All Forum Posts by: Justin M.

Just got my ticket, looking forward to it.

 I would be curious how people are buying these as a whole complex? Most of them I have seen are all individual owners, and the one I bought I found out was actually nearing pre-foreclosure (hence my relatively good price).

I ask because I would love the opportunity to buy a whole 4plex or 6plex :) Just seems very rare.

Are you talking about buying a whole property, or just a single unit in a duplex/triplex?

My most recent deal was a single home within a fourplex. Purchasing it was no different than an SFR, but I think 15% down was the minimum for investment property purchase. The rates were about half a percent higher than owner occupied as well.

Thanks everyone for the replies.

I agree finding undervalued properties is difficult, but will continue to look with my agent. That is a good idea about using some equity in my existing properties for another. I am just ultra cautious like Bill said with the way the market is :)

I've thought about the house hacking approach too, that is basically how I got my first rental property. What makes it hard is having to move my family (of 4) every year to new schools and all. It is enticing though, since my current primary has a small mortgage from when I bought it in 2012, it would cash flow really well. The flip side is my new primary residence would have a much higher mortgage from the current market...

Thanks @Ryan Rominger for reaching out with that. I actually just started looking at out of state investments with friends in other states. That seems like a possibility and at first glance, I could make my money work a lot more for me in other markets.

Hello, my name is Justin and I am new to BP. I have been a real estate investor for about 8 years, with 1 property. However, up until the last 6 months or so, it was not much more than a hobby. I am taking the next step, beginning to treat it as a side business with more focus and looking to invest in more properties. I just recently bought my second property and while it was an ok deal, I feel like I could do better.

I am curious what others have been successful with in our market, with property prices being at what seems to be around the high point? I made my most recent deal work by buying one of the "cheaper" units in the area and putting 25% down to get the numbers where I wanted them. Unfortunately I do not have an endless stream of cash to continue to do that, so interested in other options :)

My focus is buy and hold with properties that produce cash flow immediately, pretty standard, I think. Right now I have units that are in either duplex or fourplex townhomes. My plan is to stick with those and hopefully entire multifamily's eventually. I am looking into how I can start the BRRRR process, as that seems to be a good option.

Thanks for your thoughts!