All Forum Posts by: David Pere

I wouldnt use that term on my own accord, the selling agent (representing him) has stated that he is known as the slumlord of the area haha. I appreciate the advice!

I really appreciate the advice, and I'm glad that you are suggesting I continue looking. I was trying to justify that I wasn't walking into a blackhole, and I appreciate the optimism. Thank you very much!

Good Morning, Afternoon, or Evening all.

There is somebody in my area of investing that is trying to offload a lot of houses. I'm assuming that they have reached retirement and are content to sell and relax. This individual is selling houses below market value, and if the advertised gross monthly rent is accurate they would be a great deal!

The issue is that this individual does not maintain a copy of the lease agreements for any of their property, doesn't maintain profit/loss statements, and can't tell me what kind of maintenance might be needed. I am currently stationed across the country so I can't physically go look at any of the properties. Any advice on how I could attempt to verify the information, or is it worth taking the risk because an 80k property supposedly rents for 1800 a month. Is the best bet to turn my back to all of the properties listed, and ignore them?

Any advice would be greatly appreciated!

@nicholausmeyer Semper Fi, im going to shoot you a friend request since you seem worth talking to. im currently stationed in Hawaii, but just left recruiting duty where i was stationed in Springfield

i am excited about the growth in town. currently stationed elsewhere, but looking at buying more properites in town. could you name one or two of the portfolio lenders you mentioned? im not familiar with them

friggin new guy hahaha...and thanks to both of you!

Good Morning,

My name is David, and I am very interested in growing my rental real estate portfolio. I spend a lot of time researching, and learning. Eager to grow in knowledge, and portfolio. I've been in the Marine Corps for over 8 years, and I'm currently stationed in Oahu!

I'm still fairly new to the REI world, only own two houses (three units). Ready to make another purchase. And the numbers seem to flow on three of that many I've looked at.

-One is a 4-plex (house converted to triplex, with a efficiency added on).

-One is a 2/1 house with a 2/1 & 1/1 duplex on the same lot.

-one is a much discounted house converted to triplex (with additional unit added to make it 4-plex) that needs about 12k repairs.

Numbers flow the best in the last oje, but I'm hesitant due to the repairs, and conversion. I feel the duplex and house lot safer. My question is whether a house converted to triplex (or 4plex) is a more risky investment than a duplex that was built as a duplex (numbers asside). I feel like it shouldn't matter, but when I bought my first duplex my lender talked me out of a triplex saying they aren't worth it unless they were built originally as a triplex. Thank you for your time all.