All Forum Posts by: Rachel A Simon

I think the real threshold issue is that of scale.  If you only have a handful of doors and you have one or two major issues, it can wipe out your cashflow in a heartbeat.  Trust me, I dealt with a major leak on one of my properties and it cost me $10K.  

I would NOT recommend managing the property yourself as this is just a headache.  It's worth the 8-10% to have someone else deal with the problems, but you want to make sure you have the RIGHT property manager.  If you aren't happy with the one you have, maybe you should interview a few others and make the change when your contract permits.

I have been doing some research on a few multi-family properties and I came across one particular property that had single-family residences on one lot.  I send the information to my lender to get information re: financing options and she indicated that the property records only reflect one house.   However, the property is technically zoned for multiple.  She said this could require special financing.  Any experience with this type of issue and how to finance?

If you have a BP Pro membership, BP Insights gives you good rental estimates based on the address and the specs of the property.  Here's the link:  https://www.biggerpockets.com/...

There are several in California.  Here are a few links:

https://www.gdugaragedoors.com...

https://luxgaragedoors.com/col...

https://glassgaragedoors.com/p...

I hope this helps!

Real estate is a huge industry--there's definitely room for more! However, the more saturated the investor market is, the harder it is to find good deals. You may need to work a bit harder, but it's still entirely possible. My advice- when looking at deals, make sure to double-check your numbers and make sure they're real.  Sometimes the best deal is the one you don't do...

Hi All!

I am relatively new to BP and currently own 1 SFR rental property. For the last 2 years, I have been saving up to invest in small multi-family properties (2-4 units) and now have the liquidity to do so. Unfortunately, it seems that a lot of experts are now wary of multi-family properties. It seems that COVID may have changed the demand for these types of properties. Any recommendations? Should I move forward with my original plan or shift to a different property type? I'm mainly interested in cashflow (vs appreciation). Thanks in advance for your advice!