All Forum Posts by: Magenta Vaughn

Hey there, I converted 3 of my 4 ltrs into a combo of str/midterms. That way in the summer I can maximize income and pivot to mtr in slower months. I found that because I was using a property management company, although I started bringing in A LOT more money, i was KEEPING LESS. The property management collects 50/ of the first month with every new tenant. Long term you have 0-1 tenant a year for them to collect half f first months rent/placement commisison. But when you have mid term stays, its more like 3-4 tennants each year. So that means I lost 50% 3-4x a year! This one small detail I did not account for added up to huge loses. I spent SO MUCH on decorating and furnishing. So def look at your options with managers and do your research. Some markets will have a higher mid term earning potential, so I would research which markets have lowest supply vs demand. I hope you're able to learn from my mistake. <3

Hey, checking in to see how you are doing? I am somehwat new to real estate investing as well so I wanted to see if you have landed your first deal yet or decided to move into a home and house hack. I think they are right, house hacking is the best way to go unless you are already living somewhere for free. Even then, it can be beneficial because a lot of times in Waco, you need to be living at the primary residence in order to establish an ADU or secondary residence to Airbnb.

I'm super grateful I found bigger pockets in my early 20's. I would listen to the podcasts over and over with my headphones while I worked outside in my gardens all day. Just getting all the information in my head and telling myself I would find a way to invest in real estate. It hasn't been as easy as I had hoped, its going slower than I had hoped. But I feel very lucky to have been able to purchase three small investments so far. Each one getting a little better as my reach slowly grows. Last Autumn I had the pleasure of finishing up the self designed and custom built-third unit in my 4 plex to rent out as a midterm rental. I'm now looking for my next deal, hopefully an owner occupied multi family. After that I may get my first J O B working for someone else to speed up the investment process.

Investment Info:

Other other investment.

Raw land. Lots of water. Easement with hydroelectric plant on rear corner of property that may be reverting back to me. Looking for investor partner. Rare gorgeous spot with Native American artifacts.

What made you interested in investing in this type of deal?

Originally was used as a farm and homestead. I wasn't into real estate yet. Looking to convert into something profitable now that I am no longer a farmer.

Hi! I am a newer to real estate investing but def understand the potential benefits of writing off W-2 income with passive loses. My spouse and I have completely separate finances. He is starting to make more and we recently filed taxes jointly for the first time, as he saw what a huge difference it made. He is starting to make more and has agreed to see a financial planner, in the past he was scared to invest in anything. I have been trying to explain to him for years how having money in a savings account is the worst thing possible. He is risk averse. Does anyone have a good financial planner they can recommend to us that will lean heavily into real estate investing?

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $127,000
Cash invested: $127,000

4 plex MRT

What made you interested in investing in this type of deal?

I love multifamily. Its so efficient!

How did you find this deal and how did you negotiate it?

Mentor helped me

How did you finance this deal?

cash

How did you add value to the deal?

Turned it from a c/d i to a B class MTR

What was the outcome?

its cashflowing great

Lessons learned? Challenges?

Take the amount of work you think it takes to get a property running, then double it, then double that energy again if you want to make it run smooth and efficient

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

not yet