All Forum Posts by: Tevin E. Taylor

@Joe P. What's your niche?

As a fellow newbie investor I think the MLS is one of our most powerful resources. I would recommend doing daily searches for properties that fit your criteria. Also having an app like realtor which can alert you every time a property that fits your criteria hits the market is a plus. It's also important to have you're realtor set you up with an alert. Make sure that your realtor fully understands your criteria so that they can help you in finding off market deals as well.

Also consider raising your offers. We all want to buy at the lowest possible price, but it's imperative to understand the the maximum price at which it remains a good deal for you. 

@Adam Rothweiler You're welcome! 

@Jonathan Bolano I think it comes down to what your goals are in terms of investing. Single family Houses definitely have upsides with one of the biggest being that tenants tend to stay longer and treat the property as if they own it. If you're  looking for stability as apposed to cash flow the this may be perfect for you. It is important however to have those reserves for when a tenant does leave and also to have a system in place to get the unit filled as quickly as possible. 

Also don't forget to take into account property taxes and insurance on the property that your already own. You will still have to account for these when renting it to a tenant.

@Adam Rothweiler I think an often overlooked component of property analysis is a title search. There is always the possibly of back due taxes and liens held against the property. Luckily these things are all public record. Simply go to the county assessors website and type in the address. It will give you everything you need. 

@Tonnita Owens As a newbie myself I choosing to start out in residential multifamily. I think house hacking is one of the easiest ways for anyone to get into real estate investing. It also allows you to add value as Andrew stated which will force appreciation and build you equity. 

I would also say that your investment strategy will be influenced by the market in which you invest. It's a good idea to to research your market and find out the norms i.e. do most post rent or buy, do they prefer apartments or single family, etc.

How's it going everyone!

My name is Tevin and I'm a recent graduate of the University of Illinois Urbana-Champaign. I currently work for an engineering consulting firm as an assistant project manager. I have always had an interest in real estate investing and since graduation have decided to jump in head first. My primary focus lies in multifamily buy and hold investing.  

I will be purchasing my first property in early 2019. Like a lot of newbie investors I'm looking to purchase and house hack a 3-4 unit building. I'm using the time between now and then to educate myself on the market, landlord tenant laws, and general invest principals/strategy. 

I'm excited to network with fellow investors and hope that we can share knowledge for mutual benefit.