All Forum Posts by: Brian W.

Fantastic advice Scott. Thanks a lot.

Thanks for the replies guys.

To further clarify my question, I'm looking for the average, say, over the course of a few years (so that we capture some of the repairs, vacancies, move-ins, etc.) - including taking calls from tenants.

Considering all things related to landlording, how much time do you spend per month per property?

If you own multiple properties, please disregard economies of scale and try to estimate how much time you would spend on everything related to owning and landlording a single property.

Good question Arjun K..

The reason I'm looking for financing rather than just buy with cash is because buying with cash would take so much of my cash for the first house that it would be a couple of years before I could buy another for cash and I don't want to miss out on all the good deals to be had now.

However, I could get one property now, then another in six months, then another six months after that. Going this route will allow my cash reserves to never dip below a certain threshold that I've deemed safe.

Thanks for your reply and thanks for reading and understanding what I wrote. You are right on with how you interpreted what I'm trying to accomplish. Thanks for taking the time to read and understand rather than simply skim over what I wrote and give a quick response. I appreciate it.

Thanks a lot for everyone's thoughts.

Here's why I'm considering a 10-year over a 30-year:

1. I have plenty of cash to cover any costs that might come up that the rent won't cover.

2. Carry costs on a 10-year are lower than on a 30-year.

3. I'm trying to get as much cashflow as possible over the next 13 years as that is when I'm planning to retire. So, I'll want all the properties paid off by then.

Any thoughts on this are very welcomed. Again, thanks for everyone's feedback. I really appreciate it.

Thanks a lot for you guys' reply. I really appreciate each and every one.

Thanks a lot for your reply Ned.

I should have worded that a little more clearly. I already own a home. I'm ready to buy my first investment property.

I am looking for my first deal on a single-family home to rent out and personally manage. I am planning on putting 30% down on a home around $100,000 - $110,000 with a 10-year mortgage that I can rent out for about $1100 per month. I am realistically estimating $5,000 in get-ready costs. My PITI should be around $900 - $1000 per month, thus leaving me with a positive gross cashflow of $100 per month.

I have a few questions regarding my plan:

1. Will I be able to get a home with this plan or will I be completely locked out by cash buyers and large consortiums?

2. How do my numbers look? Is this a doable deal if I can make it happen?

3. Any other thoughts are very welcomed.

Thank you!

Hello BiggerPockets community. This is an incredible site. This is my first post here.

A quick history about me: I've been studying and researching investing in real estate for years and years. I am now ready to buy my first home. My goal is to buy 3 - 4 single family homes over the next 3 years that I will rent and manage myself.

With that said, now that I'm ready to buy, I'm getting this anxious feeling of being rushed. I am feeling like this because I'm being told that the real estate market is starting to heat back up. I'm being told this is a seller's market especially since we're moving into March and April - supposedly the hottest seller's market of the year.

I'm wondering if I should hurry to get something now before prices continue to rise, or if I should wait until this summer or fall when prices might come back down from the seller's market. I'm also wondering even if prices do come back down from the spring seller's market, if those new, lower prices will still be higher than they are today. In short, I'm feeling rushed like if I don't buy something soon, I'll miss out on all the deals.

I am aware that when emotion is high, logic is low so I need help calming down so that I move forward relaxed and operating on logic and numbers rather than anxiety.

Hello BiggerPockets community,

I am very excited to have found this website and community. After countless hours of research online trying to find easy-to-understand information on how to do what I'm looking to do, I thankfully stumbled across BiggerPockets. WOW! What a fantastic resource! This is EXACTLY what I've been looking for!

I have studied and researched investing in real estate for many years and I am finally ready to begin actually buying houses. I'm looking to rent out single family houses and manage them myself. My goal is to buy 3 - 4 houses in the next 3 years to help me retire when I reach 47 years old.

Thanks to everyone who posts and keeps this forum vibrant and growing.

Brian