All Forum Posts by: Taz Zettergren

@Dillon Clark welcome to the forums Dillon! I started out house hacking prior to getting married. I renovated the home while 3 of my friends lived with me and paid my mortgage. After getting married my friends moved out and my wife and I expanded into rental properties. Things definitely change once you're married but if you don't have any kids and your wife is open to it you may want to try finding a duplex, triplex or quadplex to buy as a primary. You and the wife could live in 1 side and you could rent the other doors out. Not only would it decrease your monthly mortgage but you'd be able to get into it with a very little down payment since you'd be living in one side of it. 

Another thought, with you being in construction, at some point you might want to look at building homes or multi families. You could build a new one every 2-3 years and move into it as a primary so the bank would be more friendly with your loan. By the time you do that 4-5 times you should be able to have a paid off home or excess funds to invest in other assets. Just my two cents, best of luck on the journey! 

@Shayan Sameer I don't have any experience in Ohio but I've had a ton of my clients be successful here in the southern/middle part of the country. Places like Memphis, Little Rock or OK are great spots to look and 200k will be plenty. 

I would be cautious chasing the 1% rule, a lot of the time it puts you into less desirable neighborhoods or into properties that haven't been completely renovated. Personally I prefer homes around that median price because that's where the most demand will be not only for owner occupants but renters as well. That typically puts your rent to sales price around .75-.8 ish give or take but these areas tend to appreciate more consistently from what I've seen and the rental clientele is more consistent. 

Best of luck on the search! 

@Shushyam Malige Sharanappa Premier Property Management Group manages mine and has done a great job. DM me if you'd like for me to connect you with them and I'd be happy to

@Christian Houston-Floyd welcome to the forums! Huntsville is a challenging market given the price points but I've had clients find good success in the suburbs. I'd recommend staying within 10-15% of the median priced home because that's where the most demand will be not only for renters but owner occupants as well. 

@Account Closed welcome to the forums! Memphis is a great place to invest, I'd also recommend areas like Little Rock, DFW, Houston or Oklahoma. These are great places to invest where prices and rents are favorable as well as the landlord laws. 

I'd try for the $1600 at first see how they react then readjust accordingly if need be. Maybe offer a 2 yr renewal with $1500 yr 1 and $1600 yr 2 or just a one year renewal with $1600 in rent

@Charles Evans congratulations on making the jump! This is the best way to get into home ownership and real estate investing in my opinion. I did the exact same thing 5 years ago except it was a single family and I rented the rooms out to friends, now my wife and I have built a portfolio of 10 homes. Best of luck on the journey and be sure to bump those rents next renewal! 

@Denise Lang welcome to the forums! If you are looking to passively invest I would recommend finding a company that is vertically integrated so you have one main point of contact from start to finish. There are companies who buy homes, renovate them, place a resident in, sell the property then manage the property as well on the back end. For those that don't have the time or resources it's a great way to passively invest.

Now if you want to be more active there are agents who can help you scale with the right teams in place. Either way you chose to go I would definitely recommend the southern/middle part of the country places like Texas, Tennessee, Arkansas or Oklahoma.

@Jonah Gunalda welcome to the forums and congrats on the first post! Always love seeing fellow Mississippians on here, I'm in Nesbit but am from Senatobia. I spent quite a bit of time in the Jackson area playing MRA, JA and Prep back in the day. Personally I'm not a fan of syndications simply because there is absolutely 0 say so and what you can and can't do. I'd prefer to own the asset and partner with someone who can manage the asset so it's completely hands off. There are companies that buy properties, renovate them, place a resident in the home, sell to an investor then property manage for the investor as well on the back end. It makes for an extremely passive way to invest in real estate but at the end of the day you do have the say so on what happens at your property. 

Or if you have an investor friendly agent they can help identify properties that are in very good condition and link you to a property management company. While it's not as passive as working with companies like I mentioned earlier it's still a great option. Feel free to reach out if I can be of any assistance. Best of luck! 

 Crime is still a problem in certain areas but if you stay in the suburbs that's where the most demand is so typically farther east and either south or north will get you into safer areas. Little Rock and OKC are the capitals of each state so there's a ton of government jobs that provide a strong level of security because we all know those jobs aren't going anywhere. Of course there are several other economic stabilizers within each market. 

Feel free to reach out if I can be of any assistance!