All Forum Posts by: Nicolas Lam

Hi Darshan,

Have you asked for the below?

1. the Seller for their tax returns to verify that the cash flow claimed is accurate
2. current year's tax bill via the local assessor's office
3. security deposits & ensure that you get the correct security cash deposits at closing
4. physical inspection of every unit

Are you going to do the property management or will you outsource?

Best,

Hi Elizabeth,

Welcome and congratulations on the decision! Your approach sounds great and I would also consider house hacking either in a single family home or a multi family!

How old is King Bubba and how does he show his affection?

Be Happy Now!

Nicolas Lam

Congratulations @James - very inspiring!

Hi Andres,

Firstly, do the numbers make sense as as rental (positive cash flow net expenses, debt servicing, vacancies, capital expenditures)?  If not, sounds like you have the numbers planning for a flip.

Secondly, if so this would work as a cash flow positive rental, I would look at the market cycle to determine what to do. During a Buyer's market I would do a BRRRR (Buy, Rehab, Rent, Refinance, Repeat), unless the market is almost at the top, then would consider just a flip. From your description of the neighborhood, it sounds like there's a consistent market for rentals which would incline me towards a BRRRR.

Thirdly, what do you know about the neighborhood and comps for other student rentals? 

Be Happy Now & Happy Holidays!

Nick

Just began the Miracle Morning routine (on day 7) and I am looking for an accountability partner. I'm in Sammamish, WA looking to invest in long-distance REI.