All Forum Posts by: Ben Baye

@Jaysen Medhurst, Thank you for the response. That is my primary concern. The amount of management I would still need done in my absence. The numbers, at least my preliminaries, work with management but obviously would be better if I self-managed. I do have a local contractor I’ve worked with a lot that has crews enough to take care of those needs but managing from a distance has its limitations even with a couple people in play. 

@Jay Hinrichs, I appreciate the advice. The homes would be class A in class A neighborhood. Just sold a spec there and seems to be a community of upper middle class, not really white collar. Great school and very family friendly town. I like the idea of tenants with over a 700 fico. Would there be any other parameters you would require? Also who else would you want on speed dial if you were to manage from a distance?

Thank you again. 

I am new to the rental portion of RE investing and am analyzing the following deal. This is a basic overview as the numbers aren’t important to my question.  6 New construction single family rentals. 2 bed 2 baths renting at approximately $950. 

I am considering managing them myself to keep my cash flow up. However my family and I are planning to move shortly after the build out of the lots. If I was staying it would be a mute question but with the move would it be advantageous to do my own management or is this an aweful idea being that I am new to property management?  Any advise on how to manage from a distance, from those thinking it may be a viable option would be appreciated.

Thank you

I am looking to start acquiring rentals but am using my capital which isn’t excessive at this point to do specs and fix/flips for income. I have came across some properties I believe would cash flow but don’t have the 20% to put down. I know there are other options outside of conventional lending but am a bit intimidated by them as they are relatively foreign to me. I’ve had many conventional loans and am not necessarily fearful of risk but the unknown of investors, partnerships or special financing is uncharted terrain. Need to make time for networking to meet more people who’ve used other options successfully. 

Hey, 

Look into resale possibilities as an exit strategy, if it’s an easy sell in your area then you can get out if you don’t secure a renter. Then set a realistic timeline to have the house rented that you can afford taking into consideration avg DOM of houses selling and your ability to pay the bills if it remains vacant. If it’s not rented in that timeframe put it on the market. 

I’m new to rental but have bought, built, fixed up and sold a number of properties over the years and knowing the house is marketable at a profit reduces the stress of the unknown.