cash flowed me around $1500/month to 18 rentals that cash flow me 13k/month. Use leverage to your advantage and let your tenants pay off your mortgages.

Hey there @Moises Rodriguez what area are you looking in? You can find some off market properties as well with private lender even though the interest rates will be higher. Are you trying to invest in Rancho Cordova area? I have helped many Bay Area investors in Sacramento areas/Roseville/Rocklin/Yuba area. I can also refer you to my lender if you need more information. I always work with mortgage brokers not banks. Let me know if Can be any help. All the best!

Hey Moises, sounds like a good problem to have. I'd recommend either house hacking a small multi family property, or consider hard money. Hard money will allow you to get into the property with less money down, possible fund any rehab or construction costs as well. The key to hard money, is buying where there is enough value add to ensure that when you refinance out of the hard money loan, that the ARV will be 75% LTV. So essentially buying it significantly below market value or create enough value add to push ARV. Let me know if you'd like to chat about this further. Best of luck!

Hey Moises! I am a local real estate broker, investor, and I manage over 100 investment properties for my clients. 

There are so many ways to jump in, it's quite a thrill. One option would be a "house hack," wherein you live in one unit on a multifamily property and rent the others, or you can even live in one BEDROOM of the property and rent the remainder. 

I also specialize in Airbnbs and STR. With the market being so inflated and uncertain, we find that STR and MTR are the best ways to maximize cashflow and ensure you're in the black each month.

Holler at me any time! My line is always open. Hardinpm.com