All Forum Posts by: Patrick Drury

@Terri-Leigh H.
I would say LTR. I don't know anyone that has done well by turning single families into STR. I have heard the biggest headache for those people is they attract a lot of parties. A co-worker of mine has found that 1 bed and studios work the best. It accomplishes the same goal, minimizes how much they could destroy, and there is a lot lower chance you will have a ton of parties in a studio vs a single family.

@Esha Gangolli
I would recommend 1031ing the money into more rentals in the Midwest if you are unable to invest locally.Columbus OH would be a great pick. It's a solid hybrid market of cash flow and appreciation. Columbus has lots of job opportunities and population growth. I currently live and invest here in Columbus OH and would recommend it.

@John Anderson 
It depends on the Tenant's payment portion. Some tenants may be full pay section 8 tenants where section 8 will pay everything and others have to pay more. I have seen no decrease in CMHA. 

@Ezra Henderson
I would consult a lender or a hard money lender in your area and ask them your questions. They will be able to best help you!

@Shashank Viswanadha
Based on this sentence "We aren't active investors so we don't anticipate putting the money to good use, so checking if this forced rent option is going to serve us better overall in future.". I would say hold on to it and rent it out if you aren't active and have no plans. Depends on what you are looking for. If buying rentals is something you do very passive and want to put the least amount of work in renting out would be a great option vs selling. There isn't exactly a one size fits all answer. 

@Account Closed
Typically 50 calls per hr, but it really depends. 

@Sabrina Quinones
Congrats! 

@Chris Criss
If you would like, I can send over a Rolodex with some good contacts to help you build your team?

@Ezra Henderson
Using hard money would be your only other option if you can't use a DSCR loan. It's not ideal because the terms are typically shorter and you would have to refi in about 6 months-1 year as well as the interest rates are higher, but that's about the only option you have aside from having a parent take the loan out for you.

@Jacob Cuellar
Start cold calling. That's the only way you are going to find good off-market deals.If you don't want to cold call then find an agent who focuses on working with agents and sourcing off-market deals.