All Forum Posts by: Maz Pardhan

This is a great strategy for students and airline crew. The latter being best. The challenge with the students is there will be constant issues that you have to deal with. If you live there you can more easily lay down the law. But do you want this hassle. I have a friend who is an airline stewardess, they rent the house and  share a bunk room.

Obviously you need to be somewhere close to an airport. 
that said, You can find sfh that have great cash flow without the headache of sharing rooms. Having gone through this it’s a headache that I don’t miss. Let me know if you want to connect about that. 

Try calling from a different number, pretend to be someone looking for a property manager for a new property. Once he responds you can proceed to asl about your unit and how to get keys etc. 

Congrats on taking action. Are you looking to continue investing in Kansas City or have you looked at other geographies? 

Flipping ain’t easy. Your best to start with a property that you can brrrr. Have you spoken to a mortgage broker yet? There are different loan products available for various situations even if you don’t have proof of income. Look to market where you can start at a low entry price. Good luck 

You don’t need to invest where you live. Often times there are better deals to be had that exist at a lower entry point and also deliver better returns. Also, your debt may not necessarily prevent you from getting a mortgage. The sooner you start the better. 1)look at other markets. 2) once you’ve established what you need, go see a couple of mortgage brokers and discuss your situation. 3)take action - buy something sooner rather than later. 
good luck, if you have questions, I’m happy to help. 

Quote from @Jonathan Gee:

Hello everyone! My name is Jonathan gee I’m currently twenty years old, and I’m looking forward to build my future in Real Estate. I’m currently looking a mentor to help set my Real Estate foundation. I Really want to jump all in and looking to grow fast in the industry, but I know I need to learn a lot of information about the field. I’m currently reading “How To Invest In Real Estate” by Josh Dorkin and Brandon Turner. So far the book seems very knowledgeable about Real Estate. It has lead me to a biggerpockets.com webinar called the 90day challenge. That webinar was excellent but I feel like it left a lot of questions unanswered especially for after you buy the property.

.How am I supposed to fill the home with a renter?

. If I go in with an investor how do I make sure I’m still profiting? 
. What happens If the tenet doesn’t pay or wrecks the rental property? 

There are lots of questions and training I need before I jump In and commit. So if you are seeing my post and are willing to be my mentor please reach out I would really appreciate it.

Congratulations on starting your journey early. Great questions. You may want to start off with a turnkey company to learn the ropes. They find you the property, analyze the deal, get it renovated and find you a tenant. They also manage the property for you and deal with tenant issues awards. Happy to introduce you to the one I deal with. Let me know. 

Quote from @Michael Martin:

The debt is mainly on my investment properties which is why I wasn't as concerned about the debt. I owe roughly 300k still on the rentals with a market value of 640k. 

Are they cash flow positive ? Sufficient funds in case of large repairs ? If so then its really related to the investments and doesn’t effect you personally. Nothing to
worry about. 

your fourplex sounds like a good deal, although you’ve missed a few numbers. As long as those are covered and you have good cash flow I’d move on it.
the reminder of your funds could go into the market and diversify your investments. 

If it’s your first property I’d suggest a sfh, especially if you haven’t managed a property yourself, if that’s the case. Also do you really want to spend your time managing the 8 units with a full time job? I think your time is better spent finding /analyzing deals and making them happen. I’ve had both multi and sfh, I’ve found sf to be less headaches and better cash flow. Happy to share more if you need. 

Hi Taylor I’m a fellow Canadian, welcome to BP, I’ve learned a lot from here and happy to share with others. Investing in the US is a bit unique for us as we have to manage the tax relationship, but the returns are much better than I’m seeing in Canada and have focused my attention here. Happy to connect. 

Cash flow is king in the BRRRR world. if they dont cash flow its going to be difficult to refinance and do it again. California is going to be exceedingly difficult to do it. I'm doing this in the Midwest where the prices are low enough to fund the deal without the bank to start out with. The cashflows is also really solid and gives you a margin of safety in case there are any repair issues in the future. Happy to connect and share my success (and failures) /