All Forum Posts by: Alex Olson

@Jason Malabute The demand to live in them are low or the demand to buy them is low? I think you will find just as good of tenants to rent in duplexes as a SFH, or at least close. I am not sure what area you are looking at investing in but its all about the location location location when buying any property. It is ok to "overpay" based on your standards if the location litterly can't be beat. I only invest near hospitals, school, entertainment districts or new modes of transportation. And by near, I mean 2-4 blocks max. But...that is what my area is good for.

@Pete M. That sounds like it should be fine. Let me know if you need any help. 

@Ryan Daigle I think predicting what will happen is fun and hard and all things exciting but I think the smart thing to do is to continue doing what we are doing. People will always need places to live. Stay the course and slow down. I do think it is more recession proof than most other investments. 

@Jason Malabute I would suggest starting with a duplex or triplex or fourplex. It is much similar to a sfh. Then, once you get a handle on that for 6 months or so, you can go for larger complexes. You will need to (or maybe already have) a management company to manage more and more units (or manage it yourself with employees/contractors). Your goals are great, just make sure you have specific steps in between. 

@Kevin Lisewski Way too early to tell at this point in time. From what I am hear, I doubt it. I would err on the side of the caution and continue to proceed with your exchange in identifying three properties before your 45 days are up. Make sure to use the Delaware Statutory Trust as a fail safe option so you are not left holding the bag. 

@Joe Windsor I think the price is ok. yes encourage to get a year long lease signed. I think just being calm, sitting down with them, going over the new lease and the rules and you will be just fine. Explain to them why they do things the way they do. Everything will turn out fine. Use an online payment service like cozy.co (its free for everyone) to keep track of everything if you are not. You can get payments, get applicants, maintenance requests and more. I have used it for a few years and really like it. Good luck - if you need more insight and help regarding KC just dm me. 

@Pete M. its probably ok as far as kck goes though it does have crime. Of course would depend on what cap rate they are trying to sell it at and what cap rate you can get it to with the value add. And of course, what your long term strategy is? All of KCK is getting better all over so hard to say without knowing the exact location. 

@Kim Tucker I still think it is too early to tell exactly what is appropriate and not. The best thing to do is to be understanding to your tenants and look at it on a case by case basis. Never play favorites with tenants and keep rules consistent to protect you in the long run but also have a heart and compassion when needed. We will all get through this together with our without help from federal government and the federal reserve. 

@Beary Bowles You can find a bank that does a line of credit (typically a local "portfolio lender") or do what is called a cash out refinance. Where you take the equity out and then use that equity for whatever you want. Yes, mortgage payments go up but if you use it wisely you can continue to make big gains (buy more units, pay off higher interest debt etc...) Hope this helps!

@Jason Appel I have done 3 seller financing deals in the last 2 years. It is all about building a direct relationship and giving them favorable terms. I would also be cautious about what exactly you are looking to do and how you will pay back your loan. You may want to find a broker in your area that has worked with sellers that have done it in the past. That is how I learned. Please keep me updated or DM me for more info.