All Forum Posts by: Ron Burgundy

Hi everyone,

I am a new investor looking to purchase a small 5-10 unit apartment complex. There are not a lot of these available at the moment, so I'm getting very discouraged. 

Some people have asked me why I don't consider SFH? Please correct me if I'm wrong, but I understand there are some disadvantages with that avenue compared to MFH.

1. For SFH, one must continue to hold a full time job in order to qualify for mortgage and qualify for refinance (with a few exceptions). My goal is to eventually quit my day job, so this is not compatible with what I'm trying to do.

2. Very low cash flow per rental house (maybe $400 per house at the most). Not enough to make me interested. 

3. It will take a lot of time to lock down and purchase enough SFH properties to match what one small MFH would cash flow per month.

Please be honest with me. Am I wrong on any of the above? Thank you. 

Any other recommendations for this part of the country? Thanks. 

Hello,

I live in TX but looking at a few multi family properties in northwest Indiana. Can anyone recommend a reputable MFH  lender in that part of the state? Thank you. 

I've thought about doing some SFH flips to raise more $$$ but haven't found many good deals on that front yet. Still looking though. Thank you.

I'll check out the podcasts. 

May have to start looking at different states realistically. Is it even possible to get property mgmt to look after a small 5-6 unit for absentee landlord? Someone would definitely have to look after the building, tenants, etc. Thank you. 

Hi everyone,

I'm completely new to real estate investing. Only properties I have had before were personal residences. I want to start off in MFH as the small cash flow on SFH is not enough to make any kind of impact to the income I'm already earning from my full time job.

Ideally I want a 5-10 unit MFH in Houston metro that needs rehab, but realize that is next to impossible in my price range, so I'm looking all across Texas, too. I haven't found a deal that makes sense yet, and I know it will be hard to do with the limited resources at my disposal. It seems like there is a huge amount of competition. 

Right now I only have $80-$85K available to invest, with most of that being cash. I've got a realtor lined up as well as some financing. 

Not sure what to do from here. My goal is to quit my full time job in a few years, but feeling very discouraged that won't happen. 

Any guidance, wisdom, input would definitely be appreciated. Thank you. 

thank you 

Hello,

I am interested in purchasing a small apartment complex in Texas, but having a hard time finding a realtor who can help out. Does anyone have any good recommendations for experienced MF realtor in Houston metro? Thank you.