All Forum Posts by: Scott Wessels

My construction manager may be interested. PM for more info.

@Mehran K. --I like your rules...guessing you meant 1 month per year vacancy.  Thanks for the advice on the 2%.  I only mention it to avoid having this thread turn into a debate over whether it is good or bad, when that info can be found with a search.  I personally don't think it's right for me.

Hi All,

I want to know what your investment rules are for buy and hold investments, specifically SFRs.  I know about the 1% rule, 2% rule, the 50% rule etc...that's not what I'm asking about.  I'm trying to figure out what you use to be and stay successful in investing, so I can apply what fits to my investment strategy.

I want to know what your goals are for cash on cash return, cashflow per unit, ROI, or whatever you use to screen deals. Why do you use this rule? And how can other variables effect your decisions? Things like interest rate, purchase price, LTV, potential appreciation, property type.

Thanks in advance.  I hope this drums up some good discussion!

@Eric Fernwood --That's an awesome list for due diligence, thanks for sharing it.  I'm gonna add this info to my checklist.

Thanks to everyone for the warm welcome!

@Michael Ran --Keyword alerts, check!  I'll definitely be taking you up on the offer to meet up.  Not sure when, but I'll let you know.

@Jon Huber --Podcast marathon has been going for a while…I usually do 1-2 per day, but starting over so I can take notes too.

My game plan from here is to start vetting turnkey companies, both interstate and local, to find a team that works well for my goals.  One thing I don't have that I feel I need is a checklist for this process…I'll be reaching out to a few folks here to get one built.

@Account Closed 

I signed up and looked around your website.  Why do your financial estimates not include vacancy or repairs?  This omission can artificially pad the cash flow numbers.  Or is this included in the asset management fee?  There isn't a lot of information available on the site on this topic so I can't really tell.  Thanks in advance!

@Marco Santarelli --Thanks for the advice.  I know if I were going out of state I would definitely go turn key.  But local presents a different opportunity.  If I can build my own team here and focus on properties that need very little work done, I think that it's possible to break even vs turn key on the first deal or two, and do much better down the road with more experience.  However, I'm open to whatever works best!

Hi All!

I'm a new investor in Houston and I'm looking to get started buying 2-4 cash-flowing single family homes per year.  My initial inclination is to buy turn key from companies like Norada or Maverick Investor Group, but I'm willing to bet that I can do a bit better (on the numbers) by being active on here and networking with y'all.  

If you are in Houston and have experience with these things, please send me a message and I'd love to meet up for coffee sometime!  

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