All Forum Posts by: Michael N.

I’ve been using Bottom Line Realty and Management since November and I’m very satisfied with them. They’re managing a portfolio of 9 properties for me.

You can put in a backup offer when cash buyers or flippers get them under contract. Worked for me. Also did FHA and had to convince mortgage guy it was allowed. This was for a duplex.

Very creative strategy! Looking forward to hearing replies.

Sounds like you’ve alerted the cities to the illegal units already by checking with them. Fines coming.

I’m going to try to go extreme here. Continuing on with the 5% interest rate. Instead of paying it off, if another property was bought and it was a terrible deal 5% cash on cash. The equity pay down and appreciation would still make it better than paying off the mortgage of the other property. How’s my logic?

Why would adding a 5th unit after purchase affect financing? Buy as a 4 unit, why does the bank need to know about adding a 5th?

Not in the Dallas area, but wanted to give you some hope. I bought a duplex in Arlington VA in 2016. I believe the area has around 7 multi-family sales in the last 2 years, extremely rare. Duplex went under contract same day as listed. I went in as the backup offer and ended up with it. Stay with it, good luck.

I think you’re putting too much thought into being near universities. https://priceonomics.com/where-is-the-roommate-capital-of-the-united-states/ The article is a little old, but shows Miami as #40 on the roommate list. Coming from #2, it’s been no problem. If they’re in my unit, I️ prefer them to be on month to month as a precaution. Any kind of problem either way, 30 day notice and the problem is solved. Most have stayed longer than a year on month to month.

Get a duplex with multiple bedrooms in each unit, get roommates for your unit. If it’s 3 bedrooms on each, deduct 5/6 of expenses. If you don’t like money, ditch the roommates.

Closing on a portfolio deal this Friday with one unit in the same complex!