All Forum Posts by: Karl McGarvey

@Stacey Vair awesome!!!! I have not...yet. But Ive been working on my Masters Thesis for the last 2 months so it has taken over my life! Soon I will be back at it

@Heather Rodden keep in mind that the area in FL you are wanting to invest in will possibly not rent out year round because it gets cold in North FL during the winter months. Just something to factor into your analysis. That being said, tons of people are successful there!

@Jeff Davidson does St Augustine get a lot of winter rentals? It is pretty far North and gets cold compared to south FL

@Rich Ortega you will have to work a little to make 2%. 1% on turnkeys I have seen no problem, but to get 2% numbers you will probably have to fix up a distressed property and get a great deal on it. Not impossible, but may take some work

@Lucas Rudy depends on the end goal. Find your goal and your why and then work the problem backwards.

@Ian Livaich

“student rental is unnecessary because it is a single family home so the expenses should be similar to that of a single family home”

- Students do not treat houses like a typical single family home. They rarely stay in a place longer than a year and have a very different view point on their living situations than most families. I would err on the conservative side for Maintenance based solely on who your renters will be.

@Brandon Walker short term leads to things like flips and BRRRR... if the market and numbers work. But keep in mind, people get burned in the apt game too!

@Brandon Walker

One thing you didn't talk about is your end goal with all of this. Take your end goal and work backwards with strategy from there. If this is going to be your only property then thats one thing, but if you have a longterm goal with joining the REI community you should think about that and identify it along with your "why" and then work backwards. Different strategies work for different people because they have different goals, so on this post a lot of people will give you different strategies based on their goals and what works for getting to their goals.

Good luck!

@Curtis H. Numbers never lie! Convince them with $$$ haha

@Asa Ifill

You nailed it when you acknowledged the risk. Yep, BRRRR is RISKY. There is not guarantee that it all works out, but with risk comes reward. I have a contact who works with hard money/is a hard money lender and I bet a convo with him can hopefully answer all of your questions. Shoot me a msg and I can pass you his info.