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All Forum Posts by: Zachary Rymarcsuk

Zachary Rymarcsuk has started 7 posts and replied 52 times.

Post: What are your goals for 2021?

Zachary Rymarcsuk
Posted
  • Rental Property Investor
  • Durham, NC
  • Posts 52
  • Votes 44

Add 2 new rental properties to my portfolio, each cash flowing $200+ per month.

Post: Investment Opportunity in Texas

Zachary Rymarcsuk
Posted
  • Rental Property Investor
  • Durham, NC
  • Posts 52
  • Votes 44

@Jay Kumar

I am not currently investing in Texas, but have a contact who is.  They might be a good contact for you.  Please feel free to DM me if you would like for me to get you in touch with him.

Post: Young & Determined Investor

Zachary Rymarcsuk
Posted
  • Rental Property Investor
  • Durham, NC
  • Posts 52
  • Votes 44

@David M. Arruda Jr.,

Great start by posting on here and best of luck obtaining your goals! I wish I had "caught the bug" as young as you have! I am now 31 and just recently got started in REI. My goal is to be financially free by 40. If you've already read some books to get your mindset in the right place, my advice starting out would be to find some potential properties on Zillow and check out the rental evaluation calculator on Bigger Pockets to get an idea of what numbers work. While doing that (if you aren't planning on paying cash for a property), get ahold of a few banks or other potential lenders in your area and see what type of loans they would approve you for. A realtor could probably provide you with some good options for lenders as well, if you are planning on working with a realtor.

Best of luck again and let me know if you have any questions about how I recently started out.  I am more than willing to share my ups and downs!

Post: Cashflow or Cash on Cash Return?

Zachary Rymarcsuk
Posted
  • Rental Property Investor
  • Durham, NC
  • Posts 52
  • Votes 44

@Jonathan Edmund

I would go the 20% down route for reasons that others have mentioned, mainly that you can recover your cash more quickly that way and that you would have additional money available to invest in another property if you would so choose.  Doing so, you may be able to double that monthly cash flow, coming up with the same total monthly cash flow, but building equity (and possibly appreciation) in multiple properties rather than just one.

Post: Should i sell my home?

Zachary Rymarcsuk
Posted
  • Rental Property Investor
  • Durham, NC
  • Posts 52
  • Votes 44

@Marcos Urvina

Have you considered house hacking?  Assuming you're talking about renting an apartment rather than purchasing an apartment complex, I don't think that's a great idea, since you will not be building equity.  If you would consider living in something like a duplex or triplex and renting out the other units, you may be able to use the rent for mortgage paydown and thus build equity with little (or none) of your own money invested.

Post: First Tenant..Operating at a loss.

Zachary Rymarcsuk
Posted
  • Rental Property Investor
  • Durham, NC
  • Posts 52
  • Votes 44

@Bruno Mauro, as a couple others have mentioned, if it is an area that expects appreciation, then operating at a slight loss now may be offset by mortgage pay down and appreciation.  If you are not going to feel strained due to that $69.41/mo loss over the next year, I think it is better to hold onto it...again, provided you expect decent appreciation.  As others have mentioned, there is potential for the rent to go up as well, depending on the rental market, so it may very well become a positive cash flow property within the next year or two.

Out of curiosity, how old is the home and how much do you expect maintenance, repairs, and capex to cost over the next few years?  You had said that you're not factoring in those costs, which can be a big hit to the books.  If it is older and going to need a good deal of work, maybe it's best to sell.

Post: Financing Vacation Rentals

Zachary Rymarcsuk
Posted
  • Rental Property Investor
  • Durham, NC
  • Posts 52
  • Votes 44

@Dawn Marie, I have not done this....yet, but would love to see what others have to say, as this is a market that I am very interested in as well.  I am currently under contract on my first LTR. =)

Post: Fayetteville, NC Investing

Zachary Rymarcsuk
Posted
  • Rental Property Investor
  • Durham, NC
  • Posts 52
  • Votes 44

Hi @Jeremy Absher!

I am closing on a SFH LTR in a couple of weeks, but am also interested in STR in the area. I have been told that both near base and near the hospital are good areas for STR.

I highly recommend Bobby with Trailwood Realty in the area.

Is there any certain size home that you are looking for?

Post: Who's Buying Properties in North Carolina?

Zachary Rymarcsuk
Posted
  • Rental Property Investor
  • Durham, NC
  • Posts 52
  • Votes 44

@Donald Loftin

Great! Best of luck to you!  What got you started?

Post: Do I need 24 months of work experience?

Zachary Rymarcsuk
Posted
  • Rental Property Investor
  • Durham, NC
  • Posts 52
  • Votes 44

@Ivan Loza

I hear ya!  Being an engineer, I often work 10-12 hour days and, having a 45 min drive each way to and from work, there isn't much time left in the day aside from while eating.

That's great that most of your clients are ready to put in an offer when viewing homes.  It seems that online pictures often end up being quite deceptive, as I have seen great pictures online and found the home to be fairly trashed when visiting in person.  I know of a house that received multiple offers site unseen recently, which I feel like I could never commit to.  Do you have clients who do that?