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All Forum Posts by: Grant Rothenburger

Grant Rothenburger has started 23 posts and replied 2021 times.

Post: Finding Tenants For Fourplex

Grant RothenburgerPosted
  • Investor
  • Taylor Mill, KY
  • Posts 2,076
  • Votes 964
Originally posted by @Jerry Jawuan Huggins:

@Grant Rothenburger Not quite for my particular situation. I’m National Guard, so most of the soldiers that I work with already have their housing situations in place given that we are reservists and only leave home for long periods of time if we get deployed. Finding tenants this way would be ideal for an active duty soldier, since they all live in close proximity to their respective unit and they tend to be younger soldiers looking to room with someone anyway. Thanks for the advice my man.

 That makes sense

Post: Intro- Getting ready to buy a multifamily property

Grant RothenburgerPosted
  • Investor
  • Taylor Mill, KY
  • Posts 2,076
  • Votes 964

Welcome @Brian Crimmins to BP and back from deployment, thank you!

Post: Jersey City Newbie Starting Out!

Grant RothenburgerPosted
  • Investor
  • Taylor Mill, KY
  • Posts 2,076
  • Votes 964

@Patrick Fermo

The ole' Grant Cardone trickaroo. I don't hate it, but let's apply it realistically. My boss set a goal to control $1 billion in real estate by 40 and he's on track. He didn't get there by setting a goal, putting on a vision board and just looking at it everyday. You have to say okay so $10 million net worth in (we'll say 12 years). How do I get there? I can buy 10 $1 million properties, how do I do that? It could be 100 - $100k properties - how do I do that?

So set that $10 mill goal! Figure out what kind of properties you want to own/control. MF, SF, self stroage, STR, raw land, industrial, office, parking lots, lol the list goes on and on. Then figure out what it takes to own $10 mill worth in 12 years, start working back from there. You'll have an idea of what you need to do each year to make it happen. Then you break down the year by the month, then commit yourself to doing the things you need to do every day and month to reach the 1 yr and 10 yr goals.

This is one way to look at things, there are many. It's just an idea at worst, do what makes you happy :)

Post: Strategies for dealing w/ MFR brokers (who fudge numbers)

Grant RothenburgerPosted
  • Investor
  • Taylor Mill, KY
  • Posts 2,076
  • Votes 964

@Avtandil G. No, I mean they will almost NEVER be accurate, accept it. Make assumptions, underwrite, make an offer. When you're under contract, get the real financials and do your due diligence. If you're waiting for an honest and realistic OM or listing, you'll never submit an offer. Maybe I'm misunderstanding your issue/question.

Also, partly yes to your question, if something has a low cap rate but your business plan is to add value and increase rents, does it really matter what current cap rates are?? I think you are waaayyy too hung up on cap rates, just my opinion. We have some videos and blogs on why we don't care about cap rates (much), I can share with you via DM if you want to message me, can't share here. Basically, the MORE important part than the cap rate is your business plan. That's not really what you asked for, you asked how to deal with these brokers fudging numbers, my answer is the first paragraph in this response. You'll always have to do your own underwriting, they will almost never be correct or honest, simple as that. Just have to keep searching or adjust your business plan to something that can work with lower cap rates to your advantage. Or find off market deals more to your liking, or don't buy real estate anymore. That's about all the options.

Post: Want to trade rental homes for small businesses

Grant RothenburgerPosted
  • Investor
  • Taylor Mill, KY
  • Posts 2,076
  • Votes 964

@Account Closed I'm just a curious one, what's the plan with the businesses?

Post: 22yr old Newbie in Wichita, Ks

Grant RothenburgerPosted
  • Investor
  • Taylor Mill, KY
  • Posts 2,076
  • Votes 964

@Austin T Bradford Welcome!

Get to networking, meet people with money. Also might be able to use HML's. But you will need a job and some sort of income, unless you found someone that funded everything in exchange for a newbie doing all the work (highly unlikely). Your best bet is to find a flipper and try to work for them or help their business in some capacity (other than working full time, which I know is tough in college).

Post: Section 8 Housing Pros/Cons/Advise

Grant RothenburgerPosted
  • Investor
  • Taylor Mill, KY
  • Posts 2,076
  • Votes 964

@Holden Davenport I know investors that love their section 8 properties and that's all they do. I also know others that would never touch it. 

All strategies have pros and cons, which ones would you rather deal with?

With Sec 8 you get the money monthly with little hiccups (usually) but you're typically dealing in lower income areas/properties and tenants (at least the ones I know of, could be different in other areas).

Contrary to @David Wright most investors I talk to love getting that "guaranteed" gov money on time every month, I've not heard them talking about "slow slow monthly payments". Also, the tenant problems he mentions can be mitigated some with good screening.

Welcome @Jeff Koehler Props to you for putting this out there. Please understand this next part is meant as helpful advice, not putting anyone down.

Successful real estate investors get messages like this 10x daily. Get noticed by being different, get to know some flippers in your area, go to meetups, build relationships. Then tell them what you're good at, how you could help their business, maybe even offer to do whatever it is your suggesting for free for a period of time until you've proven your worth.

These guys and gals get countless "hey I want into the business, is there anything I can do for you?" messages. Not that they don't want to help, but they don't have the time to figure you out, what you're good at, what you're not good at, how serious you are, how you can help them etc... It's different if they know you a little and then you say "hey I could do this, this, and this for you in exchange for the education/possibly pay."

Hope that makes sense. Good luck.

Post: Jersey City Newbie Starting Out!

Grant RothenburgerPosted
  • Investor
  • Taylor Mill, KY
  • Posts 2,076
  • Votes 964

@Patrick Fermo

IMO the best thing to do is pick a strategy and dive in. Start learning different strategies, find one you think is for you, and dedicate all your REI time to that strategy. Also, making a 10 year goal and working backwards from that goal can be helpful in determining what to do.

Post: House hacking Questions On Utilities & Mail

Grant RothenburgerPosted
  • Investor
  • Taylor Mill, KY
  • Posts 2,076
  • Votes 964

@Elizabeth Najera If I were to house hack, I'd probably just factor utilities into rent and make that known when advertising the unit. You'll have to talk with some small MF owners around you and figure out what the average utilities are so you can make it fair.