All Forum Posts by: George Lods

All great advice and thanks everyone for replying! 

@Thomas S. You are right. As I have been doing my research and saving my capital my plan has shifted. We plan on trying to make our first purchase a multi family hopefully near the 16 unit mark! Thanks for the reply!

@BentonHall Hey man its great to see a prospected investor on here from Hattiesburg! I grew up in Poplarville jst south of Hburg. I'm currently working in California and plan to relocate back to Hattiesburg in four years and will have the capital needed at that time to invest in either multiple sfh or a nice multi unit complex. I too watch the internet back in that area just incase I see anything that jumps out at me. I see a lot deals on the east side but not sure thats where I want to invest. Lets stay in touch and maybe we can work together in the future!

@Janet Voss thats cool, we are criss crossing each other. I am currently in the Sacramento area for work. Probably be here 3 more years before I head back to the Gulf Coast area. 

@Janet Vossundefined

Hi Jay and welcome. Im doing the same as you, learning and getting ready to get my feet wet! I like what your doing Susan! Good strategy!

Thanks for the feedback guys! I can't remember if he said that the mfh was worth 9 million and they got if for 7 or its worth 7 and they got it for 5, but 7 is sticking in my head. None the less they got a good deal on it. I used a low ball rent number like 750 per unit x 250 units. Minus a 7 million mortgage over 30 yrs, minus 50% rents for all expenses minus 10k per month for boots on the ground maintenance guys. Unless I've just got it all wrong. I must be doing bad math. Because I calculate his 5% return after all costs to be a minimum of $2000+ per month and thats my low ball calculation. I feel like 100k invested into sfh wouldn't come close to that net. At least not in my target area. I plan on investing in west florida. The rents in that area I'm looking at are 1200 on average but the home pulling in those numbers are avg 150k. I guess I would have to get a stellar foreclosure on two sfh to match what I think 100k could do in a partnered mfh investment of that size. I better keep doing some homework! 

Sorry the title should be "4 SFH vs MFH"

Hi everyone and thanks for reading. I've been doing my research by reading and listening to BP podcasts. I thought my plan to invest would be one SFH every 6 months with a budget of 30k (not 30k house price but 30k for closing rehab'ing etc..) to get into each home. But a few wks ago I listened to a BP podcast where a guy mentioned that he invested 100k into a 250'ish unit MFH. His 100k yielded him a 5% stake of the rents and equity in the property. Without going in to all the minor details my question is this. Would you plug away at 1 SFH at a time and at the 2 yr mark have 4 SFH's or would you jst save the 100k over 20 months, get in with the right team and invest in a large MFH? Obviously its a bigger game going into a 250 unit deal but it seems like per door the deal or return can be way better. Any thoughts before I start squirreling away 100k?

Hey guys if you ever start meeting up regularly in the Hattiesburg area let me know I would love to get together. I have no deals under my belt yet but I'm reading/learning and will soon pull the trigger. 

@Paul Trimmins 

Thank you for that info and your time to respond! Yes you are right my plan is to save a minimum 60k per yr to invest and I think that will give me good footing. And the club meetings are a definite. You hit a topic I have been researching and giving a lot of thought to, the pros and cons of student housing. Im really looking into that one. I will also check out those books! Thanks again!

George