All Forum Posts by: Stanley E.

James DeRoest yes it is. I am already looking for my next deal.

Hey all. Thanks for your responses. My first deal was a 2:1 and it cash flows well. The tenant just recently singed their second year long lease. I also just purchaed my second deal which is a 3:2 in a decent neighborhood and I am working to get it up and ready to rent. I'm already thinking about my third deal, so just trying to get some perspective as I plan my next acquisition. Thanks again all.

Hey BP. I'm wondering, is the demand really for SFRs that are 3:2s or are others having good success with 2:1s or 2:2s? Just wondering. Thanks for any responses.

I'm not sure who the administrator is for your 401K, but many of them allow multiple loans on the account (on the money you put in, not your employers match). Then there is the self-directed 401K, which allows you checkbook control. But, more specifically to attept an answer at your question, I'd suggest simply borrowing enough the one time that it covers the down payment on the four properties...or maybe a compromise where you borrow enough the first time to purchase three properties. If they are going to be rentals, once you've built enough capital from rents to make a down payment on the fourth property, go that route. It may be slower than what your original plan desired, but the investor's game is a slow one anyway. Hope it all works out for you.

Hi Michael Lee . I love your suggestion about using the locks at another location if they are good. I will have to add that to my toolbox. Fortunately for me, each time I purchase a new property, my Realtor/PM pays to have the locks changed (he does this before I sign a PM contract with him). But, if I am ever not using him, I'll still have good locks for new properties if I adopt your idea. Thanks again.

Hi Necia Bunnell . Try Allen Davis at Davis Insurance in Sherwood, AR. They may be able to help you. They are who I currently use. If you can't find their info, inbox me and I will provide you with it. Hope this helps.

That's great Keith Rivera . I just recently purchased my second under 30K SFR and am in the process of renovating it. The tenant in my first SFR just reneeed their lease for year two and it is cashflowing well.

Hi Keith. What did you end up doing here?

Wow Austin. That sounds awesome. First, I want to know how you found the property. Second, I'm not sure about the ARV as I am currently a buy and hold investor, therefore, I'm not looking to improve the property to sell, but to make it a desirable living place...which I learned quickly are two totally different animals. Thirdly, at that price, in the event you don't sell it, you could make upwards of 35-40% COC (guesstimate). I didn't run the numbers because I would hate to be anymore envious than I already am. If I were not about to close on a deal next week, I'd be calling you about this one. Even at a $500-$550 rent, I think you could still get the returns I mentioned if you held it...and I pretty sure I'm being modest.

Still would like to know how and where you found it.

Best of luck.

Hi Chris Searcy . You are correct. There are numerous opportunities to get a 25% return or better. I know this because I have a property that cash flows better than 25%. I got it for less than 15K and put less than 4k into into it and it rents for $600 a month. This was my first property and I got spoiled on this so now I will only do a deal where my worst case scenario is no less than a 20% return. I close on my second deal in a couple of weeks and my projections are right around 25%...in a very stable neighborhood where most of the occupants are owners with some renters. I know the good deals are out there because I'm getting them. If I were you, I would take into consideration the cautions that have been identified in this post, especially as an out of town investor. Best of luck.