All Forum Posts by: Kyle Root

I started investing back in April of 2019 & I have 1 duplex and should be closing on a single family home going for my first BRRRR deal. As I continue to look for deals and learn more about the RE market (Midwest market, specifically northern Michigan/Wisconsin) I want to start looking in the apartment bldg market.

I hope to add 4-6 units over the next year which would double/triple where I am right now. What are some tips/tricks and things to look out for when searching for an apartment bldg?

Ex. $500,000 10 unit apartment bldg, 25% down would be $125,000 on a conventional (which I do not have). Outside of seller financing (which I am not opposed to), what are some other options for financing? How to minimize personal risk?

Any feedback would be greatly appreciated and look forward to hearing from you guys.

I was in a similar situation about 2 years ago. Just coming out of school and unsure how I wanted to approach my 401K. At the end of the day investing into your 401k is low risk and with the company match, it didn't make sense not to do it. My advice to you would be if you're looking at saving up money to invest in RE or anything else. Just do the company match and no more, this will allow you to have a retirement account that keeps growing with low risk of losing. JMO

I hope to get a lot of feedback from this post and I look forward to see what everyone thinks! My portfolio currently consists of a duplex and in 3-4 days I will be closing on a single family home attempting to successfully perform my first BRRRR. With that being said I have been doubling down on the two personal loans that I currently have (student loans & auto loan). After I close on the single family home and complete the renovations would you guys recommend paying off my loans or continue to invest in real estate? My loans are roughly $30K but what is keeping me from paying them off is I think my ROI in real estate will be more then the interest I would pay on my personal loans over the life of the loans. Is it smart to carry this amount of debt and to continue investing or should I pay them off and then get back in the game? I would greatly appreciate any feedback on this. Thanks in advance.

@David Abbate appreciate the feedback.

@Effram Barrett asking for different ways to calculate. Not asking what it is.

@Bjorik Mutize yes that is what I am asking. More of an open question. I could of worded it differently.

@Effram Barrett specially BRRRR a single family. I am in the closing period on one right now. Purchase price was $68,500, construction budget of $20,000...hope to appraise for $110,00 which with the research I've done I think is very doable.

I have found myself trying to figure out more efficient and more accurate ways to come up with an ARV. Sometimes I feel as if I am trying to overwhelm myself with information.

What are some of the ways you guys go about finding the most accurate ARV?

I have a single family home I have analyzed and am very confident about making large amount doing air bnb in summer/fall months. But I don’t think it will be very, if at all doing in the spring/winter time.

Has anyone ever rented out 6 months then did an air bnb? Struggles finding someone to lease for 6 month? I believe that if I did air bnb during the 6 months(hot season) I would still make a small profit, even if the house was vacant for 6 month.

I am also attacking this as my first BRRRR

This property is on Higgins Lake in Roscommon.

What do you guys think?

@Theresa Harris thank you for the input! All good thoughts.