All Forum Posts by: Nathan Platter

Hi @Tucker Long ,

I'd recommend talking with a mortgage pro who looks at these kinds of financial decisions day-in and day-out. @Kim Burke comes to mind.

HELOC's can be great, other investors I've spoken to do a simple refi and pull out 70-75% of their equity and deploy it elsewhere, so still under your target 80%

@Angel Clark, 

I'm tagging @Tim Joyce because he knows Legal terms quite well.

Hi @Brandon Fuelling ,

The endeavor you're speaking about is "househacking", where you owner-occupy a 2-4plex ad then rent out the remaining units, yet have residential loan on the property meaning less cash to acquire.

Very common strategy, I'd highly recommend you do that over waiting to accumulate that additional 15% (ledners I've talked to are saying 25% down is the new 20%)

As long as your household is on board, owner-occupy another 2-4plex and conserve your cash while you acquire experience as a landlord / property manager.

Hi @Michael Volek,

@Millie H. does a lot of rehabs there and has many contacts, she may be able to help.

I definitely agree with @Jeff Greenberg , REI is a self-starter business and you've got to put in work before anyone will invest in mentoring you.

Seeing that you're in South Whales, definitely take multifamily advice with a grain of salt since some of the materials you'll find are US-specific, but the process and fundamentals of finding deals and partnering on deals will be universal.

Vouching for @Jordan Moorhead, he's an investor  "who happens" to be a realtor. I've provided input to some deals on here and he's brought in additional insight that definitely added value.

@Sean Richway 

He can help you, his team does lots of different funding routes and mentioned he can lend on some Seller Carryback situations.

@Lee Fahy / @Rachel Brewster

You are correct, most of Minneapolis itself is currently overpriced for the rent amounts to properly work. The NE area (e.g. Sociable Cider Werks) still has occasional 2-4plex deals that has decent financials, but otherwise start looking in more of the 1st tier suburbs (richfield, golden valley,...) 

@Chris Marshall

Ahhh gotcha, I must have misread and got the 900 from somewhere else. Yeah, as long as the business model is self-sustaining (which it sounds like it would be, also when factoring for larger repair items) Financially, everything seems OK. Always have 3% of the property value set aside for those big repairs and you should good.

@Marian Smith does make a good point, living in a flip is a not easy. Things, like using the family room as your short-term bedroom and washing your dishes in the bathroom, are not uncommon.

Hi @Chris Papa ,

I used to work at a Turnkey Provider. TK's are best suited for investors with:

1. Lots of access to cash 
2. Little time or desire to coordinate rehabs
3. Getting  someone else to build your acquisition/renovation/management team

However, as @Cody Evans mentioned, you will indeed sacrifice ROI. Most SFR TK's are 7-9%

When evaluating TK properties, use your own calculator and not the advertised numbers.