All Forum Posts by: Ryan Porter

My first thought of advise would be to budget property management into your numbers when you are buying. Like you said, you do not want to change one job for the other. The entire goal here is to have more fishing time right? Sounds like a solid retirement plan, best of luck! 
I would love to show you what the Jackson Mississippi area market has to offer if you have time for a call sometime. We have amazing returns with high appreciation. 

I would go sit with your favorite lender and get them to tell you exactly the problem. Your DTI will need to carry the full amount of interest payments as if you drew the entire amount out. A good lender should be able to point out exactly how much you can pull, and how you could pull more with a few tweaks.

Welcome Robert, we share a few of the same goals.

I wish I would have learned not to listen to who I thought were "professional's" in the business. Lenders, closing attorneys, real estate brokers, agents, and inspectors. I was told so many things I couldn't do. I just kept asking why not, and found a way. 

I think being rushed without a good reason is the single one thing that will make me pass. I hate feeling like my due diligence can’t be done properly because of their haste.

I have been catching up on CE, updated my CRM, and doubled up on catching up with my past clients. Business is still moving along, just slower. This should be an interesting next few weeks. 

Unfortunately most of you guys share my view as well. Too many companies are figuring out they can get work done without the hassle of a brick and mortar. It will be up the the Cities to adapt policies and change a few ordinances to make the spaces usable. It was honestly coming anyway, this just will speed up that process. 

My best trick to finding a rental rate is to put yourself in the shoes of the renter. Drive around for a few days and look at the competition. In this case, I would pretend I had $1,500 to spend on rent. Which unit would you choose? Then drop the rate to where you would choose yours. 

I have had sold the first one I have showed more than once. Gah, then there are those others. It's not uncommon to show 40-50. It's almost hard to do an average because people are so different. I would say 10 or so though. 

I would find a good lender in your area to sit down and evaluate where you stand. If your DTI will sustain a loan, find one to flip. You will likely have to play general contractor and put sweat equity in.