All Forum Posts by: Aristotle Kumpis

I have a great recommendation. Feel free to DM m. Happy to help. Thanks.

I love the program, as it helps many people who can't afford housing. I have a few rentals with section 8 tenants, and they tend to stay on average 4-5 years. So it helps keep the turnover lower. You need to work with a property manager that has experience with this, unless you plan on doing it yourself. Overall, it's a good system.

As the others have already mentioned, do your homework on STR's. So many people got into them years ago and now it seems over saturated. I have a few investor friends that are getting out of them due to new city laws and the fact that some places have high competition, so the income is much lower. Be sure you calculate the $25K in furnishings as well. If you are looking for cash flow, you might be better off with a 4-plex instead.

Isn't this happening in many markets thought? I see agents and wholesalers trying to sell properties that are supposedly wholesale, but they sell at retail after it's marked up so much.

Quote from @Mathew Gichohi:

Can you please send me the details. Thank you 

Hey Mathew. Sure thing. DM me or send your email address. Thanks.

You should first decide on what your investing goals are. That's a huge thing to consider. Is this for retirement? Looking to be job optional at some point? Or maybe you want extra income now. I say this because there are many strategies with investing, so you should figure that out first. If you are going to finance, it doesn't hurt to get qualified by a lender. But you might not need that yet if you don't really know what path you are trying to go down.

Quote from @Sino U.:

Quote from @Aristotle Kumpis:

Hey Sino. I own a few rentals near the Memphis international airport. It's a huge FedEx hub. Not sure if my tenants work there or not. But as long as its not directly in the flight path, it will be okay.

 Thanks for replying Aristotle. When you say as long as its not directly in flight path, meaning - when plane flies over the house? :) 

Well, if the planes take off and land from east to west, buying a home that is north or south is not directly in the flight path.

Hey Sino. I own a few rentals near the Memphis international airport. It's a huge FedEx hub. Not sure if my tenants work there or not. But as long as its not directly in the flight path, it will be okay.

I'd recommend looking for a house versus a condo. Condo's usually have high HOA dues which will eat into your cash flow. And a condo can take longer to sell when you exit compared to a detached home. I think most people would agree that a single family home is better than a condo for a long term rental. You can still find good homes out there below $200K.

My best friend lives in Kingman with his mother. He tells me there is nothing out there. It's mostly retired people or people who have no money. There isn't much of an economy there. So why would you consider it? Only because it's $250K for a house?