All Forum Posts by: Travis Frenchak

@Robert Crossley how long ago did you sign up? 

No Jason I never did. Not too many options around here.

It is my understanding that in order to invest on these sites you have to be an accredited investor. Is anyone investing on these sites who is not an accredited investor? If so how? Thanks. 

@Jeff B. so you only invest in 5+ unit properties? While I agree investing in 5+ unit commercial properties gives you many more options in regards to adding value, some areas just don't offer theses properties or they are priced out of reach for some. 

I'm definitely not advocating one way or the other. Perhaps I did not articulate my question correctly. Basically would you rather waste time to save more money for a larger/nicer property or as soon as you would have the money for a lower priced property do you go out and get one. Not advocating just looking for opinions.

Just looking for your feedback on something I struggle with. Would you/do you purchase lower cost (50-75k) cash flowing properties or would you/do you continue saving and purchase larger higher priced (200k+) cash flowing properties? 

You could purchase more lower priced homes quickly and build up your monthly cash flow. However I feel with those properties there is not much room for appreciation. 

While if you wait for more expensive properties that cash flow you have more opportunity for appreciation but you lose the time it takes to save more money where you could be cash flowing with lower priced properties. 

What are your thoughts? 

There is always fear of the unknown and I think media outlets portray a lot of unknown. Is there another recession coming? Will I lose my job? Will my credit tank if I lose my job and can't pay my mortgage? All of those questions lead to fear so its just easier to rent so if those things do happen they can adjust their situation from there. 

There are sheep and there are wolves, and there seems to be many more sheep today. 

if it were me I would not accept your offer. I suppose it depends on the sellers situation. When we did an owner financing deal we put about 40k down on a 115k property. 5 year bubble amortized over 10 years with a 4% rate. 

Our 5 years was just up and decided to pay it off. 

your whole offer only benifits you and puts all the risk on the seller. 

@Neil Beeharry Weather or not its a good idea to invest money up front depends on a lot of things in my opinion. From my understanding you have not purchased this property yet, so if it was me i would take into consideration weather or not this property is located in a hot area that may have good appreciation in the short term. Also weather or not this is a great deal. If neither of those I personally would not invest that kind of money into a deal that is average. But again that is just my opinion as there are a lot of average deals out there. 

If electric is separate maybe consider electric baseboard heat. Not sure how people view that on here but it looks like that will be the route we will go as we have 3 units all sharing a single furnace and our electric is already separate. It is fairly inexpensive but not the cheapest to run. However I'm sure our tenants won't have windows open and short sleeve shirts on in January anymore.