All Forum Posts by: Luke Trovinger

Hey @Dominic Boadu would love to connect! Where are you based and what are your interests?

Hey @Gabriel Dent! Definitely spend as much time as you can learning about the different areas of investment regardless to see what areas interest you the most so you know where to focus. But check out house hacking! It's a great way to get into a property with a low down payment, and being in college it'd be a great way to benefit if you've already got roommates anyways. It could work with a multiunit where you live in one and rent the other, or a traditional house by renting out the rooms. It's a great way to get started and build a foundation from. Best of luck!

Congratulations @Justin Goodin! Looks like the numbers would make a great BRRRR as well, have you already sold?

Hey @Roshan Patel! In a competitive market, down payment is definitely an item that I've seen sellers look regarding the competitiveness of the offer. That said, there are other ways you can strengthen your offer such as putting a dollar threshold on any potential inspection objection, offering an appraisal gap, escalation clauses, etc. FHA offers still get accepted! House hacking is a great way to start out, best of luck!

Hey @Scott McPherson! Not a buyer or seller, but longtime BP listener. One of the biggest things they seem to preach is broker relationships in the multifamily space. Seems like brokers may shop the deals around to their known buyers before it actually makes it to market. Maybe reach out to some multifamily/commercial brokers in your area and work that network? Best of luck!

Hey @Blake Harris! No direct experience here, but what does your market command as far as renting as a singular unit vs by the room? If you can get 800 per room including utilities but can get 1400 as a single unit with the tenant paying their own utilities, does that end up ~ the same? If it does cash flow much better, is that worth your extra headache with double the tenants/leases? Just some things to think about! Would love to learn more about your area and what you could get by the room vs the unit. Best of luck!

Hey @Daniel T Stockman! Congrats on the pickups! Not sure you're looking for a full blown platform, but RentRedi offers this service and I believe its competitors do as well. Just an option that's out there for your direct question as well as a self-managing platform. Best of luck!

Hey @Ryan Tessier! I definitely like what @Brian Garlington posted here. I'd also ask you if you have any such clauses in the lease that outline your payment terms?

Hey @Jezelle John! Not sure what the norm is for your area, but I'd hope you'd at least get any retainer fee credited back upon successful closing. My preferred route is to go with the traditional success fee / commission at closing. Especially if you are on the buy side, the seller pays the buyer's agent commission so there would be no out of pocket cost to you. Likely will end up being a matter of your preference, but I believe the majority of agents out there stick to commission only. Best of luck!

Hey @Jignesh Savaliya! I think it's really a matter of preference, but if it were me I'd continue with a yearly lease and just maintain the option to renew. Just in case circumstances change with your tenant change, you've got an easier out than you would with so much time left on the lease. Just my two cents, but good luck!