All Forum Posts by: Riley Schaefer

Really hard to comp small multi family properties (1-4 untis).  Banks still comp them like SFRs (using comparables), which causes a lot of issues if there are not many actual comps in the area to use.  I've seen a lot of appraisal issues on small MF properties.  I don't think cosmetic improvements make that much of a value add (not as much as SFRs).  Most duplexes and small MF are tailored towards tenants only vs retail buyers, so I would not put too much time into cosmetic improvements to increase value.

I can't seem to find any properties that cash flow there with where current interest rates are.  Can you share any specific property numbers or details you are referring to?

@Jane Trust Ryan there are not any hidden costs from what I have experienced.  Everything is very transparent.  They source new construction investments throughout the country where they research the areas.  They then vet builders and inventory options to show them on their website.  Those builders pay them a fee to be shown on their site.  There are no buy side fees for the investor, which is nice.  Management is 3rd party in each area, and they typically provide a couple of different PM recommendations.  I've invested with Rent To Retirement on multiple properties over many years and shared my experience extensively on BP.  I have generally had a very good experience with them and I am still investing with them today.  I like the ability to easily invest in new construction deals throughout the country where teams are already set up in place and they are able to coach me through the strategy of how to accomplish my goals.  Definitely worth an initial conversation with their team if you haven't had one already.  Hope this helps.

@Nick Benedick I've invested with Rent To Retirement for years now and will continue.  Overall I have had a very predictable and overall positive experience investing with them across a few different markets for years.  I like the new construction products they offer that seem to be in better locations with more upside vs some of the cheaper stuff in the midwest.  Just my two cents.

As everyone else has stated here, always go through the normal due diligence you would when buying any property regardless of who the seller is.  I think it's kind of funny that people always talk about doing your own due diligence as I thought that was pretty assumed with any investment, but I guess there are some people who may buy blindly like they do with stocks or whatever.

@Gustavo Tellez

What type of financing are you looking to use?  If conventional, then you likely need 20% to 25% down.  So the amount will vary dramatically based on the home price.  Prices also vary depending on where you are looking to buy.

BRRR and TK are COMPLETELY different strategies with a significantly different risk, time, money & stresses involved. I've brrr'd a few properties. Lost money on many of them ultimately, made a little bit on a few, spent a TON of time on them all...way more than initially anticipated. I also buy a lot of turnkey deals mainly through Rent To Retirement with Zach Lemaster. Generally those have been good and mainly hands off. I tend to like new construction more than anything.

Whatever strategy you choose, remember to be honest with home much time & risk tolerance you have & to always run your due diligence on any property before you buy it!

@Wesley Mullen I've transferred all my properties to an LLC via QCD. Never had any issues, and never heard of anyone experiencing a loan being called due because of this. I believe if there were to happen, you could just as easily QCD back to your name. I don't see why that would be an issue. This seems to be fairly common practice in the REI community.

@Theresa Hansen I've invested with them for years and had a good experience across multiple properties.  Just search on the forums and you will find many threads on them.  Here is a thread where I share more about my experience along with many others:

https://www.biggerpockets.com/forums/92/topics/518583-feedba...

https://www.biggerpockets.com/forums/92/topics/950188-rent-t...

That is pretty aggressive.  I've never heard of a 6 month limit!  Most I've seen is 90 days, and I thought that was aggressive...might be time to look at a new market for MTRs!

Pricelabs 100% is the way to go!  I do believe they charge per location now, which is a downside unless you are only operating in one market.

@Account Closed

Great post Ken.  This is exactly how I felt when I first got started.  In the beginning, I had no spare time, but now that I've built a strong investment portfolio to replace my income, I have significantly more time allowing my investing strategy to ultimately expand over time!