All Forum Posts by: Ankit Gupta
Ankit Gupta has started 5 posts and replied 11 times.
Hello,
Is it possible to get the 1% rule or higher for single family home rentals? Additionally, is it possible to score single family properties that bring in rents $6000 and higher? Or do you have to resort to multi family deals at that point?
Ankit
Post: Property Manager references for Cleveland Market
- Posts 11
- Votes 7
Hello,
Do folks have any references for great property managers in the Cleveland market?
Ankit Gupta
Post: Feasibility of generating significant passive income with LTR
- Posts 11
- Votes 7
Quote from @Mitch Messer:
Quote from @Ankit Gupta:
@Mitch Messer do you recommend connecting with any realtors in the Tulsa area?
Post: Feasibility of generating significant passive income with LTR
- Posts 11
- Votes 7
Quote from @Erin Church:
Quote from @Mitch Messer:
Quote from @Ankit Gupta:
Shhhhh... don't tell 'em about Augusta ;-)
I've got to say I'm also having mixed feelings about how much more properties are costing compared to a year ago. I mean, whoo hoo for equity on the ones I bought, but I also am helping investors (and myself) continue to purchase in the area and it was lovely when it took less cash. :)
Hi Erin - do you recommend connecting with any realtors for multi - family units in Augusta?
Post: Advice on buying multi-family units remotely
- Posts 11
- Votes 7
Hello,
I'm trying to find the right multi family property remotely. Besides ensuring the property meets the 1% rule, generates good cashflow, decent neighborhood, what are other questions I should be asking the realtor/owner remotely to ensure the multi family property is a good deal for me?
Thanks in advance!
Post: Best markets for multi family
- Posts 11
- Votes 7
Hello,
What are best markets for buying a multi family? Below is my criteria:
Turnkey
1% rule
4 or more unit multi family
B class neighborhood
Budget $700K
My sense is that small cities would be best for this criteria. But I’m finding it tough to find anything in markets such as Columbus, OH Cleveland OH. Any other markets I should be looking at?
Thanks!
Ankit
Post: Feasibility of generating significant passive income with LTR
- Posts 11
- Votes 7
Quote from @Ankit Gupta:
Hello @Mitch Messer - It's possible to $400/mo cashflow in this high interest market? Which markets would you recommend for these? I was primarily looking at Columbus and Atlanta
Yep, it sure is!
Look for areas where you can still purchase a 3-bedroom home (pre-rehab) for under $100K AND where rents for a 3-BR are running at $1200+ and climbing.
I also recommend you avoid states that make it super-hard to evict, such as New York and California.
Right now my favorite target market is Tulsa, Oklahoma, but I'm also quickly falling in love with Augusta, Georgia!
Mitch - are you seeing appreciation in Tulsa and Augusta markets?
Post: Feasibility of generating significant passive income with LTR
- Posts 11
- Votes 7
@Erin Azar with the $100 - $400 /month profit deals are you doing 15 yr or 30 yr mortgages? When you say your numbers have worked far better, does that mean you were able to increase your rents easily or you saw appreciation for your properties? Curious as to which markets you are looking at
Post: Feasibility of generating significant passive income with LTR
- Posts 11
- Votes 7
Thanks all for the advice. This is super helpful!
Post: Feasibility of generating significant passive income with LTR
- Posts 11
- Votes 7
Hello @Mitch Messer - It's possible to $400/mo cashflow in this high interest market? Which markets would you recommend for these? I was primarily looking at Columbus and Atlanta