All Forum Posts by: Patrick Kelley

I just started a non-profit in Massachusetts that will provide shared housing for individuals that would otherwise be homeless. Ideally, I would like to work with investors who would be interested in renting a SFH that would be a minimum of 4 bedrooms, 2+ baths, 2250+sf, to my non-profit. In exchange, I would pay above market rent and would also pay towards repairs that need to be made on the home. The owner still gets all of the benefits of having a rental including cash flow, depreciation, appreciation, mortgage pay down, and leverage. What is the best way for me to find investors who would be interested in partnering with me? I'm assuming most realtors would not want to help since their commission won't be as big as if they sold the house. And, I'm not sure if it would be advantageous for me to look for the property management company since I believe they are mainly just in the city. I'm mainly interested in southeastern Massachusetts or Metrowest area.

My apologies all. I should have read posts in this forum first. Unfortunately, I cannot delete this, but for those reading it, please feel free to ignore.

Hello All - I am just starting my real estate investment journey and want to make sure I do this the right way. I am looking for recommendations for a financial planner/CPA that is knowledgeable in both REI! but also in stock. Preferably someone in Massachusetts or Rhode Island, but open if I can find someone who I feel would be a great partner.

Please put your recommendations below. And, please let me know why you recommend them. Some information on what they've done for you would be very helpful.

Can't wait to read the responses!

@Michael Hayworth - Thank you for the information.  That is a food question.  I don't think I would be able to do $100k per year, but I might be able to do it every couple of years.  Or, said different, maybe I would be able to get one house per year and build that way.  I think the $1k for every $100k I invest is a good rule of thumb.  Like @Daniel Petta, I am thinking of higher cash flow rather than appreciation.  if you have suggestions on markets I should look in, I would definitely like to hear it!

@Antonio Cucciniello - Thanks for the advice.  I would completely agree with you.  Especially where my plan right now is to buy and hold (probably forever), I would agree for cash flow over appreciation.  Are there certain markets that you would recommend that could bring in the highest amount of cash flow for a $100k property (assuming that I'll get about 3 of them with the money I have)?

@Timothy Lewis - Thank you for the feedback!  I would love to listen to any podcasts that people suggest.  However, when I click on the links you provided below, it seems like they go to a library rather than a certain podcast.  Are there certain numbers you suggest and I can search for them?

@Wade - Thanks for the information.  Don’t think you’re crazy at all!  I am definitely planning on using leverage - how else would I be able to get to my dream of $10k/mo if I only buy one property with all cash?!  To clarify, I am looking at out of state as if I buy a property in my local area, I would need to use that full $100k just for the 20% down payment.  By going out of state, I can use that same $100k and purchase 3 or 4 homes!  And, instead of having just one property giving me cash flow, I can then multiply that by the number of properties I have.  My main thing is looking for some guidance on how I can put together a plan to get me to my goal.  If you’ve got some feedback on that, would definitely like to touch base!

Would absolutely like two connect, AJ. I’ll send you a message. 

Hello All,
I joined this forum about a month ago and have enjoyed reading through and getting educated!  In a few months, I am expecting that I will have $100k to make my first real estate investment. My plan is to do buy and holds and focus on multi-families. I live in MA where properties are expensive and looking to invest out of state and potentially do turnkey - especially since I have a W2 job and do well overall financially.

I am looking for some guidance on how I turn my $100k into $10k/mo in passive income. I am patient and know it will likely take 10+years.  But, would love some guidance and/or suggestions on how to get there!  

I don’t have time to do BRRRRs and I have 4 kids so house hacking is also out.  My job is also demanding which is why I am thinking turnkey, but I am open to other suggestions.