All Forum Posts by: Taylor Chiu

@Alan Howard

I actually bought a number of OOS properties before visiting the market, and it worked out fine. That was because I already had a solid team in place.

However, if you can at all manage it, I would recommend flying out there to look at the market. Check out available properties, drive the streets and cross-reference with the Trulia crime map, visit open houses, meet with realtors and property managers. You won’t regret it!

@Stephanie P.

OK I have read up on these loan products him, I agree with Stephanie that if you can pull it off I would do a multi family with a 203K loan instead.

@Miguel Anaya 

Should you do sfr or multifam? It depends on the deals. Can you give an example of what the numbers would look like on a sfr and also on a duplex?

@Fahim Kayed Looks like a good deal, the only concerns I have are the repair / capex allotments are pretty low. I take it you are getting it fully rehabbed?

I believe @Frank Rolfe has a program where he will look at deals you bring and give his opinion on them

@Jensen Roll Congrats on the deal! Pretty unique value add with the tiny home. Were there any big hurdles getting the city on board, or are they totally on board with putting ADUs / tiny homes on the lot?

@Charlotte Dunford Possibly, how far is the town from a major city?

 Could be great! Also depends on your risk tolerance, but the returns will be much better if you split the money among multiple properties.

 Assuming those numbers are correct, I would go that route instead of buying it outright. Now you are hitting a 15% cash on cash return, and you could repeat the process 4 more times with the rest of the 400k that you would have spent buying the duplex outright.

like @Jeff C. says, 20k on 400k invested is only 5%, not worth it if those are the numbers. Especially in a lesser neighborhood