All Forum Posts by: Nadeem Alamgir

Welcome to BiggerPockets @Alan Siciliano

Check the Zillow FSBO searches

@Joshua Ledin

Welcome to BiggerPockets. Most investors use QuickBook or Stessa for tracking income, expenses, and tax reports. Stessa’s free and built specifically for rental owners, so it’s a good place to start.

@James McGovern

Most don't know or aren't trained to negotiate with builders. Builders usually prefer offering credits towards closing costs or rate buydown because it protects their comps, so price reductions can be tough unless it’s a slow project or the home’s been sitting.

Welcome to BiggerPockets @Troy Jones

@Erica Davis

I’d start by vetting their systems, how they handle marketing, tenant screening, payments, fees, and maintenance. The reality is most PMs are busy and won’t drop everything to answer every question, but they should at least be willing to schedule an intro call and walk you through the basics. If they can’t do that, it’s a sign to look elsewhere.

Yes! Almost all residential investors.

@Justin Bul

Cleveland, OH, is the market I focus on and it has solid multi family properties that cash flow under $200k-$250k. Midterm rentals can work in certain areas, but most investors here prefer long term tenants, either private pay or Section 8. 

@Chris Mclaughlin

There are horror stories with private pay tenants as well. As a landlord, it ultimately comes down to how well you screen potential tenants to live in your units. In Cleveland, at least, it is based on the area and the number of bedrooms. 

@Rachel Gutierrez

Here's some common strategies:

1. You can house hack. Live in one unit, rent the rest out. Lower living expenses while gaining landlord experience. Easiest way to get started.

2. You can buy for cash flow. If cash flow doesn't exist in your market, what many investors do is invest in smaller more affordable markets with a favorable price to rent ratio.

3. You can flip. This is basically like full time job. You have to manage rehab + timelines.

4. You can BRRRR. Buy, rehab, rent out, refi, and repeat. This is also another full time job because you're managing rehab and timeline. This one is also something that might be harder to do in high priced states, starting out, so many investors go out of state. High risk, high reward. The reward is you can pull most or all your money out here and continue to buy and build up equity in all angles + potientally cash flowing. Risk is that if you don't do location + deal due diligence properly and work with incompetent contractors, you lose money.