All Forum Posts by: Trevor Bogus

@Patrick Daniel I would love to connect and pick your brain on your experiences. I'll shoot you a PM.

@Andrew Postell Thanks Andrew, I appreciate it. I'll check it out. 

@Michael Hamby Unfortunately, I was unable to make it tonight, but I appreciate the the recommendation. I'll shoot you a PM. 

Hello! I am looking to connect with real estate agents and investors in Pensacola, FL. I would love to discuss experiences and the market with like minded individuals!

Cheers!

Hey Jake,

My partner and I bought a 4 plex in March that we have been house hacking. When analyzing the property we chose to include the mortgage insurance because that was going to be our actual payment each month. Plus we wanted to be conservative with our calculations, and not talk ourselves into something we couldn't handle. 

As far as your second question, I'm hopeful someone else will jump on this thread to answer it because I am curious as well. I'm guessing it would also depend on how much "sweat equity" you plan to put into it and rent increases you anticipate. 

Cheers!

Thanks for the reply Tyler. I will reach out to some lenders to see what could possible fit us. 

Have you had success with reaching out to owners directly? If so, what does that conversation look like?

My partner and I currently own a 4 plex apartment with one unit as long term tenants and 2 units as "mid term" rentals (min 30 days). We are currently looking at finding and financing a 2nd investment property. We are ready to make a move, however we don't really have direction or advice on where to start. We used an FHA loan on our current property, since we live in the 4th unit.

We would like to BRRRR or flip a single family home next, or acquire another small multifamily. How are people finding properties that are below market value? How are you financing them? I don't know if we have enough equity to refinance out of our FHA, but that could be an option?

Any other suggestions or experiences on how you scaled your Rental Portfolio would be greatly appreciated. 

We recently purchased our first investment property through an FHA loan (3.5% down). I think you could say we now have the real estate bug because we cannot stop thinking about out buying a second property. With that said, we need a way to finance it. We could likely save up for a down payment on conventional financing in the next year, but what other strategies have you used to finance your second deal? Hard money, seller financing, other? How did it work out?

Thanks in advance!

@Michael Plante thanks for the insight

@Evan Polaski "taking a pay cut just to learn how to hang cabinets is actually moving you away from your goals, versus towards it". That is a great perspective that I had not really considered. The idea of learning trades is definitely intriguing to me, however I can learn most/if not all through work on my own property over the course of a couple years. I appreciate you sharing your experience. 

My girlfriend and I just bought a 4-plex that we will be house hacking. The property needs a bit of work, some minor some major. We have enjoyed most of the work we have put into the place so far, but realize that we don't have the skillset or knowledge right now to do most major things. Our goal is to quit our 9-5s down the road and submerge ourselves into real estate through flipping, BRRR investing, and/or buy and hold. I have considered quitting my desk job to move into a carpentry/construction position. I would make less (short term), but learn way more than I could on my own (At least my view point). I would love to hear how people got into the flipping, rehab, and BRRRR strategies? Learn by doing, work experience, YouTube?? Thanks!

Erin,

We recently purchased a 4-plex in Durango where we intend to rent one unit short term 30+ day furnished. So, since I can't answer your post (Yet!) I will turn it back on you. :) I would love to know how you have found success in getting your apartments rented this way? Where do you primarily advertise? 

What a great post, I am glad to see you found success with the 30+ day short term rental option! We recently purchased a 4-plex in a small-sh mountain town in Colorado. We have the same local laws that within specific zones only X amount of short term rentals are allowed. Because of that we are planning on advertising one of the units on AirBnB for 29+ night stays to take advantage of the "loophole". We are nervous that we won't get it rented out, but worse case we can take out the furniture and look for long term tenants. I haven't heard of Furnished Finder, we will definitely check that out. 

How were you able to find immediate success with your listings? Or was it a trial and error? I would love some suggestions.