All Forum Posts by: Walker Seid

I would say you should pick an area that you want to focus on and research it as much as you can. I think it is a good idea to have all of your properties in the same area. If you are an out of state investor you might want to look for properties that are newer and will have less issues. You also might want to use property management. My rentals are 1,900 miles away from me but they are close to family. I go there a few times a year and can have someone do a drive by if needed. It can be challenging but it is doable. Good luck

@Jedd Braunwarth For me I am currently buying single family rentals. They are in nicer middle class neighborhoods. I am doing this because I don't have time to deal with issues and trouble tenants.  I am buying newer houses with less maintenance issues. I am attracting stable families vs. young adults with roommates. I live 1,900 miles away from my investments so that is key for me. If I have an issue I can call a handyman and have the tenant let them in. I will be moving back to the area I invest in about two years. At that point I will begin buying multi family. Its not ideal for the time I have right now. When I buy a property I try to have all of the repairs taken care of by closing. I advertise the property before closing. Then I get a lease signed when I fly in for closing. I have my realtor do all of the showings of the property to the prospective tenants. Its working well so far. We will see what the future holds.

I think taking as much time as needed to be profitable is the key. If you are not thorough you will lose in the end. I find value in knowing some things take more time than others. If you come to the right conclusion you are really not wasting your time. At the same time if you think the upside is too small for the amount of time it takes to make it happen then its probably not worth your time.

You could buy a house rent to own. You would only have to come up with 5k but you would pay 7% interest and have to be able to qualify for your own financing within 1-3 years. You would probably not be able to cashflow depending on the property. But if you want to buy two houses with 10k that will work.

I would also look at which one takes better care of the units. Might be less future problems. 

Good for you. Take Action. The sooner you get started the better. This is a great site for all real estate investors.

that's a bad day

I think it depends on what tax bracket you are in. I don't care about the penalty because in the end it will be more than covered.i think if you are in the 28%tax bracket pull it you will pay taxes on it eventually

Read every real estate book you can and take action

Get a usda loan no money down. I'm not sure if you can buy multi family that way. You will need to research it.