All Forum Posts by: Wale Lawal

@Alecia S.

Looks like you already got good responses already. 

Goodluck

@Matthew Sweere It's a win because of the location and potential income it can generate. Renting to Travel Nurses is definitely a great strategy. They make good income, I know this because my wife is a Nurse. 

You are way ahead of your peers that just talk about it but never take any action to actualize it.

You may also consider AirBnB IF it's allowed by the Townhouse management or the HOA.

@Steve Alexis every MLS listing has almost all the information you need to analyze any deal including tax rate, HOA, Flood Zone etc. You can use Rentometer for rent comparable or get it from your Realtor if you are using one.

Goodluck

@Harshavardhan Mukkera This is not true If you have your 20% Down-Payment and your DTI is less than 30% you will be fine.

But you need to understand how to analyze a small multi-family property to know if it's even a deal before you deploy your resources on it.

Goodluck

I normally host one meetup every last Thursday of the month as well.

Here is the link to the next one: https://www.biggerpockets.com/...

Hope to see you guys there.

It's 3bed/2bath in 1200sqft in Conroe. It's a new subdivision that intend to build 900 SF Houses. Property is now selling for $190,000 still a good deal at the current price.

Goodluck

@Cameron Tope Great point on looking outside the loop. I believe I already discussed this with @Steve Alexis but where is the discount in this highly competitive market?

@Edward Adams That's Funny. You can't give up man. To make your analysis easier, I will suggest you just add $15,000 to the listing price of every property you are analyzing because THEY WILL SELL OVER ASKING PRICE.

The market is insane right now because of the Low Interest Rate as low as 2.5% on a 30-Years Loan.

Goodluck

@Matthew Sweere Huge Congratulations and Honestly this is still a win for you and your partner. 

Cash-Flow is not the only thing you look for in a deal. Location and desirability of a property is critical.

This property looks great and I bet is in a great location as well because of the $1000 monthly rent per tenant is very high for most location. I am sure you guys are already seating on some equity already in the house.

Did you furnish the rooms for the tenants?

@Harshavardhan Mukkera

I will strongly advise you start from Houston for your first purchase since you are local. You can expand to other markets once you have the experience and systems in-place to leverage on. Like @Cody L. mentioned, Houston is always on the top 3 list for most Out-Of-State Investors - There is a reason for this. So take advantage of it.

My response/opinion to your questions:

1. Am I risking too much for a newbie by getting into MF rather than start off small with SF ?

No you are not. It's a great strategy to start with Multi-Family if you have the education and the capital to do so. 

How to Make Big Money in Small Apartments - By Lance Edwards and Ron LeGrand is a great book to start with.

2. What are the key details to look out for on the property selection? Location, Quality of Potential Tenants, Crime Rate, Price to Rent Ratio etc. The book will educate you more.

3. Are there any sequence of steps that are recommended while getting started on MF properties ? Not really Just know what you want and go for it.

4. Are there any recommendations on the experienced relator in Houston area ? Yes, I am an Investor-Agent and Investor myself, I believe I can help.

Let's connect and see how I can help you.

Goodluck.

THIS IS A PHYSICAL MEETUP...NO ZOOM OPTION AT THIS TIME

THIS IS A FREE MEETUP TO HELP EACH OTHER GROW.

There are several ways to FIND & FINANCE Rental Properties. We will discuss and brainstorm on how you can find and fund your first or next Rental Property. We will also discuss the common pitfalls for new investor to avoid.

This will be an engaging discussion to understand your goals and see how we can help each other grow.
We will share FREE strategies and systems as we believe Real Estate Education should be available for FREE to everyone who is ready to Take Action!

This is an event you do NOT want to miss!

This is a FREE event so invite anyone that you believe this will help!

* THIS WILL BE A LIVE EVENT AND WILL BE HAPPENING EVERY LAST THURSDAY OF THE MONTH AT 6 - 8 PM CST at:

Heights Bier Garten, 1433 N Shepherd Dr Houston, Texas 77008

What is this group's core focus?

The purpose of the Mastermind group is to get a group of SERIOUS game changers and New and Experienced Investors together and support each other to grow our Real Estate Investment Portfolio.
You will benefit from expert advice.
You will get answers to your questions pertaining to your personal situation and goals.
This is your chance to have be an educated investor and have the best minds in the business in YOUR Inner Circle while you are getting answers to your questions face to face and in real-time!

PLEASE INVITE ANYONE THAT CAN BENEFIT FROM THIS.

Thank you