All Forum Posts by: Tim Y.

Thanks @Randy Janoe. Actually, I had been excluding condos from my searches...not sure why, but I have been. Is that what you invest in?

Like a lot of newbies, I suppose, I'm struggling with choosing my strategy. Ideally, my model would be 3bed, 2 bath SFRs that could rent for $1K a month or more and that I could purchase/fix-up for $75K or so. But I have trouble finding those near me (I'd prefer to build a portfolio within an hour). I'm in southern VA, about 50 mins south of Roanoke and 75 mins north of Greensboro and Winston Salem.

20 mins from me is a blue-collar town with lots of homes available for under $40K. But rents in that market would be closer to $500. Still, you could easily beat the 1% rule, but, then again, how much cash flow can you really make if the house only rents for $500?

I guess I'm wondering if anyone does well focusing on areas where rents are only in the $500 range, or if I'm better off going elsewhere to get rents $1K and up.

Thanks Thomas. Like I said, just trying to figure it all out. I like being debt free, but I see how that may get in the way of my goals. Then again, an income fund isn't going to achieve that goal either.

Matt - Thanks for sharing that.

My goal is to find the best way (for me) to create a portfolio that produces $4,000/month in NOI. I have about $300K that I'll be able to put toward that. I'd rather just use my money and pay cash rather than mortgage, but not sure if that'll be possible to get to my goals with cash alone.

I don't mind playing the property manager role for the next decade if the properties are close enough. Right now my head is just swimming with the different strategies. One day single family sounds great to me for ____ reasons, the next day duplexs/tripliexs sounds great because ____, then the next day a small apartment building does. I just want to nail my strategy before pulling the trigger; normally I'm the opposite as I'm more of a ready, FIRE, aim person.

I have money to invest but I'm taking time to formulate my strategy for investing in rental properties.  I live in a very rural area...southern Virginia. In my world, Roanoke and Winston Salem are very large cities.

I live in a town that doesn't even have a gas station. Nothing. I'm wondering if anyone has attempted a strategy of buying rural properties for either rentals or owner-finance income deals, or if it's a "must" to look in populated areas? For me, that would be Roanoke, Lynchburg, Greensboro, Winston Salem, etc.

Look forward to hearing your thoughts.

Thanks @Lane Kawaoka. Appreciate the tips.

Thanks for all the tips. I'm at the early stages where every idea kind of sounds good, though where I find myself having most of my inner debates is between finding a way into mobile home investing or small apartment investing.

Any tips on the best places to look for small apartment opportunities or getting into mobile homes? 

@Marvin McTaw - thank you...I'll study the BRRRR strategy. I like the idea of multifamily as that's what felt right to me. Given my situation, what does that mean to you? A number of duplexes to start (spread over time) or a small apartment building?

Hello all,

I've been enjoying reading the threads. I'm new to rental properties and exploring strategies to produce additional long-term retirement income. I own my home outright and could deploy up to $250,000 cash against opportunities. My goal is to generate produce net rental income in the $3,000 per month range.

Given that, I'd appreciate hearing your thoughts on how you'd proceed, based on your experience. 

• Set criteria for single family units and acquire one at a time?
• Acquire multi-family smaller units (duplexes)?
• Look for a small apartment building?
• etc.

I know it's vague. I'm committed to educating myself and have enjoyed reading Brandon's book. Just looking for nudges in the right direction.

Thanks for listening and sharing.