All Forum Posts by: Bjorik Mutize

 You are going to find many situations on where claimed numbers are not how they truly are is once you start peeling back the cover of economic and physical occupancy current standings. When you run income on fully rented that's best case scenario, before turning units, bad apples leaving etc. Compare what you are finding to market and comp standards on all of your underwriting.

Property currently not being profitable and bad PM, it could be both with the information given in the post. Nonetheless, explore what the owner was doing wrong and where expenses fell through.

Hopefully if you or whoever decides to proceed you can shop for better PM.

I have not put together a syndication yet, but am also learning the correct way to find investors in my immediate circle.

You are looking at assets that provide great returns. You are sharing to those that, down the line, may find interest in attaining some of said returns vs. what returns they are getting in their traditional investments in the event you find a good deal.

I am doing the same thing with my family as they learn my intentions to grow my business. Multiple conversations keeping them in the loop of what i am doing. I feel like it is easier with family than others further out of my network to share my goals.

What are your marketing strategies? I've read a lot of sweat going into reaching out to sellers by direct mail and owner list strategies. Driving properties with distressed/add value opportunities and finding then reaching out to the sellers.

Another way comes down to reaching out to as many Brokers in your area as you can and explicitly telling them the criteria you are looking for. Perhaps not much off market opportunities until a good relationship is built but worth a shot.

Also if you are real serious about getting started don't be afraid to reach out of your market to find what you are looking for.

John Maxwell-How successful people think

Richard Branson-Screw Business as usual

Hey Bradley!

After all of your renovations when do you expect to see your ROI? Check compliance laws to see if the basement extension is feasible.

3 bed-the one you are occupying $2100 potential rental income assuming you have all rooms rented, what are your expenses? What are you coming out with after your debt service?

House hacking is a great start nonetheless by reducing your living expenses, just want to make sure you tee yourself off without extra hassles! Remember assumptions are there assuming everything goes right.

This is awesome. Congrats and thank you for sharing. Learning a lot on what is needed!

How much are you planning on putting in per unit to achieve your rent premiums?

Like above screen tenants and screen heavy, set expectations quickly and clean on communication and anything within the lease agreements.

Location of course, pick somewhere business wise of potential growth/sustainable economics so when you move out you can easily lease out not only your unit but the other during turnover. Safe area for you and your family while living in it. Don't focus on areas just for the pure reason that it's cheap. Spend some time studying everything about the market you want to buy in. I know your goal is to eventually have this as a full blown rental so make sure you are able to get rental premiums to cash flow for years after.

Other considerations is that you need to make sure you learn your landlord-tenant laws asap. Again, you are living very close to your customers so try and set expectations clear from the beginning.

What part of Texas are you looking in?

I've originally been looking at primarily markets in the Midwest where i am locally, however i am now looking into central south, south eastern regions just because of more buying power and market growth.

Not to say there are not strong markets in the Midwest.

@Lena S. I’m assuming state dependent on the specifics on the have to’s or not. I have It in my lease agreements where I would cover tenant accommodation in case of emergency.

@Elenis Camargo thanks for sharing. I admire the humble approach, even though a beginner like myself, I definitely respect and consider 3 OOS properties in one year moving fast!

Will definitely take key notes from your story!