All Forum Posts by: Braeden Cobb

Quote from @Daniel Stoychev:

@Braeden Cobb

Lot of good questions here. There are many different ways it can be answered and a lot of advice can be given. 

In the beginning I would focus on your surrounding areas 30 minutes to an hour away. If you plan on managing it yourself, you want to be close to monitor any improvements and get familiar and comfortable with the entire process. Be as involved as possible. That will give you the confidence for your next projects afterwards. 

Look at 2-4 units, those are a great start. Look into house hacking, BRRR method. Those are great concepts for multifamily investing.

Find out about investment meetups and groups in your local area, and find out if there are any players that bring in partners. It seems you have management experience so that certainly adds value to a partnership. 

Awesome, thank you for the advice. I would like to house hack, the only problem I have run into is cost of property where I am located/could end up for work (Scottsdale & California).

Quote from @Robin Simon:

What kind of unit count range are you looking at

 2-4 units 

Hello! I uploaded a different post on multifamily, but this one relate to house hacking. Has anyone had experience in house hacking a 3-4 plex and using different rental strategies on each? For example, living in one, mid term renting one, and short term renting the other? Curious to hear some stories how that has worked out.

Thank you!

Hello! I am looking to buy a multifamily home in the next year or so and wanted to hear some thoughts on a few things. 

How well do small value add projects benefit the investment outcome in your experiences?

What cities do you see have a fair entry point that cash flows not in a crime filled area?

Does anyone have experience getting into partnerships on multifamily investment. Not opposed to bringing a partner in on a deal. I have a couple years of experience in managing 40ish short term rentals remotely & on-site, so I believe I could use a management incentive to lower my buy in.

Thank you!

Hello all! I wanted to get a post out in regards to some opportunities for real estate investments. I love how Gatsby Investments is doing business, but am not an accredited investor. Does anyone know of any other sites with anywhere near the returns they get and transparency they show? Also would be open to hearing from anyone looking for partners for a fix and flip opportunity with a successful track record. Thank you!

Hey Derek, I am currently managing a portfolio of STR from apartments, to condos, to townhomes, to sfh properties. I believe a lot of of this discussion around STRs "dying" is from not only saturation, but also just a simple leveling out. There was such a surge after covid that STRs were essentially the best investment you could make since the demand was so high and the supply just simply wasn't available at the time. When looking to purchase a property, I believe planning to pivot at any given time is important. Your str license could be swiped any year, and other strategies may need to come into play. If it makes sense as a long term rental, a lot of time it will make sense as a short term rental. STR takes time and you can only automate so much, while ltrs can be basically completely hands off with the right tenants. Where you buy is also obviously important too. Right now cities like Scottsdale and Seattle are so expensive that with the combination of high interest rates, it could take a little longer to make the numbers pencil out. Hope that helps.

I have seen 90% due for tenant placement and 20% due at renewal so this seems accurate to me. 

Best of luck Noah!

Quote from @Ian Dikhtiar:

I am using Notion and self-built system for this. It's free (or relatively inexpensive), and it allows me not only to build the tools I want, but also to connect it with so many different applications if I need to.

Here are the databases that I use and things that I track:

🌑 Real Estate

My Properties

Leases

Tenant Applicants

🌑 Financials

Transactions

Recurring Transactions

Accounts

Taxes

🌑 Administrative

Contacts

Insurance

Documents

🌑 Planning

All Tasks

Projects


What is your biggest problem with your current ways of tracking info?

Awesome! Good for you. I would say the biggest problem I have run into is not so much functionality or business process. But organization can be a struggle from time to time. Right now everything is organized in a more inefficient way and not set up for scale. Thanks for the response!

What have you found to be a successful way to onboard your home, track inventory, and keep all your property specific information in? With so many people using different strategies, software's, and technology I am curious to hear what you have found to work. 

P.S: This is not necessarily a pms system question, but an overall organization and property information question.