All Forum Posts by: Ryan Evans

On top of buying stocks, I do a little investing in a real estate startup. It's close to the real estate world I love, but a whole different business model :) 

Geeze! And I can't believe how many agents even in the hot market I'm in won't pick up the phone even for things like setting up showings or answering questions about a listing.

I'm curious, what's the price point of these properties you're talking about? The higher end market agents you'd think would be quicker going after the big commissions. But I know agents in the sub 100k markets who don't put much effort into taking listings that will only put a couple thousand bucks in their pocket

It would help if you provided a bit more information. And it's also relative to what else is on the market, so this could be a great deal or a terrible deal, depending on which neighborhood/street it's on.

What do your expenses consist of? A lot of people neglect things like utilities that the owner pays, vacancy, deferred maintenance, management, and the higher interest rate that commercial loans carry. 

But as the others have said, this isn't even hitting the 1% rule, so that's going to be tough to make it work above 500k.

Find someone who has a good track record for flipping and learn the ropes from them. If you're fully starting from scratch, you're likely in for trouble. 

Work out a deal to get your hands dirty rehabbing a project on someone else's dime and have them teach you the financials and business strategy along the way. 

It's shocking that people continue to use this company. Most people look up reviews when they go out to eat or buy some new toy on Amazon, yet don't simply search for reviews when using a new company to BUY A RENTAL PROPERTY! 

I mean, in the top 5 google results of "morris invest," there are a ton of case studies on exactly why you should not use them. 

It's sad to see so many people getting duped by these guys, but what do people expect when doing zero research on a purchase of tens of thousands of dollars? 

I think that really just depends on how much you're willing to be under market for the sake of convenience vs the fact you could be making more. If the house is going to need lots of updates/repairs it might take a while to recoup the cost and could be worth doing only a smaller rent increase. But if it's in good shape like you say, then hopefully you wouldn't have much trouble finding another good tenant if they did decide to leave. 

If you've been on good terms with the tenants they should be understanding when it comes time to have the rent raise conversation. 

And count your blessings while you can because at least you have the ability to raise rents. Seattle is stripping away landlords control to do almost anything these days. haha 

I'm not even sure what's going on here anymore :0 

Guys, I'll save everyone some time here. This poster is either full of it or just spamming the site. 

For starters, there's no way this deal is legitimate. 

Second, Lamy, you started a thread months ago about buying a 6 unit building and are now saying that this is your first apartment purchase. What's the deal here? 

https://www.biggerpockets.com/forums/311/topics/48...

And for the record, you posted about owning in east Cleveland, which most here would consider a war zone. 

Goals are great and all, but no need to hype yourself up with all this. Your goal should be to buy your first property and go from there. More than likely everything will change after that. 

Why would you get a property manager for a first duplex you live in? 

And to your 6th point, you can only have 1 active FHA loan.

Don't overthink it. Just save and buy a property when the time comes or get creative and partner up! 

Yep, might as well take it with you. There are plenty of good markets out there. Might as well find one a bit closer if most of the other factors are equal!