All Forum Posts by: Brandon Duff

I just moved to frisco, Tx from Laguna beach California. 

I might have to stop by 

Welcome!

I am an out of state investor in las vegas. Welcome to BP, Glad to see more Las Vegas People.

I am also interested in this.. just sent @Kiersten Vance a message. 

The problem is

1. You wrote a novel and no one is going to take the time to read without any cliff note version

2. Most people don’t even know what you are actually talking about.. it sounds like you want to be the middle man between a buyer and a seller which is what a realtor does 

I currently live in Irvine, California and I own 6 units in Las Vegas. I hate the back and forth with a realtor and think I could find better deals and negotiate better than my current realtor.. 

With that said, I probably buy 1 property a year or so.. I’m very part time and would love to transition to doing it full time at some point but I never plan to move to Las Vegas. 

Would it be a waste to get my license out of state? 

I have 3 properties now. 

1. Single family  east side  2015

2. Single family  east side 2016

3. 4 plex ( beginning of nov 2017, north west) 

All 3 properties are cash flowing positive and great tenants.. 

I'm happy with all cashflowing properties and my tenants are great. 

@Austin Fruechting @Brie Schmidt

Great info! I'm at the 6 unit part and feel more comfortable but I still have my own job which is my security blanket.. 

My cash flow is positive on all properties and my cash reserves are empty currently since I just bought a 4 unit..

I guess my next steps are building a cash reserve, then start building a fund for purchases... 

Not using all my reserves for a purchase. 

@Justin Fox what do you consider a reasonable amount of reserves 

@Dean H. I like these rule of thumbs 

@David S.  wow what a great write up! Love it I think I can't decide on acquiring phase or platue phase. 

@Caleb Heimsoth great work man! I'm currently 31 and started buying property at 27-28 and have 6 doors now, 3 properties. 

Ground work:

Purchases: 

2015 SFH1 purchased 3/2 118k rents for 1100

2016 SFH2 purchased 3/2 122 rents for 1100

2017 (10/28/2017) closed on first multifamily (4plex) for 268k 12k in repairs expected rent per unit is 800 but looks closer to 900.  2/1 

Used 40k from refinance from SFH1 to use towards part of the Down payment for the multi family. 

SFH1 debt is 129k worth 172k 

Mortgage is 700 now

Rents for 1100

SFH2 debt is 96k and worth 160-170

Mortgage is 638

Rents for 1100

MF1 debt is 201k with 300k

Mortgage 1500

Rents for 3200-3600

My question: 

I currently own my own training company it is just me. 

At what point do you start paying off debt or stop buying properties.. like how many mortgages do you feel is easy to handle feel you won't over leverage.