All Forum Posts by: Derik Hammer

Thanks for your advice 

What factors do you consider when deciding between requiring a new tenant provide "First | Last | 1 month Security" vs. "First | 1 month Security"?

Thank you @Colleen F. and @Matt Devincenzo!

My property is not yet occupied. Therefore, I will also make sure language for cancellation when uninhabited is in my future leases.

If my property burns down, the Loss of Use line item on my insurance would cover lost rent. However, would I be obligated to provide housing (hotel) for the tenant due to being in a lease or do they just need to find somewhere else to live?

Hello everyone, thank you for reading my post!

I am brand new to Real Estate investing and I am working on building a strategy and plan for getting into my first property and beyond.

I assume (please correct me, if wrong) that choosing a target demographic will be an input into choosing the location types which is an input into deal analysis. My big question, for today, is... "How do I choose what the best demographics are for my first investment?"

My goals:

- Optimized for cash flow. I am looking to build monthly recurring profit to become financially free.

- Minimize my personal effort. I may be interested in using a property management organization.

- I am going to focus on Multi-family (2-4 unit) as my first investment and I am considering house hacking. I am not interested in short-term rentals.

- I am open to being creative (i.e. College students, etc.)

Thanks again!

Derik

Hey, everyone.

My name is Derik and I am excited to begin my real estate investment journey. Presently, I have zero properties and am in my research and business plan generation phase.

If anyone else has a business plan that they use to strategize across their investments and methodologies for growth, I'd love to see a sample as I build out mine.

Thanks!