All Forum Posts by: Dustan Marshall

while it may not be the ideal unit.  2 bedroom houses may still be desirable.  Just depends on your market as mentioned above.  Make offers with the numbers that will reflect a potential for higher vacancy % for such things.  

good advice above.  Don't just use projections or pro forma #.  Use verified # that were reported over the last year or two which can be found on tax filings for each property.  This will also tell you info about whether or not the current owner has been keeping up with maintenance

great question.  Seems to be the arguement of, if you are New how can you evaluate whether a PM is any good or not vs if your new how will you know what to do and how to avoid mistakes.  For me, I managed my own stuff at the beginning, and still do, to learn about all aspects of the business and I believe this has made me a better investor Will allow me to later seek out the best PM when I am ready to step back.  And honestly if you follow principles outlined in places like "landlording on autopilot" you can manage a sizable portfolio once you get going

i would assume that with such an aggressive purchasing plan that you intend to use the BRRRR method that is popular on here. One issue that you may run into is the refinance of small multis. Because they are not as popular as SFR and not necessarily based off rents in appraisal that it can be hard to find comps. So I think the appraisals may be hit or miss.

there was a great podcast on here, I forget the #, but his company bought and sold notes to investors.  Not sure how the pricing compared to others (if they are good deals or not). 

For me personally, I would try to remain as liquid as possible.  I would do this for 2 reasons: 1- should something bad happen (extended vacancy, inability to refinance or job loss...etc) you can cover those expenses.  2- if no major expenses occur you can use those funds (once market bottoms out) to buy at extremely great prices!!!

great topic and I will be following it.  I find it hard to believe that the OP search has gone larger unresolved in that few if any have admitted to a debt free rental porfolio.  My experience was buying rentals using leverage and having no personal debt.   After a few deals I tried to buy a rental all cash and the emotional different was certainly worth something.  I am not sure if I will ever go completely debt free but it is nice to have a portion of my portfolio debt free that should things go wrong they have a heavy hand in balancing the debt out.   I am still fairly young and the time element has a big impact on my views

it may be difficult to get financing to purchase a non owner occupy.  But in my experience it can be easier to refiance a non owner occupy once it is preforming if you have real estate experience because it becomes less about you and your w2 and more about the asset and it's performance.  So if you have real estate experience, you may consider purchasing all cash and after some seasoning refinance to pull the equity out and repeat.  You can always ask lenders about this more to see what they are willing to do

hello fellow buckeye. i am between cincy and dayton and have been doing rentals for the past few years. If i could recommend anything, especially because you have the initial funds to get into serious trouble, it would be to very clearly define what it you want to do with the money that way you are focused on what you will look for and would spend the money on that way you won't allow yourself to make a rash decision. do you want to buy and hold, buy hold then sell (slow flip), flip. Do you want to do SFR, small multi, large multi.

I actually do the same thing.  I listen to bigger pockets and other investment radio at the gym each morning.  I recommend it to everyone...  Don't think it's quite the pump up music others are used to