All Forum Posts by: Jared Hottle

Getting started with real estate investments, particularly in single-family and multi-family rental homes, can be an exciting venture. Here are some recommendations and steps to consider:

1. Educate Yourself: Begin by learning about real estate investing. There are various resources available, including books, online courses, podcasts, and websites that can provide valuable insights. Some recommended books are "The Book on Rental Property Investing" by Brandon Turner and "The Millionaire Real Estate Investor" by Gary Keller.
2. Set Investment Goals: Determine your financial goals and objectives for investing in real estate. Consider factors like your desired level of involvement, the amount of capital you can invest, and your long-term strategy.
3. Research Local Market: Focus on understanding the real estate market in Michigan, particularly the areas you are interested in investing. Analyze rental demand, property prices, vacancy rates, and potential rental income. Websites like Zillow and Redfin can provide helpful data.
4. Networking: Connect with experienced real estate investors, attend local real estate investment groups or networking events, and join online communities. Engaging with seasoned investors can offer valuable advice and insights into the local market.
5. Financing Options: Explore financing options for real estate investments. Speak with lenders to understand mortgage rates, loan requirements, and investment property financing options. Additionally, consider working on improving your credit score to increase your borrowing power.
6. Start Small: As a beginner, it's often recommended to start with a single-family home or a small multi-family property (such as a duplex or triplex) to gain experience. Starting small allows you to manage the property more easily and learn the basics of property management.
7. Real Estate License: Obtaining a real estate license is not mandatory for real estate investing, but it can provide valuable knowledge and resources. It may also offer access to the Multiple Listing Service (MLS) for finding potential investment properties.
8. Team Building: Assemble a team of professionals, including a real estate agent, attorney, accountant, and property manager. A real estate agent specializing in investment properties can help you identify suitable opportunities.
9. Analyze Deals: Develop skills in analyzing potential investment properties. Learn about key metrics like cap rate, cash flow, return on investment (ROI), and the 1% rule (monthly rent should be at least 1% of the property price).
10. Take Action: Once you feel confident and have thoroughly researched the market, start searching for properties that meet your criteria. Analyze potential deals, conduct inspections, and make offers.

Remember that real estate investing requires time, effort, and ongoing learning. Be prepared to face challenges and continually educate yourself to make informed decisions. It's also crucial to conduct thorough due diligence and seek professional advice when necessary.

Each state is different. I would recommend looking into process servers in your area or referrals from other investors on a good real estate attorney. For me this is something to pay for because so many technicalities that get them thrown out and all the money you could of saved is gone in needing to wait.

There are pretty serious implications if you do not have the money the day of. Is it possible to have the money before hand? I have never done the walmart to walmart but can they transfer that much in a day? I think it would be best to buy in your name and have his money secure a mortgage on the property. Make sure to go to the sheriff sale and see how it works. In my area they are hardly a deal anymore because of the competition and bidding up.

Join us at the Cedar Valley Real Estate Investors Family Picnic on Tuesday, July 11th, from 5:30 to 7:30. Bring your family and indulge in delicious food and refreshing drinks while connecting with other individuals who share your passion for real estate investing. It's an opportunity to enjoy a great time together in a like-minded community.

Ben! Welcome! I am in Cedar Falls/Waterloo but have helped investors all across Northeast Iowa. Welcome and would love to connect sometime

Event Title: The 1st Ever Cedar Valley Real Estate Investors Vendor Night!Date: June 13th, 2023

Time: 5:30 PM - 7:30 PMLocation: Fishsticks Millworks

Address: Ansborough Avenue, Cedar ValleyDescription:

Join us for the first-ever Cedar Valley Real Estate Investors Vendor Night! This event brings together vendors from around the area who are here to assist real estate investors with their needs. Whether you're looking for financing options, property management services, legal advice, or anything else related to real estate investment, this event is the perfect opportunity to connect with the right vendors.Come and enjoy an evening of networking, learning, and building valuable relationships within the Cedar Valley real estate investment community.Refreshments:

Drinks and sandwiches will be provided for all attendees.Admission:

This event is free of charge

I would look to BRRR single family properties. Maybe tough to buy all cash but definitely could look at using a bank to fund purchase price and construction costs with a down payment. Or look for a seller finance deal and use the money to rehab. Buy a house, fix it up, rent it and refinance and then do it over again with the same 100k. Cash flow will be tight but you will be building wealth and can refinance when rates come down.

Personally I would look to BRRRR single family properties in the midwest. Find something for 50-100 that needs work, put 20-50 into it and refinance. Cash flow will be tight at current rates but you can keep reusing the 500k over and over and if it is too tight on cash flow or negative cash flow very easy to sell a renovated single family still.

Honestly some great points on here but I think that would be the first thing I would look to reduce or get rid of. Seems like a large expense and does not incentivize tenants to keep the place clean.

Always hard to predict in the Macro. I think lots of areas will have a mid-term property need. The smaller markets and rural areas get neglected for Midterm rentals but I think the market for furnished medium term rentals will be strong in them for awhile.