All Forum Posts by: Denny Robert

I also bought a triplex FHA 4.5 years ago. I am just about to do a refi to conventional, and pull out enough money to do it again. We are also about to do our refi on a BRRRR four plex. My wife and I are planning to get at least four cash flowing multifamily buildings before we hop into a single family. Right now between our fourplex and triplex we take in $1300/mo (plus free rent in a 3/2 unit) after expenses, before maintenance and repairs. I echo what others have said: this is an excellent path to financial freedom.

You could learn a lot by being an unlicensed assistant just by asking questions and osmosis. The leasing agent idea is good too.

@Ram Wagle since you are in cashflow country I wouldn't look out of state. I would recommend figuring out what areas you want to know inside and out.

You might still want to use a property management company after you get a couple properties under your belt so you can focus on your day job.

I would be curious to hear about other's experiences in that area as well.

@Devin Haertling are your single families in Nashville?

It's right on the money for the location and condition in Phoenix. Definitely no smoking deal, but when those come in Phoenix they sell fast.

I purchased Quickbooks Pro for my wife and I to use for our 3 businesses. We need a good resource to learn how to set it up and use it. Do you have any online courses you recommend?

Use private money to buy and rehab the property, then refi into the portfolio loan at the better long term rates.

Robert Wollert anything is possible, but it's fairly unlikely you'll get a loan on this property without a down payment or a partner who has one. Another thing to consider: if this property is on LoopNet for all investors to see why hasn't it sold yet? The owner might be willing to consider seller financing, it can't hurt to ask, but they will most likely want some kind of down payment or lease option payment. If you want to do a low or no money down property get Brandon's book and start implementing his strategies. Have you looked at doing a single family and house hacking with friends renting rooms? You could FHA with down payment assistance into a 4 or 5 bedroom house and rent out all the rooms. That would be a cheap way to start. You can find fixer upper houses in Tempe for under the FHA loan limits.

@Braiden Kurowski welcome to BP! I'm an investor and agent out here in Phoenix as well. BP is awesome! I bought an FHA financed owner occupied triplex 4 years ago and the renters keep making my mortgage payment for me. What a great concept! : )

Typically 6-10%. On a rent this low I would lean towards 10%. You could also call around to some property managers and ask.