re: Generating Multiple Revenue Streams

Honestly, just getting started. My brother and I work as a team (we are both in corporate finance- he is a controller and I'm a sr corporate accountant) so we have the exact same approach to investing.

He closed on a property in December that is completely in his name, I closed on one a few weeks ago that is in my name. Our total costs for each were about the same and our goal after living in them for the first year is to eventually rent them out. We have roommates now to keep our costs down.

His condo was 100% ready to move in, we just got the floors cleaned and cleaned the bathrooms/kitchen ourselves. It is a 3 bed/2.5 bath in NOLA that we are confident we can get 1,550 a month for. He has a 15 yr loan 3%, after HOA/Taxes (assuming we lose the homestead exemption when he no longer lives there) our cost per month is about 1,200. We are hoping to net vacancies/repairs over the long haul with taht $300/mo spread and just avoid injecting cash.

Mine was a complete nightmare- had 30K in back property taxes/ a few grand in back HOA dues. It took forever to for the clowns in the gubment to get the title clear and pay it all off. The old tenants left the place a mess and I am putting in ceiling fans, blinds, and some new flooring in some areas myself. It is 3 bed/2.5 bath but doesn't have a fenced in private yard/pool in the complex like the first property above so we think we can conservatively get 1,400 a month for it. I have a 30 yr, 3.9% (couldn't get a better loan anywhere- it is a "non-warrantable" condo). After I move out in a year and rent it, our total costs including HOA/Taxes/insurance etc are going to be about 1,100 a month.

For each one we put 20% down. Our plan when we eventually convert them to rental is to true up each other on what we each paid and then be 50/50. We are already looking at a 3rd place, since our dad has an apt and we found another really cheap foreclosure in NOLA. he said he'd be a tenant for life and we would charge him total break even. If this works out, we feel like the fmv of the 3 properties is right at $450K. We will have invested about $95K. Since they should all be self-sustaining over the life of the loan, in 15 years, we expect to have$450K in property with only investing the $95K.

All conventional loans with personal downpayments*