All Forum Posts by: Blake Armstrong

Hi all, since I've had so much issues trying to find cash flowing long term rentals, I pivoted toward mid term rentals and I've got quite a lot of questions for people that are doing them now...

Is it possible to self manage a property 2 hours away from where I live? I pass through the town I'm looking in quite often for my 9-5 job, but again it is 2 hours away. What kind of team do I have to build in order to self manage something like this? 

What kind of checklists do experienced MTR investors use to furnish/stock a new property? Are there any free/inexpensive ones out there so I don't have to pay for a $2,000 course?

Is anyone using a PM software to self manage? If so, what would you recommend for MTR?

Is there a big difference in lease agreements for LTR vs. MTR? How is everyone structuring theirs if it is different?

I have tons more questions, but these are the main ones. Thanks in advance for your advice/input.

I should also point out that I'm estimating a 4% toward closing costs too.

Hi guys, I've been trying to look for cash flow deals in DFW around $100K to $300K range, with a 2/2 or 3/2 turnkey. I've been running my numbers at a 6.99% rate, with 20% down, and 10% across the board for vacancy, capex, and maintenance. I've been using Redfin's estimate for property taxes and insurance, but have really found nothing that even comes close to breaking even. I've been reading that a lot of newbies are having the same kinds of issues, but I'll even run my rental income with the 1% rule just to see and I'm still in the red quite a bit. 

Am I overestimating an expense here? Is this just the norm right now? Any advice to point out if I'm doing something wrong or pivot to something else would be appreciated. 

Thank you, Sherry! So, the next one is September 22? I would love to attend.

Great, thank you!

Hello! I am a completely new investor with 0 real estate experience living near Dallas, TX. I am currently looking for buy and hold properties to supplement my current 1099 income, so cash flow is important. I'm 26 years old who is green between the ears, but very eager to gain knowledge however I can and from whoever I can. I'm looking for a local REIA and a mentor to help me get started.

Any thoughts, suggestions or questions are greatly appreciated!