It’s all about finding a balance between purchase price, financing terms, and smart rental management so you’re not forced into the red.

The quaility of old existing units, and the ability of the long term population to pay new rents, blended with an influx of small high end mill conversion units is simply not balanced.

We will pay off a few more loans with smaller balances, even though they are lower interest than what we are getting on new acquisitions.

We paid ours off when our balance was $125k, but on a 15 so payments were fairly high at $1732 PI.

Anything that was not paid back after the first 6 months accumulated 1% per month ($500) to the balance owed.

As I built my team and delegated responsibilities I was able to achieve a better work/life balance. 

We syndicated 75%, plus costs of the purchase price and financed the balance with a traditional loan.We shopped around for weeks to find the perfect loan with the best rates and terms.

When interest rates rise, in a balanced market, rents should rise, as the alternative to renting - buying a home - becomes that much more expensive.

Louis, Memphis, and Birmingham offer a good balance of affordability and rental demand, while online platforms, auctions, and networking with local agents can help you find undervalued properties.

Starting with a manager might be wise if the property is far or you’re balancing other commitments.