All Forum Posts by: William S.

@Joseph Schweizer

I will never do out of state rentals again. I have hired various property managers and too many things can go wrong. You need to be on the ground and involved in my opinion. I used to be a believer of not self managing, but this is your business. You cannot be hands off. I may have only done this for a few years, but I’ve had a lot of insane things happen!!!

@Ilmar Molder, sr.

I do not have experience in tax deed sales. My rentals were purchased in a conventional manner with a realtor.

@Erik Berg

None! I have done both local and out of state. It’s not just about the numbers on the spreadsheet. Operations and management are critical. These will dictate your profit and stress level. Local only.

I once started out on this site asking tons of questions. If you’re starting out feel free to ask me questions and I will answer the best I can. Below is my experience for context.

Experience

- 6-7 years

- Single family rentals

- Duplex house hack

- Renovating

- Self managing

- Hiring property managers

- Out of state & in state rentals

I've seen some disaster loan options for rental property investors. However, all of them are for "small businesses." What options do we have if your rentals are not in an "business?" Bought in personal name, etc.

I'm seeking my license in KS and am looking for recommendations on the best in-person course. Any recommendations on which companies?

With rates still being low, or potentially going lower have any of you been refinancing? Not because your doing BRRRR, but lets say you bought a rental with the standard 20-25% down a few years ago, value went up some.

@John Warren

Can you provide more details on the equity? Are you saying you completed a cashout refi on the single family rentals to get into apartments?

My fiance and I have house hacked a duplex in the past. It was a high end duplex in a great area and required little to no work. We hardly ever heard our upstairs tenant. Sometimes we forgot we lived in a duplex. I took care of anything that came up as well.

Since then, we have moved out of state and are once again talking about where we should buy or if we should... I mentioned to her that I want to pay $0/m for my living expenses (mortgage, taxes, insurance). I initially suggested getting a fourplex and putting down 3.5% down to cover all of the costs, plus have property management in place. Yet she refuses.

She wants "our own place." I want "our own place" at $0/m.

House hacking and rentals seem to be not be an option for her to offset the cost. Does anyone have alternative ideas to offset this cost? Any other income sources that does not intrude on our lives? My initial thoughts were REITS/Dividends, but that requires a lot out of pocket. A fourplex 3.5% down is the best bang for the buck in my opinion.

This next home is going to be purchased 50/50.

@Hector Martinez Rosales

Post some more details

• Sq ft
• # of Bed/Baths
• Projected Rent
• Rehab estimate
• etc...