All Forum Posts by: Terrence Rivers

Hey BP,

My name is Terrence I have been investing in real estate (rentals) for about 7 years. I love being a landlord but I would like to start wholesaling to help with my down payment to expand my portfolio. I been on BP reading articles on how to start get started but just haven't pulled the trigger on a deal yet. I was looking for someone in Jacksonville Florida that wouldn't mine taking on a mentee or can just give me some advice on how to start in my area. Any comments or advice would be greatly welcome.  

In the next year or so Ill will be expanding my rental portfolio. I management my 12 door portfolio myself now, but i know in a year so it will become overwhelming and i want to start to put the piece in place to start a PM company that just manages my property. I have maintenance person i'm sure he will be needing some help soon. I guess my question is how to structure a team that works excursively on my properties? Im a bit of a control freak because of my bad experiences with PM companies.  I welcome all and any suggestion and comments. Thank you 

I just purchased another home this is 3/2 need some work be I got the owner to finance most of the of the it I pay 2500 down And 350 monthly the rents for the area are about 850 to 900. I decide to try the owner finance route and it seem to work out pretty good. I mean I'm not see the entire rent but I'm working with 450 to 500 a month with on a couple thousand invested. Sound like a win to me. And last time talk to you guys i had was bragging about me pm but since then I had to get rid of my pm she was hiding a lot of things from me. I try to make a schedule walkthrough one house every month and this things I saw and the story the Tenant told was crazy 2 week with backing up toilets roof leaking for months and no one at the pm told even they when I ask they said everything was going good. So I manage all my properties my self. I know I growing and I wouldnt be able to handle them all soon.

hey i have question right now i own 16 SFH and one 4plex and all are free and clear except the 4plex. im thinking of trading up to try to get an apartment building. im just not sure of the best way to go about it. Do I sell all my homes and try to put a down payment together? Or do i try out to get some type of blank loan and refi? what would be the best move? All inputs and advice are welcome.

Well family right now i have 15 doors 11 SFH 1 MH lot that i rent out 250 month and 1 4plex. The SFHs and the MH lot are paid off i have mortgage on the 4plex. I really like the Jacksonville market. its really more homes than i buy. I ran out of money. I bought 1 off auction.com for 5k, the rest were between 10k and 25k. I gross about 8k monthly but I ran into a brick wall I ran out of money. so now im just saving waiting to buy my next home. i have an awesome PM she really vets the tenants. I handle all maintenance and she find tenant and collect rents. Soooooo i need more money lol.. I'm save my monthly rent now for my next buy. I was in the Navy for 11 year i got in march and now real estate is all i do. If any one has any strategies from this point I would be happy to hear them.

ok update family i bought 3 SFH for $17,900 each rents are $450 $450 and $500 needing very little repairs. i didnt get the MF i just had a bad experience with the 4plex I own i kinda dont want all my doors together at least not yet. im going to save the rest for any unexpected things that might come up. doing my search i just found alot of properties between 10k and 35k that would make great rental properties. I would prefer to pay cash.

I understand the power of leverage. I have a 3 year plan. After this purchase I plan to buy 2 SFH a year for 3 years. All in low income area so i pay cash. Jax has low end properties that range from 10k to 40K. I think this is really doable in jacksonville. My goal is 7k monthly.

BTW Does anyone know of a good fast rehab team in the area?

well I have a 4plex now but I don't manage it I have property manager and they would manage these properties too if I do buy them. 

i have 100k and i have my eyes on these 2 triplex on the west side of Jacksonville Florida one for 39k and another for 49k both needs about 5k in repairs. i thinking of buying them out right.  My main focus is cash flow I'm trying to work my way out of the military so monthly income is king to me. Does anyone else have any better suggestion on how to invest my 100k?