All Forum Posts by: Erik Hitzelberger

@Robert Khalev Of all the posts I read, my favorites are ones like this. I applaud you for taking action and getting into the game. Congratulations and good luck!

@Dana McMahan If you are paying cash, your target of 75% ARV at 100k is very achievable. I recommend focusing on 40216, 40258, 40272 and 40229. The key is that you have to be comfortable enough to act quickly when the deals pop up.

Feel free to reach out if you have any specific questions.

Good luck! 

@Clifford Merritt Most all of us remember what it's like to be where you are....the mix of excitement and anxiety that comes with taking control of your financial future. To get where you want to go is simple. Many people have done it before you and the steps are well-defined. That doesn't mean it's easy though. You will need to take action, to educate yourself and to surround yourself with like-minded individuals. This is a great place for the latter along with KREIA and the other networking/education groups in the city.

One thing I always encourage investors to do is to define their goals before getting started. If you want passive income, write down how much and when. This will help define the number and/or type of investments you want. Also, be brutally honest with yourself as to how much time and effort you are willing and able to put into this. That will help you identify the people you need on your investing team. The only thing worse than not making an investment is making an investment that doesn't support your goals. 

Good luck!

@Tana Oscanyan  I recommend you speak to @Clay Smith at LREI 

@Niyi Adewole Reach out to @Clay Smith at LREI

Greg Jones - Greg Jones Home Inspectors

@Steve Armstrong  We fill most of ours off of Zillow. As @Kevin Hart mentioned, don't advertise it as a student rental. Instead put "Close to UoL" or something similar in the title. 

I couldn't agree more with @Dan Close. Vacancy rate is the MOST important factor in your long-term success. Keeping a home rented in low-income areas requires different knowledge and skills than in other areas. It can be done profitably, but you either need to be great at it or have a great team. If not, your cash-flow will completely disappear. In non-appreciating areas, this leaves you with the unenviable exit strategy of compounding the loss by taking a hit on the sale.  

BTW, Shively is not the same as Portland

Add me to your list please. We are looking in Jefferson, Bullitt and Hardin counties. Primarily 3/1/ brick ranches for B&H. Would look at flip opportunities as well.  

Thanks,

@Dawson Swindler Study the segment (zip code or smaller) of the market you are interested in. Investor activity is high and even questionable deals get scooped up quickly. You need to be able to recognize the value and move fast right now if something does pop up. 

I recommend you set goals regarding the type of investment you want to make as well based on whether you are looking to build wealth, establish a cash-flow stream or a combination. Five years ago, you could be in and done on a Germantown shotgun house under $100k. (in some cases... waaaay under). Today, you'd do well at $150. Rents have increased, but not proportionally with price. You might be able to pull cash in the refi, but the property may not cash-flow. The same is true in the Highlands, East End, etc.  No one but you can decide if that's acceptable. If a deal doesn't support your investment goals, it's a bad deal.