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9 July 2024 | 10 replies
Here's how to get started and advice on each area:Section 8 Rentals:Education: Learn about the Section 8 program, including eligibility requirements and benefits for landlords.Networking: Connect with local landlords who have experience with Section 8 rentals for practical advice and insights.Property Selection: Look for properties in Raleigh, NC, and surrounding areas that meet Section 8 housing standards and have potential for rental income.BRRR Method (Buy, Rehab, Rent, Refinance):Research: Study the BRRR method to understand how to find undervalued properties, finance renovations, and refinance to pull out equity.Partnerships: Consider partnering with contractors, lenders, and real estate agents experienced in BRRR to streamline the process.Market Analysis: Analyze local market conditions to identify neighborhoods with potential for property value appreciation and rental demand.Airbnb Properties:Regulations: Familiarize yourself with local regulations and zoning laws governing short-term rentals in Raleigh, NC.Property Preparation: Prepare properties to meet Airbnb standards, including furnishing, amenities, and guest experience.Marketing: Develop a marketing strategy to attract Airbnb guests, leveraging platforms like Airbnb and optimizing property listings.Overall Strategy:Continuous Learning: Stay updated with industry trends, attend local real estate meetups, and consider joining real estate investor groups.Financial Management: Manage your LLC, Opal Capital Holdings, effectively to track expenses, income, and tax obligations.Long-Term Goals: Keep your multifamily apartment goal in mind, and progressively scale your real estate portfolio based on experience and market opportunities.If you would like some help getting started, or just want to discuss please feel free to reach out to me directly.
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8 July 2024 | 8 replies
@Shawn Kostoff, @Jimmy O'Connor, @Justin Seng, @Rich O'Neill, @Eric Armstrong, I'm sorry for reaching out on such an old thread, but I just purchased 2 rentals in the last 12 months in Delco and looking to scale my business.
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8 July 2024 | 4 replies
Partnering with a high salary/low time individual may allow you to scale much faster.
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10 July 2024 | 12 replies
Coaching is great when you want to an existing business and start to scale, not from ground to one.A decent rule of thumb for a first investment in-state is to cap it at 30-60 minutes of driving or else you will be too detached from it to learn and properly landlord.
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10 July 2024 | 11 replies
It was under my metric but the property was right next door to another property I own so I figured certain maintenance issues could be lumped together for economies of scale making it a better deal in the long run.
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8 July 2024 | 7 replies
And yes, many times, doing a cashout refi, even if rates are higher, will accelerate your scaling faster.
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8 July 2024 | 8 replies
Another benefit is you can enter the market sooner with a lower cost of entry( down payments 10-15%), helping you scale and make real estate a full-time income source sooner.
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10 July 2024 | 50 replies
The successful ones operate on a relatively large scale, often nationwide, and act as finder for many types of unclaimed funds, not solely tax overages.
8 July 2024 | 5 replies
That will of course take time, so what others have suggested will be a much faster way to scale your portfolio.
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12 July 2024 | 79 replies
We have a goal to scale our business within 5 years to 10 properties or so, with a ultimate goal to replace our day jobs with real estate income.