All Forum Posts by: Taylor Shapiro

@Wahid A. It's RentRedi.com

I always recommend RentRedi to those with "smaller" portfolios. Inexpensive, intuitive, and has a lot of good features, including the late fee penalty. It has an option to charge a 1x fee after a specific date or a daily fee that accumulates. 

@Connor Parker send me a PM. I'm always up to talk shop   

Hey @Connor Parker, nice to see another CT investor posting on the forums. I can't speak to the opportunities you might find out of state, but from what I gather, we're seeing low supply and high demand in just about every market. Competition is high everywhere due to low inventory. I've been investing in CT since 2014 and I've never experienced a sellers market like this. If you're just getting started in REI then I'd recommend using this time to practice your underwriting skills. Look at, and underwrite, as many deals as possible. This way, when a good one comes through you'll be ready to pounce. Investing out of state is challenging enough in a stable market, even for the most experienced investors. Stick to your own backyard, land a deal or two, then maybe look elsewhere. Just my two cents.

Hey Nina!

I'll give my two cents here. I think the most important part in getting started is being clear on what your goals are. What are you looking to accomplish? Passive income over the long term? Chunks of "cash" after a shorter period? Fulltime/part time?

Having a clear understanding of what your goals are will give you focus and allow you to come up with a plan of action. For me, I wanted to quit the day job. Rentals are tried and true, but even if I was cashflowing a few hundred dollars per unit, it would've taken too long to buy enough units to cover my expenses and allow me to jump into REI full time. A bigger check, like the ones I get from flipping SFHs, would pad my account for a longer period of time. More time to keep working the plan...so that's what I did. I started by flipping houses. Three successful projects later and I was able to quit my job.

You're just getting started. It's an exciting time for you! Use this time to study the strategies that you find appealing. If you're really honest with yourself, you may notice that one strategy is better suited for your personality and the resources you already have access to. Lean into those. Sometimes, maybe most times, it's better to pick the option you truly enjoy over the one you can't stand, just for the money. 

If that advice fails, I would then recommend

1. Buy low

2. Sell high

3. Make money

:)

@Ryan Deasy 

@Todd Powell Congratulations on all of your success so far. I really enjoy reading stories like yours. Question: How were you able to find the out of state deals to invest in? I'm in CT and the MLS here hasn't been cutting it lately. I'm curious how you market to non-listed properties, also. Keep up the good work.

@Danny Randazzo thanks for the quick response. I've heard that 50 units is a good starting point. Congrats on all your success. 

@Danny Randazzo how many units have you found to be the tipping point where you're able to bring in a third party management team and free up your time?

@Matt Burns- Appreciate the feedback. I've flipped 30+ houses in the past 4 years and managed 300+ units for 2 of those years to gain some experience in the apartment building world. Syndicating seems to be the next logical step given my past experience and personal interest. I plan on looking into Jake and Gino's program a little further. Seems they have a great reputation and track record. Thanks again!