All Forum Posts by: Ryan C.

I had a single house, then bought a 5-plex. I had the same disillusionment that it wouldn't be "all that much" more work, but it is! You still have six tenants instead of one, even if it's only two properties. It's making money, but much less money per unit than the single family home. Seems like I go to the 5-plex ten times more often than the SFH. Lol

Thanks for your insight. My other properties cash flow $600/mo or so, but I've been adding $400/mo from my "day job" as well. I appreciate your advice. Maybe I'll just chill out for a while. I agree that I need to build up my cash reserves (and then refrain from using that money to buy another place!) Hard for me to do, though! :)

Wow, that is unprofessional!! She seems quite careless in this. While I believe she meant you no harm, I would replace her. Fool me once...

Hi everyone. This is my first post. I love the site so far! I'll try to keep this short. My question regards leverage. I own two properties, a SFH and a 5-plex. I'd like to continue buying properties (my goal is 2 per year), but my down payment dollars will likely come in the form of leverage against the other properties (although, not against my own house!) My mentor/realtor is a wealthy man and a family friend. He tells me to be cautious of leverage because I can get myself into a bad position; however, at my current rate of savings ($400/mo), it will be hard to continue moving forward with my investing. I found a good rent house that will require a $9k down payment which I can leverage, but that would tie up all my available equity. Your thoughts would be greatly appreciated. Thanks!

Jeff, I only have 6 units. I recently downloaded DIYLandLord from the App Store. It looks promising, but I haven't dug too deep yet. You might check it out.