All Forum Posts by: Juan Vargas

Great points above. I would echo @Andrew Johnson. If you are ok with having many different properties (single family), then you have to understand it most likely will be a slower process. When you retire at 50, is your goal to be financially independent at that point or is it to retire at 50 regardless of your financial position? If it is the former,  multifamily might be a better option for you. Not saying you can't do it with single family quickly but it tends to take a little longer. 

You can have it appraised but you also have to think about being over leveraged. You really don't want to be significantly over leveraged come a down turn. 

If you can convince your husband to move into another property, it might be the best way to go. 

Secrets of successful syndication. Although I have not been there, I've heard great things about it. Lots of guys attend from all over the country. 

What @Anthony Dooley mentioned is right on. Also make sure to get a list of capex repairs done as they won’t always be on the P&L statement.

Please post numbers to assist you with analysis. 

Is there a vacant unit that you could possibly move into? Then you could possibly qualify for an FHA loan at 3.5% down.

I agree with @Mike Dymski. You should implement what fits your business plan best. What are your goals? Do you plan on holding the property long term? Many use a 10 year term so as to weather the possible rise in interest rates. 

That being said, in most cases you should target the higher cash flow. 

@Gino Barbaro I completely understand. Focusing on just a couple things but doing them well most of the time works out better than focusing on many things and doing them just ok. "Inch wide, mile deep."

@Ryan Cox Since you mention the word "grow" and not "maintain" I'll say this... I think you have to constantly put yourself out there and give everyone you meet your "elevator pitch". For example.. When they ask you "How are you?", you can reply to them with "I'm doing great, although I could be better if I came across another x property that provides 10-12% returns." That will surely pique their interest and provide an opportunity to "grow" your network. Now this is just 1 example as there are many ways to do so. Obviously you'd have to follow SEC regulations but that's another story. 

@Jason Rogers A rough estimate on the back of a napkin will be about 50% and like you mentioned it varies greatly.