All Forum Posts by: Chris Ono

@Brad Simmons - Thanks for sharing that article!

Partners! That's how we were able to get into our first duplex right after purchasing a SFH. That said, second mortgages were more common back then and we ended up going in with a partners and a 75/15/10.

Thanks, everyone. Happy Investing!

Hi BP,

Joined a month or so ago, but never really posted an intro. We're from Austin, TX. 

Got started in REI back in 2007. Our first investment property was a SFH in Round Rock, a suburb of Austin. The property was an investment property that cashflowed on a rental income vs. PITI perspective, but not by the rental property calculator standards. Thankfully, it does now.

Our second property was a Duplex in 78729 with 2 other partners which we sold so our partners were able to exit. Our portions were 1031 exchanged into a smaller SFH in 78758.

We're preparing ourselves to enter the multi-family (5+ unit) market next.

Hoping to bring some value as we've already learned a lot from here.

-Chris

Ditto. I like to see how much I can get back vs. how much I invest. This way you're measuring how hard your money is working. Of course other metrics are important, but cash on cash return is a key indicator for me.

Sure you can. Just think as if you're renting to yourself. And you'll get 20% LTV for owner occupied vs 30% on investment properties.

Congratulations! Here's to many many more!

Hard money financing and also a rehad loan might be an option. Post rehab you can look to implement the BRRRR strategy.

In the latest podcast they talked about high interest rate in hard money, but if you can rehab it quickly the high interest rate is less detrimental. I took that as an aha moment.

I'd personally take the cash flow, but it really depends on your goal(s). In my personal situation, my goal is to have enough passive income to cover all my monthly liabilities. Some may have gotten there already and if so it would make more sense to take less cash monthly and go put it towards another asset quicker.

If you have the numbers figured out, it should make it a lot easier to ask for money. It shows you're committed and have done the research vs. just asking for money for something you've been thinking of doing.