All Forum Posts by: Derek Meyer

@Damon Lloyd that sounds like a good strategy.

My wife and I are officially under contract on a duplex (I’ve had a 4 plex before but sold it a few years back). Happy to be back in the landlord game.

The duplex has 2 vacant units and I’d like to start searching for tenants, but at what point can/should I start advertising?

My argument is that an appraisal for an investment property is easier with existing agreements with tenants paying fair market price rather than having an appraiser decide fair market price.

Wait until we’re through the inspection period? Start listing now? List when it’s officially ours?

@Ashton Karp he’s intelligent but I haven’t seen his budget. I would bet he could tuck more away in savings though. He’s pretty methodical.

Full disclosure, I’m currently under contract on a duplex and he really wants to get into the same game. I’d love to help expedite things for him but I obviously can’t do it for him.

He’s working two jobs but also has a decent amount of credit card debt built up that he’s tackling at the same time. That might be an area that he could plan out better.

@Kevin H. Do both 😎👍

Better diversification can give you better protection.

Taxes on crypto can be pretty tough.

@Steven Wilson how did you get past the 2/6 month reserve required for a multi family loan?

A friend of mine is saving up for his first downpayment. At his current rate it’s going to take about 3 years of saving in order to come up with his first downpayment. I’m curious how others came up with theirs.

My first downpayment was a gift from a family member to house-hack a 4plex on an FHA loan (3.5% down).

A friend of mine is saving up for his first downpayment. At his current rate it’s going to take about 3 years of saving in order to come up with his first downpayment. I’m curious how others came up with theirs.

My first downpayment was a gift from a family member to house-hack a 4plex on an FHA loan (3.5% down).

@Evan Polaski Thanks Evan. The average tenant staying for 4 years does handle me on the 0% occupancy point since we should be able to accumulate another down payment and chances are we’ll have a couple more properties by then.

@James Leigh well put

@Erik W. Makes sense. This is why I’m asking, I had a 4-plex in the past (which went very well) but I haven’t been in the financial position to get back in after selling it until just recently.

I’m hoping to benefit off of everyone’s experience in here and definitely appreciate the feedback.