All Forum Posts by: Watson Hilaire

Thanks @John Arendsen. I hope you land the multi family investment.

Hello @Wesley Pittman,

Congrats on the first purchase! Instead of getting a house on wheels, consider renting out two rooms of the unit you will be living in instead of one.

Good luck!

hello @Christopher Gingras,

You don't need a business to do section 8. Go to www.gosection8.com for more info in Landlord section.

Hopes this helps.

I am in contract to purchase 2 bedroom 1 bath townhouse in Burlington NJ for $20k all cash. This house is about 15 min from my rental in Willingboro NJ. It will rent for $900-1000 a month and needs about $5k to be rent ready. If I had another $40k I would purchase two more. My plan is to milk this cash cow forever, do $40k cash out refi in 6 mouths, use the money to purchase multi family properties. Forgot taxes pluse insurance is $317 a month so will cash flow between $583-$683 ($6,996-$8,196 annually).

@Tomas Calvino how long do you wait depends how soon you want them out. I had a tenant lose his job in the middle of lease and was late on current month rent. I told him if he cleaned the house and was out by the end if the month I would deduct $1600 for current month rent from his $2400 security deposit, refund him the $800 balance and not seek judgement for the remaining lease balance. He was out five days before the end of the month and the home was clean.

@Eric Hathway your homeowners/landlord insurance should cover the repairs. Landlord insurance would also pay you the rent while your tenant pays for an extended stay hotel during repairs. Tenants would pay for the hotel since they are not paying you rent.  As for tenants hopefully you required them to purchase renters insurance. Renters insurance would cover their belongings.

Hope this helps. 

@Michael Hartman rent is $1,000 then gross monthly income minimum $3k.

Hello @John Arendsen,

I used to be a proprietary trader for major Hedge fund in NY. If I had a million dollars I would use $200k to open a margin account at interactive brokers. They would lend me $1million at around 1.63%.  I would invest the money in high yield under valued companies and collect dividends. Basically this is an interest spread strategy. I would purchase Put options to protect my downside. 

I could make $90k annually off the million which would be close to 50% return on my $200k. 

The remaining $800k I use to purchase value added apartment complexes here in Texas. Basically I would use it as down payments for hard money loans to finance purchase and rehab of large apartment complexes then refi into lower rate longer term while pulling invested capital out. I hold on to these properties for long term.i would just repeat this process. 

Thanks!