All Forum Posts by: Ryan Nastase

@Alex Mora we are located in Tucson and have had success with a niche market. We are able to get positive cash flow of about $600-800 per property. Feel free to PM me and we can setup a time to discuss the details if you’d like. 

@Wale Lawal this is a good thread, thanks for posing the question.

As seen in this article

https://www.google.com/amp/s/therealdeal.com/2020/08/25/five-ways-biden-could-change-the-game-for-real-estate/amp/

some of the potential changes are:

1) 2017 federal tax law - potentially do away with

2) opportunity zones - potentially do away with

3) Fair Housing in suburbs- reinstate

4) 1031 Exchange- potentially do away with

5) SALT - increase to $20k in expensive cities

By in large, these policies will cut into REI profits but then again we shouldn't count on these things to remain profitable. Continue searching and investing in deals that cash flow and if these tax incentives remain its just gravy.

@Nathan Raisbeck resilience is the ability to stick with your goals even when things get tough. You likely chose ME for a reason and had some passion for doing so. REI can be pursued along side of this goal. To be perfectly frank, it will likely find you REI career much more quickly.

Buy a duplex, triplex, or quadplex and house hack it. Stay in school. We can do great things when we put our mind to it. Do both! Have your cake and eat it too!

@Bryce Stclair great work! I’m also in the military and have been acquiring single family home for long term rentals. Keep up the good work.

@Account Closed Thanks for the lessons learned.  I am in Tucson and focusing on single family homes. I've got 4 under contract in the last 6 months. It is always good to see other strategies and lessons learned from them.  I havent ventured into the multifamily stuff but maybe one day.

I started out with a Google Voice number that rang on both mine and my wife's phone.  Now our business has expanded.  I was thinking I want three different numbers so each could be tailored to the following VM and purpose:

-Existing Tenants 

-Vacant Units Advertised 

-We buy houses 

After doing some thinking, this of course could be managed by having three different options on the business voicemail (ie For existing tenants press 1, If you are looking for a new rental press 2, If you are looking to sell your house press 3).  

There are many ways to skin the cat.  There are many posts on this subject but most of them are incomplete and old.  How do you manage your phone calls?  What's your favorite service?  Is it affordable?

@Colby Fryar Thanks for setting this up. I have been doing a modified BRRRR and hold and lease options on single-family rentals in Tucson but am interested in learning more about multifamily. Looking forward to the call.

Ryan

@Heidi Johnson can you expand on your rental income and net operating expenses? I'd be interested what kind of ROI you are getting on a property like this.

Thanks!

@David Wandel Thanks for the comment.  Yes, she stated, after all parties signed the contract, that she may not be able to afford somewhere else to live before she gets the sales money.  So you think I should just add an addendum that states something like:

The seller, specifically naming the sister, will have $15,000 held by escrow upon closure of this sale.  This $15,000 will be used to lease the property at a rate of $2,000 per month for up to 2 months.  The lease rate will be prorated daily.  The rest of the money will be held until the seller moves out.  In the event the seller does not move out within 2 months after the close of this sale, the monthly rent will increase to $4,000 per month and the eviction process will start.  All eviction fees and legal fees will be paid out of the escrow account.  Once the seller moves out, the remainder of the escrow funds will be delivered to the seller no later than 14-days.  Any damages to the property will be taken from the escrow balance prior to delivery to the seller.  

@Wayne Brooks Thanks for the words of advice.  That's an excellent idea.  Can that all be done in the contract?  Or would that have to be a separate legal contract?