Jayne K Williams
New Investors want to buy/build 4 plex
9 August 2024 | 2 replies
I just want to make sure I have this correct because that is not a thing.If your goal is to leave your job, it's not going to be through one investment and it's certainly not going to be feasible to build a 4-plex in Vegas or Henderson unless you have a solid bag of cash somewhere.
Stan Minkinow
Looking into developing a "Tiny Home" / RV Park Community
8 August 2024 | 4 replies
You need to have enough money, probably in the $100-150k, amount to put the property under contract, and do the feasibility study on the property, Phase 1 Environmental, Property Drawings for roads, water sewer, and utilities, and have a completed budget so you know what your costs are.At that point you can go out and attract investors, I don't thing that developing raw land is necessarily cheaper than buying discounted finished lots.
Andrew A.
Be brutally honest about my strategy!!!! New to real estate!!!
9 August 2024 | 18 replies
Here’s the plan I’ve come up with, and I’d love to hear your thoughts on its feasibility, potential risks, and any improvements you might suggest.The Plan1.Pay Off Mortgage: I currently have $170K left on my mortgage, and my goal is to aggressively pay it off in the next 1.5 years.2.Establish Emergency Fund: Before making any big moves, I’ll set aside 6-12 months’ worth of expenses as an emergency fund.3.Extract Equity: Once the mortgage is paid off, I’ll pull out the equity from the property.4.First Flip: Using the extracted equity, I’ll purchase another house, fix it up, and sell it for a profit.5.Reinvest Flip Profits: Instead of buying another property immediately, I’ll use the profits from the flip to renovate the original property, aiming to increase its rental income and appraisal value.6.Reappraise and Extract Equity Again: After renovating, I’ll get the original property reappraised and extract additional equity based on its increased value.7.Purchase Rental Properties: With the additional equity, I’ll start purchasing rental properties that offer positive cash flow and have growth potential.8.Leverage Equity Strategically: I’ll use equity from the original property and any new properties while maintaining a healthy loan-to-value ratio (LTV), ideally around 70-75%.9.Build Rental Portfolio: I’ll focus on acquiring a mix of property types (e.g., single-family homes, multi-family units) to diversify my investments.10.Focus on Cash Flow: I’ll prioritize properties that generate consistent positive cash flow, ensuring that rental income covers all expenses, including mortgage payments, maintenance, and management fees.11.Long-Term Hold: I’ll hold properties long-term to benefit from appreciation and tax advantages.
Frank Patalano
So what's holding you back?
19 August 2024 | 3705 replies
I’ve done a few houses now and want to do a large multi family syndication or medium storage complex.
Ronald M Padilla
In need of some help/direction on what to invest on next.
8 August 2024 | 4 replies
I’ve also thought about self storage and in many places in the country you can get into a facility for $250K.
Matthew Gentile
How do the numbers make sense?
6 August 2024 | 29 replies
Trying to get her into Self Storage so I can be the paid Guru and get a free lunch from her.
Stephen Moskowitz
HEEELLLP!! How do I find a mentor if I'm overseas????
9 August 2024 | 8 replies
You don't want to start a relationship to learn about storage units and then find out they only invest in single-family homes.3.
Drew Herzog
Im 18 and just starting out
6 August 2024 | 4 replies
So we went into the commercial space and pivoted to self-storage.
Nancy Durso
Exploring Financing Options for Real Estate Investments
7 August 2024 | 6 replies
These loans are more expensive and have high interest rates most of the time.If you are purchasing a commercial property (5 units +, storage units, and so on) then you need commercial financing (above options are geared towards residential).
Zhihan Wan
Month To Month Rent After Extented Lease
8 August 2024 | 11 replies
If you don't allow them to stay, they will likely need to go to a long term stay hotel or something else similarly expensive PLUS pay for storage for their belongings, PLUS pay to move their belongings twice rather than once.