All Forum Posts by: David K.

First and foremost. You can't VA a rental. So refi-ing out of the VA needs to be planned for. Especially if you took a minimum down payment to get going. You'll need the equity or appraisal to 80/20 70/30 the new mortgage. Obviously , the more equity you have the more you'll net. Honestly, I've not found that sweet spot yet, on how much cash to keep locked up as equity.

If you're junior enlisted, or a junior NCO, this is absolutely the right path. Just make sure you hire a real PM to manage, you do not want any conflict of interests with the next tenant. No self managing.

Your fear is quite legit. If you've never managed before you need a property manager, or at least one to do tenant placement.

All four renting for what you say, those numbers look great. Any one unit goes vacant, and your great has turned to, okay/good, two are vacant and you're out of pocket.

Making something cash flow isn't just about the numbers. Good luck.

@Quentin Davie solid data man, awesome! I'm following a specific builder, been getting great rents out of new builds for a couple of years, but your data is excellent!

Cartersville, closing on new build this week. I've got a lock box ready to go!

The self managed versus PM debate is really one of personal preference. I can give you all the pro-PM anti-Self Managed stuff you want, just like plenty of people can do the opposite.

It really comes down to the type of investor you want to be. Being next door will be hard to conceal, and at the same time easier to manage. You can always hire a good PM to place the tenant for you, and then you manage. That will help you with your screening tenants issue.

The most hands off answer is the PM, the question becomes how much you care to be interrupted. The wrong tenant will stop you in the driveway, come outside when you're playing with your kids or sitting by the firepit, and will call you day or night.

The right tenant, you'll never know is there.

The most absolute answer is the PM, and you learning to say "I understand, but you need to call 'David'". You may not advertise that you're the owner, but that's public information, and if your PM will lie if asked about you, how long until he/she lies TO you.

The best advice is to pick what at the end of the day you're the most comfortable with. Give it a timeline, like a year, and then re-evaluate. It sounds like you're PM heavy now, so hire one to place a tenant and manage. If after a year, it doesn't seem worth it, move to a placement only contract. The vice is also possible, start with placement only, and you can always hire to full time if needed.

Good luck!

6 of the homes I manage (soon to be 7) are all from the same builder (different neighborhoods) out that way. They make pretty awesome 3 and 4 BR houses that make great rentals. Neighborhood has amenities and the HOA is rental friendly.

If you'd like to chat offline, I happy to help.

I have one I'm trying out. What part of the city are you?

That's the rub. Your rent really shouldn't be based on your needs, but the market. Usually I think about half between market and current to keep them to stay, maybe 3/4, it really depends on the jump. Assuming we're not looking as a major rehab, which I wouldn't be.

Raising rent is market driven. If it's needs driven, the owner has other problems that need dealt with.

Okay, you need a reserve study, and to be managed by a professional. Although not my lane specifically, I couldn't even make it through your post. If you're north of I-20, shoot me a PM, we manage HOA's in Alpharetta and the surrounding. PM if you need.

Where in ATL, I have one way way up north.