All Forum Posts by: Quentin Jivery

@Quentin Jivery

with small multi you have to be sure you're factoring in all expenses.  with a single family home you can typically shift more to all of the expenses to the renter.  with small multi, that is sometimes impossible.  some things to watch out for - 

-utilities that aren't split

-yard upkeep / groundskeeping / snow removal

-additional wear and tear on shared facilities like entrances and laundry

-parking

if you're cash flowing $200, but you forgot to factor in utilities that cost you $200 a month... now you're breaking even.

@Zach Wagner

you said you want to buy "very distressed properties that I can buy all cash via private money lender"

I am not saying this can't be done - just that it's going to be very challenging to do from thousands of miles away

and very expensive... you can't borrow 100% of the purchase, 100% of the rehab, 100% of the closing costs, and 100% of the holding costs

you need cash

Some ideas:

1. Get your real estate agent's license while still in school 

2. Try to rent apartments & maybe even work for a team that does a sale | Maybe get a w2 job in Real Estate and do this on the side

3. Investing in other (non NYC markets) where the money you have can go a longer way and there isn't as much red tape to trip you up

4. Find a market (not NYC) that you really want to know... try to find some off market deals and either raise money or wholesale

5. Rinse repeat and keep reading

Good luck! 

I don't have access to the MLS as far as I know. I believe you have to be an agent to do that. I search on Zillow, Realtor, etc. If I find one in a market that meets my criteria I take and analyze it myself with rough numbers, using one of the calculators provided here. I'm in the process of searching for a rockstar investor friendly agent that can use their knowledge to help narrow my results and be the start of my team.

 Im just starting on my investment journey. So I have yet to get a property under contract. Im doing as much research as I can because investing out of state can be risky. However, I'm willing to make the sacrifices necessary for a positive outcome.   

@Quentin Jivery no, it won't build up capital.  It will build equity.

Just found this from a quick internet search. If you invested your money into real estate in Oregon anytime in the past 10 years you would have done well.

According to Neighborhoodscout, Oregon's median home value is around $455,505. The real estate appreciation rate in Oregon in the last twelve months has been 20.02%. In the last two years, it has been around 31.25%. The cumulative appreciation rate in the last decade has been around 127.68%.

 I would point you to my long piece on due diligence. I think you'll find that helpful (or at least hope so): https://www.biggerpockets.com/...

@Christopher Piazza, I recommend you read Scott Trench's book, "Set For Life" and familiarize yourself with house hacking. Moreover, what do you want to do in life? To be upfront, it's difficult/nearly impossible to jump into real estate investing full-time. For your practical/boring but basic advice; secure W2 employment once graduating from college, build your credit, save religiously, limit unnecessary debt, etc. To reiterate, I would definitely advise researching house hacking in your market. It can be a powerful investment strategy when building your portfolio. Lastly, visit and stay connected in the forums. Hope this helps! 

You can still try for a BRRRR, you just need to be patient and have a fair amount of cash.

House hacking is the best way to get started.