All Forum Posts by: Stacey So

@Joel Allen thank you! I’ll get in touch with Taj!

I’m looking to purchase a 4plex this year in the Houston market. Does anyone have a real estate agent who can represent me and send me deals (off market would be great)? I’m based in Dallas, but travel to Houston monthly.

@Natalie Schanne where in NJ can you find MF properties like this?

Congratulations on your first MF! I am looking to expand my portfolio to MF and am curious what market this property is in and how you found the deal. How did you find a commercial lender?

@Avery Carl

The STR queen has spoken.

I own 5 LTRs. Purchased them turnkey and use PM on all of them. Passive income $200-400/month a pop. I'm working to add STR to my portfolio for the cash flow so I can scale my investments more quickly. I am only looking at ‘vacation' markets so I can also enjoy it for personal use.

@Brian Ploszay I can’t find any turnkey properties in Dallas/Houston that cash flow positive, because of property tax. Otherwise my preference is to invest locally.

@David Ounanian No, they refuse to come down on price because they ‘guaranteed’ a $105k appraisal but the (2nd) appraisal came back at $108k. I guess it was a bad sign that they ‘guarantee’ up to a 15% discount on the contract price.

We are under contract to purchase a SFH in St Louis as rental property from a turnkey provider (Memphis Invest/REI Nation) for $125k. After a low appraisal ($70k, later went up to $90k upon contest), we changed lender and appraisal came back at $108k. Our ROI went from over 10% to around 8%. My questions- 1) how is the St. Louis market doing? We are afraid to go in this much under water and don't know if it's realistic to expect appreciation this quickly to cover the negative equity. 2) Would you walk away? We are out about $2k at this point with 2 appraisals, inspection, termite report, survey etc. Don't even know if we'd be able to walk away without losing the earnest money.

@Andrew Brown

Personally I would pay off the student loan first because I'm conservative. I'm assuming it isn't a federal loan given the interest rate. If it is, I would assume some of it will be forgiven like @Lynnette E. said and pay off some but not all of it. Re getting out of the contract with REI Nation- speak with your portfolio advisor at REI. Worst care you will lose the earnest money.

@Andrew Brown what is the return on investment on this deal? I would compare that with your student loan interest rate, instead of focusing only on CoC. I invest with REI Nation however I have no experience backing out of a contract so can't speak to it.