All Forum Posts by: Ryan F.

 Great info thanks Ali!

 Hi @Ali Boone, 

They are what I call quick equity returns. These are my first two rentals so I am still learning but they have ALOT of deferred maintenance and need a great deal of TLC. They are both currently rented out and have a nice cash flow each month, but I think with the BRRR method I'll be able to buy two more in six months or so once they have seasoned a bit and I can pull out some equity.

Like I said I have no idea what they will appraise for once I 'fix' them up, but I plan on buying properties with excellent bones ie (electrical split between units (200 Amps), New plumbing (ABS) and new roofs and foundations (crawl space) I like that for ease of repairs. 

So that's my plan thus far. Will keep you all posted as things move along. 

On a side note, what do you all do for legal protection? I was told two units are not really worth an LLC, but rather up my personal umbrella until I get 4 units then switch to a commercial umbrella policy... thoughts?

 This is what I have been doing lol. I was looking at software like https://www.concur.com/ to help keep me on track and not have to store all these reciepts... 

Thanks @Jeb Brilliant! I agree I am a big fan of mitigating my risk with multiple units! 

Thanks @Pam Schuster. The area that I have found has been great! No HOAs and decent prices all cash flow positive with renters off the bat. I spend an average 100 hours per unit looking up stats and figures to make sure they will work long term for my strategy. After looking at over 100 duplexes I finally found two detached cottages that made sense.. 

Thank you @Stephen Akindona

One question I had for you investors is what P&Ps do you use to keep track of all your repairs and reciepts for tax time deductions?  

Hi All, 

New member here from San Diego and I just closed on my first rental property. It's two detached units. Great info on this site thus far!

Hi All,

New to the site. I just closed on my first rental property. We currently own our primary residence and decided it was time to buy a rental. A bit scary in San Diego because of the price of property.

I found this site last night and already want to buy my next rental. Price range in the area that I like for rentals in San Diego is $300-400k.

What would be you'll advice on buying one a year with 25% down since I like buying detached 2 units to mitigate my risks?

I was thinking refi, but after reading some of these post it may be better not to use that technique? Thoughts?