You can post in either the New member or the wholesaling questions and answers forum, but a great place to start is The Ultimate Beginner's Guide to Wholesaling. I do a lot of it myself so let me know if you have any questions.
You are correct. However we would not be continuing to build our SFR portfolio if the numbers were not shaking out for us.
SFRs normally do have higher risk for a capx and/or vacancy event to create 0 or negative returns for the year. We try to mitigate those risks as best as possible on purchase and capx portion of rehab. In our case quantity helps us because of our strict purchasing standards. If one of the SFRs does exhibit subpar performance it is lifted up by another SFR that is performing beyond expectations. That's where more of a multifamily lens is applied.
Appreciation is not depended on in our model. We are more long-term. After refi, principal paydown is our friend and helps mitigate any potential future decrease in value. Appreciation is certainly welcomed. :)
Would be happy to discuss the number granularities through direct communication channels.
No big deal. I was just curious what your COC is.
FYI: you can meet or beat MF vacancy by stretching out all leases on SFRs to 2 to 3 years. I do this once I get goo tenants in place after an initial 12 month lease. Some tenants have been with me for 10+ years with zero vacancy. That's not uncommon if you buy quality and screen for quality tenants.
@Brent Coombs I agree one should not substitute quantity for quality.
Which property are you referring to in the pics with a converted garage?
The very first photo on your site LOOKS (to me) like the bottom room was (previously) a garage, but, am I mistaken about that? If it never was, or, still is a garage, my oops! Cheers...
Investor · Southold, NY · Member since 2016 · 173 posts · 154 votes
10y
@Brent Coombs That is actually a garage. Was a good selling point for us to get a great tenant with a car. Roll in from work during the rain and walk up dry to your house. :)