All Forum Posts by: Rodney Robinson

@Louis Zameryka Great question. When I first started, my wife had concerns about real estate (admittedly, I did as well). It is new and less familiar. This may not directly answer, your question, but what I found useful was educating myself so well that I could answer her questions and communicate the power of real estate in a simple and understandable manner. If I could do that, I was growing in knowledge and she would follow my lead.

Secondly, we got started by purchasing a primary residence that would make for a great rental (it ended up being our second, since while living their we bought an SFR and rented it out). That ease into real estate, as well as the knowledge sharing and ongoing discussions in our everyday life, allowed us both to become more comfortable in this new lifestyle.

Hope this helps.

@Kaylee Pratt

Putting $1k down, using the Florida first-time home buyer program, on a $130k primary residence (with the intention of renting when we moved). My family and I lived in the property for 3.5 years, moved out in 2020 and rented it out for $300 of monthly cash flow. And as an added bonus, the property appreciated in value by $70k, or 53%, over those years. The reason I think this is the best deal ever is because for $1k down, this was our family house for a few years and a great cash flowing buy and hold investment whose value I can now use for additional or greater deals.

Rodney

@Shafi Noss great question:

1) enjoy the freedom to be with my wife and children; help my wife achieve her dreams (I do this now)

2) create a platform to help others achieve their dreams

3) dive into a deeper mission of supporting church ministries and missions

@Joe Splitrock although less people are vacationing, the fact that it is near a hospital may be good for near term demand. I have heard that there have been more traveling nurses in need of short term housing as a result of covid. Your market is the strongest determinant of that demand. Awesome and good luck

@Ellie Perlman great post. All are very popular misconceptions. The 3rd is especially insightful, that acquiring a large multifamily requires the same effort as smaller real estate. Yes, both require consistent action. Although, there may be certain barriers to entry in larger multi families (team, resources, skill sets), I agree that the same effort (hard work, consistent action, and resourcefulness) is required in any sized property. This is why I am now focused on multifamily. Thanks.

@Lintao Cui I agree with a few others here who suggested considering passively investing in multifamily. Based upon your desires for hands off, goals for a certain lifestyle and capital that you have to invest, perhaps multifamily passive investing is a great fit for you. Have you considered this?

@Trevor West also make special note of the SEC requirements for raising capital. If you are raising under a 506b, you must have a preexisting relationship with investors. Under the 506c, you can solicit and do not need that preexisting relationship, but must do better diligence in validating that one is an “accredited investor.” You may very well be aware, but I wanted to share. If you have not already, it may be a good idea to read on this and consult an SEC attorney.

@April Ceng yes sometimes there is manipulation of people trying to learn something new. I have found myself in a few of those classes! If you are looking for free education in Multifamily, I recommend you listen to Michael Blank and use his resources. TheMichaelblank.com

@Ryan Hazelwood 29. 2 single family rentals. I have been studying real estate since 2013 and was finally able to get started in 2019. Expanding to Multifamily apartment investing moving forward.

@Kenny Hsu this is something to continue to watch with prudence, however, to wait for the absolute best time to invest will create missed opportunities. In my opinion is a good time to study what is happening, review deals daily for those that meet your criteria and invest accordingly .