All Forum Posts by: Chris Davidson

@Ali Chauhan Real Estate is a broad topic. If you want to learn sales find an agent and see how you can help. If you want to learn the property management side find a PM. If you want to learn rehab find a contractor. If you want to learn investing find investors. All of these could be side hustles to help move you towards the house hack.

Finally, keep it professional/business sometimes it can be difficult when mixing investing with friends especially at a young age. 

Hope that helps!

@Carlos Juarbe it can be that simple. If you plan on making it into a business and not just a side gig I would treat it like a business. LLC's cost money, but if you are planning on going that route the sooner you start it the more history it will have.

Personally, I have never used Zillow's rental manager. But check out a few of the other's cozy, TenantCloud, and RentRedi. 

I think the separating of accounts is smart even if just planning to keep it small will help when tax time comes.

Best of luck way to get started!

@Marc Estepa Contact the city/ county that it is located in and ask them what permits are required. Talk to a GC in the area they will be able to help you with the cost and path forward. If you are using an agent get their help. ADU's are really area-specific as each town has different regulations.

Best of luck!

@Mark McCollum I feel your pain it is a tight market. But I am going to go against the grain in the thread. Your first deal does cash flow year one. Yeah, the ROI is low but you also aren't looking at any equity gains there, your depreciation you capture to reduce your overall tax bill. If you weren't setting aside 20% for your management and repairs I would be worried, but with that plus some cash flow you should be fine.

The next deal in a town you prefer if I followed correctly is Bozeman where you would manage. So add 200/ month back in and you cashflow year one. later down the road after rents have increased you should cash flow with management. And keeping back 10% on a condo might be on the high end depending on what the HOA covers.

I started out the same way looking for the unicorn that would cash flow in the worst conditions, and it kept me out of the game longer. I think when you look at the numbers for you on your deal things will make more sense. 

Best of luck Mate!

@Farrah H. I would sell and move more towards MF, with the direction towards learning more about multi deals and how that would help with the future goals of apartment syndication.

Either way sounds like you are going to do well. Best of luck!

@Craig Parsons man sorry you had that experience. I feel like a lot of investors do starting out. I had a similar one to Flake#2 on my first investment. However I would encourage you to seek out a few realtors in the area you are wanting to invest in and talk to them and see if any like working with investors, and give them your game plan/ business plan that way they know you are serious and going to buy houses. The more specific you are about what you are doing the more motivated you sound. 

Hope that helps

@Travis Richey welcome to the valley! There are some good meet up groups around.

SFR amd MFR are hard to pass up with the vacancy rates.

@Evan C. thanks for the update. Best of luck on finding the next deal!

@Chad Oustalet I do not have the Bill# but @Corby Goade linked the Landlord and Tenant laws from the AG's website above.

Hope that helps!

@Evan C. got an update on how it turned out yet?