All Forum Posts by: Aristotle Kumpis

Hi Victoria. I have two great companies and agents in Memphis. I am happy to introduce you to them. I also have 3 rentals in Memphis myself, and worked with one of the companies. 

Here's a great opportunity to own two homes on one lot in booming downtown St. Petersburg! Serious inquires only.

-$550,000 for both properties

-First house is fully remodeled. 1,286 Sq ft. Currently rented for $2,300 per month

-Second is brand new construction and is an ADU. 721Sq ft. Estimated rent is $2,100 per month

-Not located in a flood zone

-Get both cash flow and growth with these properties

Hi Amy. Its not too difficult. I own several out of state properties. And the are all managed professionally. I have gone through a few different ones over the course of 12 years. Anytime there is an issue, they call/email me. And when a tenant moves out, they send me photos and the turnover fees. Its pretty simple. 

Hi Justin. Tell us what you are looking to accomplish? Are you looking for "deals" so you can rehab and flip? Or are you looking for long term, short term rentals?

I've used RE Cost Seg. They are great. I believe they charge $2500 for a property up to $700K.

We have a mixed use apartment/commercial property for sale where the owner would entertain seller financing. Other than that, you will need to network with a lot of people to find seller finance deals.

Hi Matt. Welcome. Do you mind me asking how much you would need to replace your income? Since you are looking for cash flow mostly, you should consider multi family property. To give you an example, a 4-plex may cash flow $1200/month net after you put down 25% down. And depending on where it's at, it could take $100K-$200K for the down payment. These are just rough numbers. You could find less expensive property in a not so good area. But I find that most people want to invest in areas that are solid and that don't have bad tenant quality.

So if you purchased one 4-plex each year, after 10 years you would have about $12K per month in cash flow. Not accounting for repairs etc. Not to mention equity in those 10 properties. If you need to more than amount per month, you will need to buy more units or buy more than one each year. Again, this is just an example.

I probably would not recommend you buy single family homes if you want to replace your income. A Single family home would give you a few hundred a month in cash flow. It would take lots of them!

Hi Nish. Fort Wayne is a good market. Indianapolis is also a great market. I personally own 2 rentals in Indiana. I have a builder that is constructing 2-4 units in Fort Wayne. Not sure what you are looking for.

Hi Nishil. Its a pretty good market. Indiana in general is a good state to invest in. I personally own 2 rentals in Indiana. I work with a builder that is constructing 2-4 units in Fort Wayne. Not sure what your looking for.

Try to make a goal of buying 1-2 properties each year. Leveraging property with financing is a great way to scale. Or you could pay cash now and refi later. I don't know which one would be better. There are builders that are offering really low rates. I have a few that have rates in the 4% range. So that is another way to scale using leverage and still get positive cash flow.