All Forum Posts by: Ryan Jones

@Alora Glaze thanks for the recommendation! We will take a look at them and do our DD.

@Gloria N Gear excellent! I would love to chat. That's great to know (I typically run my numbers at the 10% mark for mgmt anyways). I'll DM you and we can continue the discussion!

Hello Indiana investors!

My wife and I are looking to invest in the state of Indiana. Any recommendations for property managers that you have worked with before?

Looking for any referrals in order to start opening the dialogue and build those important relationships we need to begin our investing journey. Our target property type is 2-4 unit SMF and we are open to city and locations. Have done some searching in Indianapolis, but would love to see what you all have experienced in your area!

We are out of state (OOS) investors and if you know anyone who has worked with OOS investors before we would love to chat with them.

Thanks in advance!

Ryan

Ok bear with me. I know this is a real estate forum but I just had a provoking shower thought ( I hope I'm not the only one who thinks, sometimes too hard, in the shower).

When it comes to seller financing for real estate the perks I have gathered from reading and watching all of the podcasts and YouTube videos I can are:

-No hit to personal or business credit

-Potentially better negotiable interest and payments

-Obvious acquisition of the property with name on title

-Potential for good deal if sitting on the market (not a lot of that going on now, but definitely still out there to be found).

Here's where I may lose a lot of people. I'm certainly interested in trying this financing tactic, however, the true nature of my question is unrelated to real estate.

I'm a bit of a classic car enthusiast and like most of us out there, we just don't have the cash sitting around to dump on a fun vehicle that needs constant attention and can be costly depending on what you want.

My question is this:

Has anyone ever tried seller financing on a vehicle?

The way I see it, you can take the exact same principles and apply it to buying something like a classic car. Now I know, "Ryan, a vehicle is a depreciating asset why would you want to do that?"

Well. If I want to go buy a 1963 Corvette split window and don't have 80-100k in the bank and have minimal options for commercial lenders when it comes to classic cars, why not see if the seller would finance the vehicle? I still become liable for the note and make monthly payments (with presumed interest) but have the option to pay in full at any time.

So let's say I buy this beautiful split window and love driving this thing around. Well come 6 months to a year or so later, this thing is worth 120k now(fantasy numbers here). I sell the vehicle and pay off my initial seller and make 20k.

Am I crazy or is there something to this idea??

@Theresa Mack that's great to hear! As a realtor, do you look at any small multifamily for yourself or clients? Or just SFH? I'm just curious what you are seeing as far as inventory goes in the SMF space.

@Jordan Mummau What would you define city boundry wise as "Central PA"? I'm looking for long term quads that are cashflow focused. Would still like to see some appreciation, however, not as crucial in the beginning to me. We were interested in Harrisburg and Hershey as a possibility as well. Any others you might suggest to research? Thanks!

@Bryan Danger thanks for the reply. I guess I meant not conducive to the investing strategy that I am looking for myself. I still think the market is over priced and don't really have a desire to invest in Oregon unless it was a destination STR on the coast or mountain later on.

I like your idea of the ADU except our property really doesn't have property. It's a 1500 sf house in a very packed subdivision. So no opportunity there... but thanks for the ideas!

@Michael Plante my home market is not conducive to the strategy of small MF properties and the landlord tenant laws are not in our favor. Plus the pricing is outrageous. I'd rather search out of state and be able to buy more property with less that actually has laws in support of landlords.

@Stephen Brown we have considered renting temporarily, the difficult part is finding a place to house us, our German shepherd, cat and infant that would consider month to month as well as have enough space for our stuff. From the small amount of research I have done so far, they are few and far between. Definitely an option to consider though!

After a brief hiatus while my wife and I had our son, we are getting back on track for our investing goals. I have been listening to all of the podcasts I can and reading more books (I promise I'm not in education paralysis) and think we came up with a couple of good options for our situation.

At first, my thought was, "how do I start when we have no money, two car payments and student debt? OPM of course!" And while yes, it is doable, we felt we needed to get some of our financial stuff together first. So, we paid off both cars and refinanced my student debt to save half of the monthly payment. Now we are looking at three options around July-September timeline.

Option 1: We sell our primary residence in the HOPE of finding something to move to in our extremely hot market. Take our $30k profit and invest that out of state in a rental. (Moving our primary residence out of state is not an option at this point)

Option 2: We hold on to our primary residence due to the inability to find another one and by then have $20-30k saved up and find a rental property out of state to buy.

Option 3: Go with either of those options but with the addition of finding a partner to buy a bigger (maybe quad?) property with.

Bottom line, for those experienced small MF investors: What would you do with $20-30k cash and just starting out?

Any and all advice is greatly appreciated!