All Forum Posts by: Adam Eckhoff

Hello Everyone,

Hypothetically speaking, let's say you accrued an amount of $100,000 and you have the goal to invest in real estate. That being said, is it as easy as buying 5 to 10 $50k to $100k properties in Central USA, and securing a section 8 tenant? Assuming you get a management company to look after the properties (since i would be out-of-state investing). Or am I missing something here? 

I've looked into buy and holds, short-terms, long-terms, BRRRR's, and section 8's.

Thoughts on Long-Distance Section 8?

Thanks,

Adam.

Quote from @Kerry Baird:

@Shawn Mcenteer, your last sentence is spot on.  

My problem is my wife and i now have a 9 month old and she does not want to move into a duplex (i dont blame her). So im definitely looking for any other options. 

Do i just purchase a $200k duplex or SFH in a crappy location that has positive cash flow? Manage it myself to save on the expenses?

Hi Everyone,

After years of saving, I finally hit the $100k mark (invested in an index fund). Eventually, i would like to be a real estate investor; whether it's renting out a single-family dwelling, duplex, etc.. 

I currently own a SFH with my wife. We purchased for $350k and now, homes in my neighborhood are valued $550k.

My question is how would you invest your first property in this situation. Would it be better for me just to keep my money in the index fund? Or, should i take $40k to $80k out for a down payment on a rental property? If it's in NJ i would self manage. Should i invest out-of-state? Would you guys suggest taking out a HELOC. If i purchase a rental property for $80k down (will have $20k left.. just rounding here), how will i save up enough to purchase the second rental property? i feel like it would take forever just to save up..

I really don't know what to do. Any insight would be extremely helpful. 

Thanks,

Adam. 

Commercial Appraiser NJ

Good Morning,

My name is Adam Eckhoff, commercial appraiser in New Jersey. I'm looking to purchase my first rental property; however, I'm posting to hear your thoughts on this one. Quick background, purchased my first home with my wife at $360,000 (value increased to $550,000 (wow great investment!). Let's say i have $100,000 ready to invest.

Single-family residence or duplex. Let's throw a hypothetical situation in the mix and say that either one that I purchase, it will generate a realistic $150 to $250 per month. That being said, it will a very long time to save up and purchase a second property. How do I get the ball rolling where I can purchase another property. It appears that the "buy-and-hold" method does not seem possible... Maybe the BRRRR method?

This is what I'm thinking - "wow I just purchased my first duplex bringing in $200.00 per month! wait, now I have the headache of being a landlord and managing the property. Dang I should have just kept my money in the Index fund..." "Well, I just dropped all my money on the property, now I can't purchase a second one until I save up another $50,000 (that will take a very long time with the $200/mo. income). This seems pointless!"

Thoughts? 

Regards,

Adam.

Hi Guys - looking to buy my first property. Just trying to pick all of your brains, maybe you see something that I don't? Or maybe, you are asking the question that I'm not thinking of?

Here is a SFR for sale. At the end of the day, let's say the mortgage is $900 per month. Well, 4 bedrooms rent around north of $2,000 per month. Why would I not get this under contract, and try and rent it out?

https://www.realtor.com/realestateandhomes-detail/567-Ackley...

Thanks,

Adam.

Hey Guys,

I'm looking to purchase my first property. I was looking on realtor.com at a property worth $279,000. At the end of the day, lets say the mortgage payment is $2,200. The subject consists of a four-bed and two-bedroom unit. The monthly rental income would be between $3,600 to $4,200 per month. 

Doing quick math, I believe I would be making a profit on this... Why would someone not pull the trigger on this property? It seems like this is an easy investment to make... mortgage is less than rental income.... What should i be thinking before purchasing a property like this? What do you savy investors see that i dont see when looking at a property like this?

https://www.realtor.com/realestateandhomes-detail/53-Kelsey-...

Thanks,

Adam.

Quote from @Brittany Minocchi:

The catch is that this is for owner occupied 2-4 units 😬 if you're not living in it, you're still putting 25% down. 

Ahh I knew there was something. Thank you!

Hello Everyone,

Fannie Mae introduces 5.0% down for MF Properties as of November 18, 2023, aside from the normal 15-25% down. This may seem like a silly question, but is there a catch? 

For example, a $400,000 at 25.0% down is $100,000, which maybe a lot of people don't have for purchasing their (or my) first rental. Conversely, with the new 5.0% down, $20,000 is reasonable, and we have some left in the bank for emergency funds. 

With this news coming out, should we all be pulling the trigger on multi-family properties.

https://themortgagereports.com/107690/fannie-mae-introduces-...

Thanks,

Adam.

Good Morning Everyone,

My name is Adam Eckhoff, commercial real estate appraiser in New Jersey. I'm considering investing in cash-flowing properties out of state. For example, lets choose Ohio. I see multiple properties listed between $75,000 and $150,000 and also meet the 1.0% rule. "Assuming" the property cash-flows, would it be EASY as putting 20% to 25% down for the property, and finding a management team to take care of everything else? Or am I delusional? Would i be better off putting the $100k in an index fund...? Would buy and hold rentals not be worth it? Maybe BRRRR is the right method? I don't know... How would you guys invest a lump-sum of money into real estate, looking for your first property?

Thanks,

Adam.

Good Morning,

My name is Adam Eckhoff, commercial appraiser in New Jersey. Quick question for you all... Let's say I search for a $200,000, 2-unit duplex, on Realtor.com located in let's say Columbus, Ohio. Hypothetically speaking, let's assume the duplex generates $500 per month in income (after expenses, management, etc..).

Why would I not just pull the trigger and purchase the property, assuming I can find a management team to take care of it. 

How would i get money back out to purchase another property (how could i leverage it). Do i just save the $500 a month and use that to purchase another one down the road (assuming i living in a perfect world with no repairs/reserves/ cap exp..)

Thanks,

Adam.