New to Real Estate · Indianapolis, IN · Member since 2019 · 6 posts · 3 votes
5y
@Cassidy Burns Purchase my first rental property this year by myself away from my family business. I want to get invested in a duplex where I can rent both sides between the price range of $120k-$140K and maybe a little higher depending on the location.
Investor · Boston, MA · Member since 2017 · 4 posts · 1 vote
5y
My wife and I are looking to house hack a Quadplex / Triplex this year in the Boston area. Have put a handful of offers in but no luck yet... It has been a tough market as of late for buyers. Hoping to generate some passive income and begin our REI journey together and set ourselves up for the future! Good luck to everyone.
Investor · Alexandria, VA · Member since 2016 · 859 posts · 460 votes
5y
@Amir Estimo I'm also interested in the short term rental market. Does you market support the numbers? Highly trafficked ?
@Elmer Glick@Reginald Ross both awesome numbers. My goal too is to add 60 + doors over 1-2 multifamily properties. I'm evaluating at 41 unit currently and a 15 unit so that could do it. BUT, that being said, CAP Rates are depressing in the multifamily space, due diligence is more important than ever right now.
Investor · Alexandria, VA · Member since 2016 · 859 posts · 460 votes
5y
@Hai Loc $550k earned income is a great and very easy way to get started with investing. I suggest allocating %s and putting certain percentage to work. And I agree , early in my career I was purchasing the "cheapest" properties trying to get the 2% rule, strictly because that is what Biggerpockets HYPED up . Boy were they wrong. Higher quality properties, higher quality areas, better tenants, better returns.
Invest a bit more time reading about real estate investing, I’ve listened to podcasts for quite sometime already. I’m just looking for some clarity to fully understand the proper steps I should be taking before making the leap! All that while saving up to buy my first rental property as soon as possible!
Rental Property Investor · Inlet Beach, FL · Member since 2018 · 199 posts · 111 votes
5y
@Cassidy Burns
We are currently under contract for a long-term rental, and looking to get another investment as soon as possible.
Could be Q4 this year. Maybe Q1 or Q2 in 2022.
2021 is to re-establish our land lord status. Want a good tax filing to open up some more financing options.
If we can find a multi-family (2 or 3 units), then we'll work to secure that... before we target commercial buildings.
I also want to invest more in REITs, but with the changes in the world, it'll be important to pick REITs in infrastructure and data and maybe not commercial/retail.
I like posts like this it’s great to hear everyone’s goals. I’m super excited, Been studying real estate on here for 2-3 years and just paid my pickup truck loan off two weeks ago. That was my big goal! Now the next step is to pay off my 2k credit card and I’ll be ready within a couple months for my girlfriend and I to go get pre approved for our first duplex here in ny! Can’t wait to begin real estate investing, fixing it up and also have space( a small garage) to work on my fun project car in!
Contractor · Chicago, IL · Member since 2020 · 25 posts · 8 votes
5y
@Cassidy Burns
My goal for 2021 is to analyze at-least 5-10 deals and pull the trigger on my first multi unit property. The only obstacle in my way is having enough saved for down payment and expected cap ex for the first few months.
Houston, TX · Member since 2019 · 23 posts · 3 votes
5y
@Cassidy Burns acquire a portfolio loan for investment properties were holding. Secure funding to purchase a small to medium multi unit complex or find a builder to build a complex.
Realtor · Wasilla Alaska · Member since 2019 · 129 posts · 94 votes
5y
I'm doing the "12 week year" thing this year for the first time. So instead of annual goals I'm having quarterly goals.
Q1 (ending next week) Acquire more property (either below market or with forced appreciation potential) such that my net worth as well as monthly cash flow increases by 5% each for the quarter. Status: Accomplished. Purchased a discounted note and a distressed 4 plex. Have another distressed duplex pending that I might try airBnB for my first time doing that.
Q2 Finish my taxes on time this year... Time to re-visit asset protection (insurance, entity structures, and tax strategies) with qualified professionals. Stabilize 4 plex and duplex (if closes as planned) by finishing rehab on both.
Q3 and Q4 are undecided so far. I'll decide on Q3 closer to the end of Q2, yet one thing I know I want to do before the end of the year is refinance the 2 and 4 plex for cheaper money. I'd like to increase cash flow and net worth again and I'd like to start a subdivision project (possibly a syndication) as well, using the lots to fish for builders for my Realty team.