All Forum Posts by: Tess Robinson

@Tarl Yarber 

@Mike Robinson & I are so excited about tonight! We've already RSVP'd on Meetup & prepaid to avoid the line at the door!!

@James Wise ... I think I just threw up in my mouth after looking at your pix! But I want to play, and I didn't see any guesses on the kitchen.... did they lay down cat food to attract all the neighborhood cats? And what is up w/that toilet?? Is it burned? And the tub.... is something floating in there?

@Mike Robinson - Some thoughts on those lower priced MFH's we were discussing.

@Mike Robinson

Rob... Where exactly is the Republic of East Cleveland? I looked at a 4plex around Slavic Village and was told it was a very bad area, but being from WA, I'm not sure. My husband and I are looking to buy in NE Ohio. I grew up in Ashtabula, but haven't lived there in many years. I think you and he are on the same page re: cash flow making up for neighborhood, but I'm a Nervous Nellie!

...

@Mike Robinson and I are also checking into this area, including all of NE Ohio... We'd be interested in trading info!

Looks good enough for HGTV! :)

@Denise Chavez.. Congrats on $20K at 18YO! Good job! I would echo what all the folks above have said, and I would also add, I have heard that Vegas MFH's aren't in the best areas. Keep that in mind when deciding whether or not you'll be living in the property (house hacking) and managing it yourself. 

A first time FHA loan should get you in the door of a 1-4plex w/3.0-3.5% down, and some programs let the Seller pay some or all of your closing costs. A SFR might work for the interim; move in now, and wait out the year. I used to be a Realtor in Vegas in the 90's, and I remember that a lot of houses had Mother-In-Law suites in them. This could be a way to get a "duplex" by buying a SFR!! Then you can continue to save money & use the equity in your property to buy the next.

The other thing I would add is for you to network! Look for meetups of like-minded investors. you can find them on here, or on meetup.com. See if you can find partners.

Keep studying BP... watch the podcasts... read the books... learn the ins & outs!

Above all - make sure the numbers work. Each deal is different.

@Mike Robinson

Good info here.

Congrats, @Joseph Cornwell! 

Hi @Christen G.... how are you finding your MFH props in Tacoma? 

Are you using the MLS? Because the properties that we've reviewed (sent by our Realtor) haven't passed the 1% rule! (Total rent should equal 1+% of the purchase price)

Or are you getting them off-market?