All Forum Posts by: Tara Brodersen

Thank you everyone for such great advice!

@ Terry Hershberger

I want to look outside my area my area, but it seems like such a scary thing to do. Especially considering I wouldn't know the area. It seems like such a risk! Others have recommended looking at LoopNet and creating a relationship with a MF Realtor there. This is great advice but I don't think all realtors are trustworthy, what if they lead me astray or just don't know exactly what they are doing? I feel that I would be putting all my money and trust in someone I don't know in order to buy out of my area, however my return might be greater than in my area. So I am wondering if you have any additional advice on how to go about this?

@ Joel Owens

You are pretty much right on as far as your rent for cap calculations. For 250k I would have 4 units. 2 - 2 bedrooms renting for 595/mo and 2 - 3 bdrms renting for 725/mo. Thank you for breaking down the cap rate calculation for me, I did not know how to do that!! One question still, please explain how to do "Then you look at rent per door versus recent SOLD prices to get the selling cap versus the asking price cap for your area." Thanks!!!

Jeff & Elizabeth- great advice for loopnet - thank you!! I will be checking it out!

Joel - I am looking at 4-plexes in my are, which typically go for 250k or more. I could put 25% down but would like to do less. The financing options I have, considering I am a homemaker now, are: 1. A local bank allows no income with 30% down, or 2. Another bank allows 25% down with minimal income (I plan to go back to work part-time soon). Please tell me how the scale matters in different areas. I am open to different scales but am new at this. I will have to figure out the cap rate and compare, thank you for informing me on that!

THanks Mary B. for being supportive!

Michael W. - Great advice - loving it!!! I will look at other markets, any advice on how to go about this?? I really don't know how to start.... I will also search more on this site to see if anyone has posted on how to go about this.

On a side note, I am trying to edit my profile to not say my entire last name but only my last initial instead. It does not let me edit my name, how do I change this??

HI Jeremy,

Thank you for being supportive :) It sure is beautiful in the Black Hills, we have gone there many times for vacations in the summer, never gets old!

I want to invest in multi-family rentals,but the market where I live is quite high and limited. Is it wiser to buy closer to my area, or should I look somewhere afar, where it is less expensive, and hire a property management company?

Great advice on listening to the Podcast while working out - I will definately be doing that!!

Hi Jerry, such a small world to hear from a local, lol :) Rock Springs is doing good, steadily growing and the economy is good.

Thanks Brandon and Michelle! Nice to have so much support! I will check out your links.

I have been browsing this site for real estate rental investment info and advice for the last few months. Great site and great people!!!

First and foremost, I am hoping to gain knowledge from the people here on rental property investing. I am currently a stay at home mom, for the last 2 years, but will be going back to work soon. My goal is to work part-time and supplement the remaining income (I worked full-time prior to having my son) with rental income, and also building up my number of rental properties yearly.

Secondly, I am looking for an investor to assist with the down payment for 2 4-plexes. How is the best way to find someone who would be interested in this?

I am so happy to find this site and am excited to see how the guidance of other's can help us all obtain our dreams quickly and smoothly!