All Forum Posts by: Syed H.

 So I self manage 21 units right now. I am 2 hours away from the properties. I spend 10-20 hours/month on average including my 4 hour roundtrip drive there. The only reason I spent closer to 20 some months is when I'm dealing with city inspections and/or new acquisitions. 

I believe I can manage 50-60 units like this with minimal extra hours, goal is a few hundred tho. 

The key is to build systems. Spend the time to track the rents correctly, get a PO Box for rent, get 2-3 handymen close by, have them send you pictures of any work done, focus on mitigating vacancy & turnover. 

If done properly & efficiently, you can easily self-manage with less than 10-20 hours/month on average. 

It depends , only if it was already becoming vacant and I had nowhere else to invest that money with a better return.

Your 3 year payoff is wrong. It’s a 40 month payoff if you assume 100% occupancy. I’d assume a reasonable vacancy rate on that rent.

I prefer to hit the tenants with a modest increases without doing any renovations. Id send a rent increase of $50-$100. If they don’t accept and move than I will renovate and go to market. 

All of the above. 

Don’t buy a property without walking it and the area first. 

This is a bad deal. $400-$500/month is only $100/unit in a bad neighborhood (well depending on where exactly in Newburgh). You need to cash flow $200/unit/month in a war zone like parts of Newburgh. 

Most people's numbers I've seen that are cash flowing $400+/unit/month with 75% leverage aren't properly taking to account all expenses. They don't consider management, vacancy, & capex properly usually, especially in the SFR space. Doesn't matter if it's rehabbed or not. You have to account for the big ticket items.

$200-$300 sounds about right if you properly underwrite the deal. 

Well it does kind of make sense if you are a full time flipper. How much money do you make for the hours you put in? Some flippers put in 0 capital of their own. It’s just another business. 

I don’t track my hours tho, I just know I work too much.

Is he on the LLC? If he is, he need to sign the loan too.

You should buy the property under ur own llc, get a Loan under ur company, partner with him on the side. Pretty simple. Only problem is if you don't have the experience to show a HML to get the loan

 That’s great, congrats! 

Honestly, than you don’t even have to flip. Partner with flippers and invest in other passive methods. Let them do all the work, you take a piece. You can do no work and collect a nice return. If you have enough money, $140k/year is easily achievable just by investing. 

Lol my last post was removed because I guess I was too honest. I'll try to be a little nicer.

Wanting to make $140/year & not work only 40 hours a week in flipping is unrealistic unless you have tons of capital. 

I would love to only work 40 hours a week. Flipping isn't 9-5. It's a 7-7. 

Find something you like to do. There are more than a few ways to make $100k+/year.