All Forum Posts by: Michael Kimmell

Most predictions are wrong🤷🏻‍♂️.

What do you do for a day job? I’m just curious because people sometimes leave that out of their stories and I wondered how you were securing the loans. I have pretty much done what you have done, going from 2 doors in 2011 to 32 doors today. I just know I have gotten to the point where my debt to income ratio is about to hit its ceiling. 

@Erik Mogan you live in a state where the 1% and 2% rule work. Take advantage of it.

On the M2M. I will say just know your market. I have properties near a military installation and some in a small college town. They tend to have a moving season that if you don't time right will bite you. Also in a lot of northern areas Poole don't like to move in the winter. Just my experience

You might. The numbers have to make sense. I had a duplex that was renting for 2500 a month. I think I netted about 700 from it after mortgage and bills. I came across some deals but needed cash. I sold the duplex and took the 130k equity I had and used it as the down payments for two buildings that made me 6000 in rent with a take home of around 1800. So all I did was moved money and I increased my cash flow and my holdings for the long game. So do your home work and find a deal that makes sense.

That's my point! Why is the city passing a law that they know is un constitutional. They know it will get defeated in the courts. So they just want to waste our tax dollars on political  Theater. More importantly I'm buying a third multi family in the midwest😊

I don't know John. Seattle is an neat place because of the naturally beauty and I think the whole house of cards is going to fall. The socialists politics is getting crazy here now. The homeless are everywhere, the politicians worry more about fighting trump than local issues, we have a state school (evergreen) out of control, have a light rail tax that is basicly making us spend billions on a toy train set that will barely help our ridiculous trafic, the war on land lords, the gang war going on in south king county, etc...

@Riley Kuranishi, A freind pointed out to me that a big Seattle company was creating a lot of jobs at said location. I contacted an agent and flew out there and looked at inventory. I bought one and closing on a second. Cash flow is awsome. I make more money even after paying a prop manager. One thing to watch out for is buyung multi-families is tricky with fiancing. Local here won't lend because property is there and local banks there won't lend because I'm here. 

I think prices will Plateau, cool, and maybe go down a little bit, but there is a real inventory problem on the west coast, especially with starter homes. So I don't think a real crash is coming anytime soon. Plus so much of the inventory is own by landlords that pay their bills. That is my take anyway.

I have already started buying more property in the Midwest. Stuff here is too expensive and it's hard to cash flow out. But I have to admit the crazy rise on property has given me equity and the cash to buy else where.