Quote from @Julie Gates: @Richard Elvin if you decide to purchase an STR in the outskirts, I have a 3 minute YouTube video I can send to you.

pretty tough go starting out the gate.. can you ease into it sure over the course of many years.. 

Few factors that drove me to mf right out of the gate: 1) only get so many Fannie/Freddie loans on traditional financing so I wanted as many doors under each loan as possible 2) can consolidate cap ex protects like new roof/siding (though keep in mind, bigger/taller property will mean more $$ for each project than a sfh--though still cheaper as a whole) 3) closing costs are roughly the same for a sfh or triplex so better to get a 3 for 1, 4) especially if youre out of state like I am, easier to track and manage everything for 6 units in two properties rather than 6 separate properties (I use property management but you still need to monitor/manage the pm).

I added a secured gate at the front of the property, created a garden for tenants, renovated the courtyard adding a fountain, and painted.

When the financial crash happened in 2008, people were walking away from their gated homes, people weren't paying rent, and there were a ton of vacant homes being squatted in.

I have an opportunity to buy a nice 1x1 condo for $240000 in an decent area of Santa Ana (which is an OK area of central Orange County [it isn't the safest, but it's very convenient to a number of business/universities with lots of potential renters]).The condo is 713 sq ft, with community laundry, semi-upgraded (newer/upgraded cabinets in the kitchen, laminate flooring throughout, tile counters), carport + 1 extra parking, large patio, 1st floor, corner unit, lots of light, safe/gated community with good amenities (pool/spa, club house, sauna, small fitness room), location is convenient to shopping, freeways, other cities, etc.Purchase price would be $240K with 20% down.

That said if you have a system of follow-up then building relationships with the non motivated callers will produce ripe fruit down the line.The issue with that is that most investors starting off need ripe fruit right out of the gate not 6 months later.Postcards are going to give off far less busy work and tend to have a better motivated caller.

Bill Gates dropped out of Harvard. 

I'd like to hear this one. it only taks ponding each letter 3/4 tims to post here took 1 min ++ to do this!!!!!!!

I want to move forward, but I don't want to make a fool of myself and destroy my creditability right out the gate.