All Forum Posts by: Cedric Volkmer

@Rui Zhang

Do you still have the 14 unit property in Chillicothe?

How has your experience been?

I agree with that your analysis must be very precise on the numbers and build in a buffer, meaning what could be the worst that could happen.  You don't mention how many units are in the property, but lets say 50% of the tenants move out or stop paying rent.  How bad would that be?  Do you have enough reserves to keep the property, even if it isn't performing the way you initially calculated due to these uncertain times?  Maybe try to find a local investing group you can start going to and you will have many people who can help you analyzing the property and giving you feedback. 

The episode with Thach Nguyen was great and a lot of helpful tips from his experience.  Who has followed his method of paying off a specific amount of houses to have a more stable monthly income of them and then started to increase units/houses?  

If you have done so, do you regret looking back wishing you had leveraged more and bought more houses quicker to increase total units?

I liked his idea of setting a monthly income number you want to get to and buy as many houses needed quickly and then pay them off before growing any further.

What are your thoughts? 

Great question and I am glad you asked, because I am a new investor and have been thinking about the same.  For now I will add single family homes and duplexes, going forward looking into buying larger properties. 

 Thank you for your feedback!  I agree with you, looking into further growing the portfolio with more buy and hold properties. 

Thank you @Jonathan Greene!  The real time access, scheduling my own showings, as well as getting closer to the seller are good reasons to look into it more.  Thanks for your feedback!

I am just wondering what your opinion is on getting your real estate license as a REI. I am working very closely with my realtor, but sometimes wonder if it would be easier to schedule my own showings as soon as properties come up.

What costs will all be associated of being a realtor and being with a brokerage?  What do you see as the pro and cons? 

Excited to hear what you think!

I am using Cozy (Apartments.com) and like it so far.  It is not that user friendly for property managers, but you will get a hang of it quickly.  It sometimes requires specific internet browsers (Firefox, not Safari) and the phone app isn't as clean either. Wish they would create an app just for the landlords to manage everything through.  But it is easy to get everything signed on it and advertise your properties when they come available again. 

For refinancing, aren't you taking on a loan with a predetermined time and interest rate?  Use that loan to calculate against your new rental.  Maybe I am not understanding your question correctly. 

@Austin Sluder

It’s good, investing mainly in Peoria county.