All Forum Posts by: Brian Ellwood

Hi Dasia! I'm originally from nashville and have done a lot of investing there. I don't think there are many properties there that make sense as a rental from a price perspective right now, unless you're seeing something I'm not?

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Hi Jamila! Whether you rent or buy your personal won't affect your overall financial picture a huge amount, at least not over the next 5 years or so. Maybe wait and see what the market does. Your bigger play is in growing your side business and growing your rental portfolio, so I'd focus on those two things.

As far as market selection, that's a key piece to your success when it comes to buying rentals. Many markets do not work as rental markets right now. I suggest looking at what they call "linear" markets that don't rise or fall too much - there's a lot less competition there and prices still make sense for positive cashflow.

DM me if you want more help, good luck!

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Welcome! What do you feel is the biggest thing you need right now to hit your goals?

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Originally posted by @Hadar Orkibi:

@Brian Ellwood it really depend on the location in Little Rock, what are you offering and at what price.

My latest deal is 45 units and we are at 2% vacancy. but we renovated the units and offer them at reasonable price. offer great value to the residents.

Wow that's awesome, and thank you for the help!

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Originally posted by @Jean Marx:

I can't speak for Little Rock overall but we do own a few properties in Little Rock Metro. They are both associated with solid schools and we do allow pets in one of the properties. The first one in Cabot has been a rental since 2011. It's never been vacant and we've only had two tenants in it the entire time. The other was a recent BRRRR in NLR that we put on the market for rent at the beginning of COVID. It rented at the price point we wanted which was a little high for the area but the property is also more updated than most. It was posted on a Friday with tenants selected for background checks by Monday.

That's good to know, thank you! I'll make sure to have a better product than what's on the market to avoid vacancies :)

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Looking to buy some single family rentals in LR. I see the vacancy rate is 11% according to this website:

https://www.deptofnumbers.com/...

Wondering if this is accurate and if any investor out there can shed some light on how it is to own rentals there?

I'm guessing that the bulk of the vacancies are due to poorly managed properties?

Thanks!

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Originally posted by @Joseph Rios:

@Brian Ellwood it took me sometime to realize this but yes the best deals are not found on the MLS. My focus now is off market properties only. I currently have a 3 family building that I bought from the MLS at retail price but fortunately it has appreciated a lot since I bought it back in 2018. What is your best source for finding Off Market properties? There's a lot of investors in my area and with the market being this hot (I'm in NJ) it's hard to come across a good deal nowadays.

Wholesalers, property managers, and direct mail (done the right way!)

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Originally posted by @Mason Aulsbrook:

@Brian Ellwood I’m just getting started and cannot do anything in this market. How can I buy off market?

What market are you in? You may need to pick a new one before anything else.

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Originally posted by @Wren Lemmon:

@Brian Ellwood any tips on strategically identifying off market listings? I’m in the Southwest Louisiana region and while most forums are geared toward our large metro areas, I’m trying to gain knowledge to overcome fear of a first deal crashing and burning. Any insight is appreciated.

Hey Wren! It starts with picking a good market, then setting up campaigns to find deals, (I use direct mail) but then the price you buy it at and your due diligence process is hugely important (to make sure you estimate repairs correctly) and then the final "risky" piece is the rehab/managing the contractor.

But, as Kiyosaki says, it's risker to NOT invest than it is to take a calculated risk that is likely to catapult your financial picture :)

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Originally posted by @Robert MacNeal:

Hey @Brian Ellwood, we have the same issue here in Portland, ME. Every property here I’ve analyzed using the BP calcs is significantly cash flow negative. Do you have any suggestions of how to get started in the non-listed property market for a newbie?

Rob

Very first step is to pick a new market with cheaper properties

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All Forum Posts by: Brian Ellwood

Brian Ellwood has started 15 posts and replied 187 times.

Post: Complete Newbie. Looking to purchase MFH in Nashville.

Post: 23 YO with 43K, Do I Rent or Buy?

Post: New member from West Coast

Post: Little Rock Investors - Are Vacancy Rates A Concern?

Post: Little Rock Investors - Are Vacancy Rates A Concern?

Post: Little Rock Investors - Are Vacancy Rates A Concern?

Post: Why are people buying at these prices?

Post: Why are people buying at these prices?

Post: Why are people buying at these prices?

Post: Why are people buying at these prices?