All Forum Posts by: Scott Henrikson

@Charles Conroy retail isn’t bad for everyone. The important question is does it cashflow with your market analysis numbers? Don’t trust the mls 100%. If it makes money... it makes money!

@Kyle Falkenstein house hacking is fantastic! Test out vacation rentals and that might be a better income stream. Keep building!!

@Joey Allison conventional financing is the cheapest money right now. Hard money has come way down but you’ll still need to refi in most cases. In my area duplexes are making solid cf. try those in commercial lending. Anything larger in multifamily is bloated. That’s my area anyways! Once you figure your answer out it’s gold! And there is an answer you like somewhere.

@Joey Allison focus on brrrr to grow. You get up to 10 30 yr fixed mortgages before you need to go commercial. Commercial works better for duplex on up. I currently can get a 25 yr amortization on commercial which helps on cf but rates are 1% higher then secondary markets. Brrrr really is the best way to keep your money going. Those properties are ugly but they work in the end!

@David Muscovalley if you are disciplined then a heloc is a good source to start. Do your math twice to make sure you stay ahead. Take partners who know the market. I build every deal for myself and clients as a worst case senecio. Worst case is loss of time not money. This is a life changing business so start, reinvest, and grow.

@Gadiel Del Orbe good deals are in every market cycle. Listen to the podcasts and use that knowledge to interview real estate agents. It should be crystal clear who knows the business and who just says they do on FB. The good ones know the deals and are excited to have a new partner.

@Tyrell D Bradshaw there are lots of directions a person could go here! One thing I’m personally working on is hiring a property manager for my C level duplexes. In my area these tenants can be rough and having separation is nice. If it can cash flow to your expectations I would hire a property manager. It doesn’t have to be all or nothing either. Test, correct, repeat.

@Cory B. I would look more into a heloc. I’ve locked these in for 90% of appraised value at 5%. Having cash in hand is always tempting but leverage is the path the fast growth.

@Adam Scheetz it's not a slam dunk in the traditional sense but if you are using all of the banks money (I think you could with this deal) and you're not putting in a ton of sweat equity into it I would go for it. BRRR and find the next!