All Forum Posts by: Syam Tadavarthy

@Jeremy Vought if you refinanced your Springfield properties to 30 year fixed, could you get cash flow? 

Investment Info:

Townhouse buy & hold investment.

Purchase price: $181,000
Cash invested: $18,100

Purchased townhouse in an appreciating community in Northern Virginia. Sought after location with low rental turnover.

What made you interested in investing in this type of deal?

Success by other investors

How did you find this deal and how did you negotiate it?

Real Estate Agent

How did you finance this deal?

Loan

How did you add value to the deal?

Added a bathroom

What was the outcome?

Been able to provide a lovely place to live for a few families.

Lessons learned? Challenges?

Real Estate is the long game. There will be expenses and challenges, but in the long run, it does work out.

It's not late at all! By your late 40s you have built emotional intelligence, your income is ideally higher, and been through some difficult times. Also, don't beat yourself by starting "late," you didn't have the internet for most of your life or great website like BiggerPockets. Best of luck!

I would talk to their previous landlord as well as ask for additional security deposit (if the laws allow). 

Hi Travis,

Congrats on having positive net wealth! A lot of people have suggested house hacking and that would be great way for you to start after you have a decent downpayment and reserves to cover expenses. Start to lay your groundwork with talking to a trusted real estate agent, lenders, go to open houses, and by the the time you have a downpayment you will have the education to start.

Syam

A business owner definitely wrote this so I commend you for that, however, there is nothing wrong with self managing. Real estate typically is a disproportionate amount of an individual's wealth, and directly managing your investments provides an invaluable education on the rental market and cost of repairs to name a few.  Once you scale your investments to multiple or distant properties then you will need help to make sure you keep up with the level of service your have previously provided.

Primarily focused on SFH, and most have paid. We have one issue, but with some many out of work, I feel fortunate.

With @Dan Robinson on this one. Use owner occupied financing, and pick up another investment in a nice area. You can do this for about 4-5 SFH before financing becomes a problem.