All Forum Posts by: Walter Key

The numbers don't lie.

@Gino Barbaro Any advice on how to acquire 650 units!?! I wish I had your problems. :D

It's already been said but, the quality laminate wood seems to be the go-to these days. I love the idea of concrete that was mentioned earlier but that may be a long-term conversion project that you have to slowly do as the units turn over tenants.

You had a company take out credit cards for you? How much did they charge you (other than the 10% total fee) to do this?

My number ONE question I personally would want to ask him is... 

"Tell me your THREE biggest failures and what you learned from them."

Stainless in a rental completely depends on the market your in and if the rent supports the nicer touches in the kitchen.

Buying in bulk can save money but you have to have both the extra cash and the extra space to do so.

I recently came across these sites while researching appliances myself. The prices seems to be very fair for appliances and appliance sets.

http://www.us-appliance.com/

http://www.brandsmartusa.com/

I have ZERO affiliation with either of these sites. Just passing on what I've found.

When you say "Your Family", are you referring to your spouse or to some other members of your extended family? I won't tell you which one I think you should do. I think it's best you compare the two options side by side and decide for yourself. I will however give you a little piece of advice. If you're referring to any family member outside of your spouse (which it sounds like you are), their opinion is no better than mine. You and your spouse control your future. Unless your extended family is going to loan you money, they have no say whatsoever in how you spend yours. Just my $.02

@Keith Mccormick Any update to this? Did your deal go through or are you still in progress?

If your goal is to continue to acquire more property, then it goes without saying that you should tap your current equity and use it to fund more deals. HOW to tap the equity become the real question. HELOC, Cash-out REFI, Sale and 1301, etc? Just my $.02...I'd probably take out a HELOC so the money is ready to go as soon as I need it but I'm not committed to a loan immediately. You could potentially use the HELOC to fund multiple down payments and use the cash flow from the new rentals to pay back off the HELOC, thus clearing up funds for more properties in the future.

If you've got properties with 30%+ equity, then you've got room to make a deal. Not every owner is going to bite, but that's just the name of the game. If you can work a 10%-20% discount off the purchase price (since the equity supports that), then perhaps you've got a deal worth making.

This could be answered many different ways by many different investors because everyone has different goals and objectives. For me, I like to see at least $150/MO cash flow per door for any buy and hold investment. Some will say $200/MO is the minimum you should shoot for but I'm OK with $150. Different strokes for different folks I guess.