All Forum Posts by: Rocco Swinney

hi mike! I greatly appreciate your response and providing different routes on how to locate too. I guess my concern is im essentially going up against a more experienced investor (been a landlord 5 years now) who is already familiar with the property. And id assume (since they are an investor) they likely arent going to sell something that works for them.

Im probably overthinking this, but i would assume the deals come from an older investor who is nearing retirement and wants less headaches, divorce, etc.

Edit - wont let me fix. Common ‘Reasons’ why the mf property is for sale?

I know this is question greatly varies, but i only own sfhs.

It seems they are typically listed because the seller is moving, downsizing, etc.

I was curious from folks on here who own mfs - what are common reasons the seller sold?

This is something im interested in, but ive never really looked much into, as the seller would also be an investor (unless it was an estate or something) and figure they likely are selling for a good reason and know more than me (ex. tenants giving issues, etc.). 

It seems folks reach out to the owner even when not listed to find their deals. Ive never done that with sfhs, which i dont have anything against. So that maybe responses to this, which im curious why the person then decided to sell too

thanks

My thought is the market is overpriced, which starting about 4 years ago i thought that. Yet - it just keeps going up. I buy investment properties (which i have been even in the last 4 years) and blue chip dividends (i havent for a long time now). Ive missed out on some great opportunities in the market. 

Also, it seems crashes tend to be every 8 years or so. We are on about year 12 now. Some may say we recently had one, which recovered in about a month. Thats not really a crash in my view. But who knows. Whats your thoughts?

hi there! Do either of you know of any good property management companies you would recommend in the area? thanks

You have do whats best for you. It seem things are high now and the last crash has almost been 12 years now.

I do have a place under contract though. Im not as concerned about the price of it (i think its a good deal for today) since i buy for long term buy/hold. Im concerned about the pandemic rules being put in, extended, etc. As currently you have few rights if the tenant stops paying during this time.

I also purchased a few places shortly after the crash up until now. So that helps me too, as if I buy one at the top... at least i have previous ones that werent and more towards the bottom to hopefully offset my thinking (right or wrong)

Are you saying you currently max out your 401k and hsa today, but have high interest debt?

Saying you need 50k to get started on an investment property. Are you also factoring in the closing costs, likely 6 months reserves, and likely 2 months reserves on your primary

I imagine that one could get in trouble since its for an investment? As i did find a few places who didnt have anything restricting personal loans for investments... but most places did

I appreciate your response