All Forum Posts by: David J.

Some great encouragement @Dylan Vargas 

I will see if I can reach out to someone if I can find someone who doesn't want to charge me an arm and leg to look at my situation in depth. Although, I have to say I feel pretty good with the numbers myself. I do financial analysis at my main job for a living. However, it couldn't hurt to have a second opinion.  Thank you!

The issue is I don't seem to have any good ideas to keep the ball rolling. Everything seems like a non starter. For example, I can refi one and get 60K, but raise my monthly $300/Mo this will allow me to buy a property that will generate $800 cash flow per mo but if I already raised my monthly  with the refi I am only ahead $500. That's a lot of work and cash down for $500 / mo.  Not a good cap rate there.

Money now is better.  I would take the $1M

Hahha sorry, typo. Thanks for catching. It's $3000 and renters cover a bit more than half.  (didn't need the K)

Thanks for the info Ken, I am new to the commercial side of things but it's certainly where I want to be eventually. 

I was looking at some buildings that are 1.2MM but even still I don't think my net worth would cover the difference even if I have the Down. Looks like I will just have to find a way to step up my residential game.  That's why I am here looking for ideas. Surely there are others who were once where I am and found a way to push through it. Once one can get 10K - 12K + coming in monthly it seems like it would be easier to save for the next down to repeat the process. I just need to break through some how.

I have found a few 60 unit buildings that are in the midwest which I could likely have a management company look after. Just not sure if it's worth giving up my nice California homes for a run down 60 unit junker. 

Why do you say I would need to partner?

You really nailed it for me. It's feels like getting the engine started on the plane, getting the wheels rolling on the run way, feeling exciting about flight but not quite sure how to take off. I feel so close to really unlocking this thing and having my portfolio really working for me to keep growing yet.... so far away. The one thing I have going for me is that I am determined.  I have wanted this since I was a little kid.

 I love real estate! I like finding deals, I like managing property, I like repairs. I am in my sweet spot doing it.

So really no end game, I want infinite property. However, some more immediate goals would be to have enough cash flow to quit my job and not have to worry about where I will get the money for my next deal.  Lofty goals right.. but I can't get there if I am stuck in one place.

Thanks guys. Given my information would you guys keep the properties? Should I cash out and buy some 60 unit apartment in the mid west? should I refinance a few of these and see if I can get into 1 or 2 more single family homes?  Just not sure how to get the wheels moving again. I feel like I have a good start so there must be some moves here just don't know what the play is I should make. 

It's tricky too because everyone talks about BRRRR but a refinance causes payment to go up. This should be subtracted from whatever cash flow gains are to be had on additional purchase. ackk.. I am really just stuck.

Yeah I find lots of workable deals if only I had some free cash to use.