All Forum Posts by: Patrick Menefee

@Aidan Mulligan @Julie Haneline @Hiram Harrington and anyone else who wants to join the GroupMe, send me a message with your number and I’ll add you!

What’s the best way to get everyone in touch via group chat or otherwise? GroupMe or something similar?

@Sid Montero I’m in charlotte as well, new to investing. There are a nimber of good agents on here (@Michael Clay for starters) and a buddy of mine is too. What part of town are you looking?

@Bradford Hancock count me in!

@Trace Allard couldn’t agree more. I was in the elevator at my hotel yesterday and heard some talk about how he bought 4 houses...turns out he’s a contributor on here so I connected with him. It’s like when you consider buying a specific car and notice it everywhere haha

Thanks @Julie Haneline for the fantastic article, going to have to give this a look...

@Trace A. welcome! I got active on the forum all of 5 days ago after listening a lot in recent months, and it has already been more insightful than I could have imagined. 

I'm in the same boat, although not exactly about to start my first BRRRR. Certainly interested in this conversation though!

What part of Charlotte are you in?

Big thanks to everyone, this certainly got much more attention than I expected and the feedback has been phenomenal. I've certainly found that I can do better analysis on my end, and to that point I want to especially thank @Michael Clay for reaching out and hopping on a call today with a specific example in the Charlotte area. I appreciate you taking the time.

Some of the most interesting points I gathered from this are:

• find what metrics are most important to you, and evaluate appreciation vs. cash flow
• frame of reference only-1% doesn't make it a good deal, .95% doesn't make it a bad deal. Obviously it depends on the region, but also evaluate the neighborhood, quality, future capex, etc.
• the comparison to stock PE ratios by @Bart H. was a very interesting point (on page 2 if you haven't seen it, I recommend taking a look)
• ultimately, identify your strategy and see how the 1% (or any other) rule applies

The bottom line for me is I need to spend more time analyzing deals to figure out what's right for what I'm trying to do. Thanks all for the input, and I look forward to seeing more.

@Caleb Heimsoth that sounds like the smart approach, and similar to what I’ve been thinking lately. Might look for more opportunity for appreciation in the houses i move into, but cash flow and loan pay down are probably the smartest choice for the rest.