All Forum Posts by: Nathan Murith

hey @Austin Jones, plus one to what Greg said, property valuation has nothing to do with how much it can rent for.

The best people to ask for an accurate rental estimate is a local property manager who manages that type of asset in that neighborhood.

When I run my numbers, I usually take an average of:

1. what my property manager tells me it will rent for

2. local housing authority (section 8) official rent rate for that number of bedrooms

3. rent estimate from a tool like: rentometer, rentcast, Zillow, etc

Happy to help more if you would like. do not hesitate to reach out, connect and DM me if interested.

cheers

@Jake Coddington, fellow STL investor here. Always happy to connect with like-minded people.

We have a portfolio of SFRs in STL County.

Are you looking for any particular part of you team?

In any case, happy to connect, please do not hesitate to reach out and DM me if interested.

@Jimmy Lasley welcome to BiggerPockets and congratulations on doing the work!

I still remember when we were getting started, so exciting!

We put aside a few hours each week to help newbies getting started. I am happy to share our preferred tools, tips, tricks, and other resources.

Please do not hesitate to reach out, connect, and DM.

Do you already know what type of real estate you want to get into?

@Zak Leonard have you tried the biggerpockets agent finder tool: https://www.biggerpockets.com/...

@Cameron Stevens

I would also make sure to double and triple check the numbers (proformas) you get from the Turnkey companies. A lot of them share numbers (proformas) that do not reflect reality in my opinion and make the returns look better than they actually are. For example, I have seen things as bad a turnkey companies not accounting for maintenance and repairs in their numbers... stuff breaks in rental properties and you need to get it fixed.

I have also personally found that returns you can get from a turnkey company today pale in comparison to what you can get even just on MLS (zillow, etc).

hi @Juan Contreras welcome to biggerpockets and congratulations on doing the work.

We specialize in out-of-state investing and am happy to share what we know, our mistakes, tools tips tricks, and anything that you may find helpful. 

BRRRR is such a fantastic advanced strategy, it has so much potential for growing your portfolio with minimal amounts of your own money when it goes well. It is not something I would personally recommend when getting started.

Here's another post on how a newbie trying BRRRR almost lost it all: https://www.biggerpockets.com/...

In any case, please do not hesitate to reach out, connect, and DM me if you want to chat more. 

cheers

@Matthew Laughery welcome to biggerpockets and congratulations on doing the work!

BRRRR is such a fantastic advanced strategy, it has so much potential for growing your portfolio with minimal amounts of your own money when it goes well. It is not something I would personally recommend when getting started. 

Here's another post on how a newbie trying BRRRR almost lost it all: https://www.biggerpockets.com/...

You should also keep in mind that BRRRR in a raising interest rate environment (which we are in) adds a layer of complexity to the process.

Regarding the LLC, it is up to you. An LLC is NOT NEEDED for real estate. It usually just adds one more thing to the already busy table. It adds a layer of complexity, differences in how you can finance you jobs, etc. It's not complicated stuff, but it is more stuff that you have to now figure out and deal with instead of dealing with what you should be dealing with: THE REAL ESTATE.

in any case, happy to share and provide any and all tools tips tricks we like to use. Please do not hesitate to reach out connect and DM me.

@Diana Gonzalez

+1 to what folks are saying above.

House hacking (living in one unit/room renting out the rest) a small multi (duplex, triplex, quadplex) is such a powerful strategy. you can get incredible rates with low down payment for your primary. then you basically live rent free or even make money from renting out the other units/rooms.

then you need find how to:

1. earn more - ask for an increase, rent out parking or storage space on apps like neighbor . com, get paid to put adds on your car with services like wrapify, drive for uber or pick up another side gig

2. spend less - know where your money is going. track things in DETAIL over a month and remove anything unnecessary, only spend on needs, not wants.

3. save more.

4. invest those savings

You can also start another full-time job if you want and get into wholesaling or looking for owner-financed deals. I say this a little bit sarcastically because a lot of people preach wholesaling as the best way to get started in real estate with no money. While that may be true, it takes quite a bit of time and energy so you need to be ready for that.

happy to chat more so please do not hesitate to reach out, connect and DM if interested.

cheers

Hi @Sana Tan welcome to BiggerPockets and congratulations on doing the work!

We have our portfolio in the Midwest, mostly Saint Louis and northwest Indiana. Everything for us is insurered through Travelers, I have not been able to find better coverage for price. That said, we have arrived at Travelers through working with a broker that does all the work of understanding what you want/need and then shopping it around for you to find the best insurance prices.

I would highly recommend getting an insurance broken on your team and working with them to find you the best.

Happy to share the few that we have if you are interested. Please do not hesitate to reach out, connect, and DM.

Cheers!

@Kenny Colato I hear you and you are right, you re far from being the only person in this situation. That said, real estate is a people and relationship business so you have to start practicing that muscle.

Happy to be a sounding board and do practice and trials runs. I have nothing to sell and will never judge, just here to help. So, take the first step, reach out, connect and DM me and we can get a chat going no pressurE!

Looking forward to getting you unstuck! 

Cheers