All Forum Posts by: Todd Anderson

A.J.,

I work with investors that do this all the time.  Most of the investors I work with are looking at doing a cash out refi every 2-5 years, depending on the market.  

So for the investors I work with, we look at New Construction In vestment property.  With this they don't have to mess with the renovation headache.  We get investor pricing on the property so that the property cashflows day one.  with normal appreciation in a growing market in 2-5 years there is enough equity to refi.  the proceeds of this refi then serve as the downpayment on another property that cashflows.  And continue the process.  You can continue to do this soon as you have enough equity to get another investment. 

The only way the system does not work is if you take the refi money and don't het another property that cashflows.   

Feel free to connect for a more detailed explanation.

Best of luck.

Rafael,

Unless you are looking on buying a full time job, Why would you buy a 10 unit with out having it managed.  I did this for myself but it was my full time job, and even then the Olly time that I was really able to scale was when I was using other professionals.  

You say that you are doing well in your logistics business.  Keep working on that.  Let someone who has already learned the Real Estate business work in that.   Most of the investors that have been able to scale have their entire team.  Let the pros do their jobs, whether that be Agent, Property Manager, lender or Acquisitions.  

You have to keep your long term goals in mind and not just look at the little money that pro's charge.  I have found for me a landlord friendly sate like Florida is hard to beat.  I moved investments down from the midwest where management was getting challenging.  I also believe that the appreciation on a long term is better in an area that people are moving to. 

Best of luck and please connect if you need more help.

With many of the investors I work with the number one fear is :  Taking The First Step and saying YES. 

So many new REI get stuck in the "paralysis of analysis". Many times even looking at a good deal it is hard to say yes to that first deal.

John,

Welcome to BP.  this is the place to get those answers.  and good for you for making these plans before you start.  With a partnership its is always better to get all the issues covered and planned for before you start, including how it will end if someone want out.  

I don't have a specific laser to recommend but I have used a Real Estate Attorney that is very familiar with contract law.  This type of Attorney should be able to help with the formation and the continued additions of the properties.  

For the CPA i have recently worked with Investor Friendly CPA.  I have been very happy so far with the work they have done for me.  They have been able to handle my investments in mutual states with now problems.  

Let me know if I can help you in the future finding good New Construction Properties to start your investment.

Best of luck.

I have found that that is a mistake that a lot of new investors make.  as said above by Clay rentals need to be bright, Clean and working.  Don't get caught into over renovating.  There are things that you will see or like in your house that don't matter to your tenants.  Over Renovation will just cost you money for no reason.  It is much better especially when you are new to stick to the renovations that will mater for your tenant.

Best of luck

Frank,

I talk with out of sate investors all the time looking for the same thing.  This certainly can be done.  

What most of the investors that I work with look for is a turnkey process.  It is a little problematic to build a team of people that you have never worked with before.  I suggest to investors to find a situation where all the pieces are put together for you.  From finding the investment, to lending, to insurance, and property management.  And most importantly is to work with someone who is "Boot on the Ground".  

Let me know if you would like to connect

Jared,

Is there a reason you would look to have the risk of a Flip venture.

I would suggest looking as you said above In to a Larger Long term rental of Single or multi family.  with that cind of capital it would make sense to me to look at a Build to Rent community.  You could certainly look for individual units but that would take longer. Some of the investors that I work with find,  to build an entire community if a far easer and more lucrative way.

I may know of some options that could fit what you are looking for.  

I look forward to you connecting.  

Joshua,  

It sounds like you are on a good track. What you described is House-hacking. When the investors I work with use this strategy, they normally opt for a 5% down conventional loan. I advise that they find an area where the appreciation is obvious. Then with appreciation and saved cashflow they can reappraise and get rid of the PMI. This allows for much greater cashflow and quicker time to buy the next property.

 I also work with investors that value a turnkey proses.  Most have also been impressed to see this can be done on new construction properties.  this offers less repairs and greater rental possibilities because the property is in the best condition posable.

Feel free to connect for any more information.  

Christopher. Welcome to BP. There are opportunities around but in a market like we are in now you need to make sure all the numbers work. I have been working with some investors that are very excited about the small multi fam in the Jacksonville area. With skills like yours you should get connected to a REIA in your area and find someone to work with.

Emmanuel,

I hope your property in the Cape is working well for you.  I moved to Cape Coral just over a year ago and love the area for both living and investing.  

I work with a number of investors now that are looking for the same thing. I have partnered with a number of production builders that are starting to do what you mentioned. Along with building SFR they are also building duplex, three units, and quads. One of the hotter areas that you should look at is a little further North in Ocala.

Let me know if you would like to connect and talk about more opportunities.

Best of luck.