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Posted on 9/7/22 at 10:51 am to lsuguru
Lnobles@redstickcapital.com is mine if you have any questions.
Posted on 9/7/22 at 1:44 pm to glorymanutdtiger
quote:
I have never done any real estate.
I want to rent them through property management.
For a newbie…
I'm not good with fixing things.
I’m very timid when it comes to taking risks
Let me start by saying that I’m very pro real estate investing. I started in my early 20s and that decision changed my life. I also try to be a positive person and don’t mean to be critical or a wet blanket. So I’m going to try to put this gently: given what you said in this post, maybe you should give some deep thought to make sure real estate investing is really for you. But good luck, whatever path you choose.
Posted on 9/7/22 at 4:22 pm to TheOcean
How can you lose your arse in MFH vs SFH? Serious Question, not being sarcastic.
I own MFs and it's more lucrative and safe for me being that it only requires part occupancy to cover the mortgage. I own both SFH and MFH, but all of my recent moves are towards MFH.
I own MFs and it's more lucrative and safe for me being that it only requires part occupancy to cover the mortgage. I own both SFH and MFH, but all of my recent moves are towards MFH.
Posted on 9/8/22 at 9:45 am to southside
Im 37 and have kicked around the same idea for the last 10 eyars. Here are the reasons I decided (for myself) not to do it:
- it seems like a full time job
- your at the whims of potential low life scumbag tenets
- hurricane could take you out
- Capital tied up / illiquid (vs say a REIT where you can cash out in 1hr)
- Real Estate at multi decade highs (bubble should pop if interest rates go up)
Just my 2cents
- it seems like a full time job
- your at the whims of potential low life scumbag tenets
- hurricane could take you out
- Capital tied up / illiquid (vs say a REIT where you can cash out in 1hr)
- Real Estate at multi decade highs (bubble should pop if interest rates go up)
Just my 2cents
Posted on 9/8/22 at 10:20 am to glorymanutdtiger
The most successful property I own currently is 2 older 4 plexes.
low income area. Cash flows $4400/mo. 30 yr mortgage is $1836 for both.
Multi-family is the way to go folks.
ETA: It could easily cash flow $4800 consistently. I've just honored some longer tenured tenants rent ($500 when everyone else pays $600).
low income area. Cash flows $4400/mo. 30 yr mortgage is $1836 for both.
Multi-family is the way to go folks.
ETA: It could easily cash flow $4800 consistently. I've just honored some longer tenured tenants rent ($500 when everyone else pays $600).
This post was edited on 9/8/22 at 10:22 am
Posted on 9/8/22 at 10:38 am to lsuoilengr
quote:
- it seems like a full time job
It's not. I've got 14 doors. The return on time is well worth it.
I manage my own properties. With a property manager, it becomes even less of a full-time job.
quote:
your at the whims of potential low life scumbag tenets
You have screening processes for this reason. i.e. back ground checks, references, income verification, etc.
quote:
hurricane could take you out
You have insurance
quote:
Capital tied up / illiquid (vs say a REIT where you can cash out in 1hr)
Many, many options here. You can establish credit accounts or borrow against equity in properties. Not to mention you have steady cash flow.
quote:
Real Estate at multi decade highs (bubble should pop if interest rates go up)
Don't disagree here. There are still good deal out there, but takes more due-diligence to find them. But yes, in this market, the good deal will not be found on Zillow, etc. Sheriff Sale is one example that is a good means of finding deals.
quote:
Im 37 and have kicked around the same idea for the last 10 eyars.
You've been thinking about this for a decade. Pull the trigger man. You'll be happy you did.
Life is FULL of risks. If you owned 10 properties that were paid off by the time you're 55, you'd be set for the rest of your life!
Posted on 9/8/22 at 11:22 am to lsuoilengr
quote:
- it seems like a full time job
- your at the whims of potential low life scumbag tenets
- hurricane could take you out
- Capital tied up / illiquid (vs say a REIT where you can cash out in 1hr)
- Real Estate at multi decade highs (bubble should pop if interest rates go up)
- your at the whims of potential low life scumbag tenets
- hurricane could take you out
- Capital tied up / illiquid (vs say a REIT where you can cash out in 1hr)
- Real Estate at multi decade highs (bubble should pop if interest rates go up)
I was very hesitant to get into this 12 or so years ago with much the same reservations as this. My wife almost forced me into it and I now clear 3x my salary than my day job on just rental income. It’s not for everyone but it worked for me. If you look at downsides too much you can be scared of doing any investing.
Posted on 9/8/22 at 12:23 pm to Camp Randall
So how many times have you had to come out of pocket on your rentals? Ie to cover vacant months, or an HVAC surprise etc etc.
That’s always my fear - long term vacancy although it seems like the rental market there’s always a tenant there for decent properties.
That’s always my fear - long term vacancy although it seems like the rental market there’s always a tenant there for decent properties.
Posted on 9/8/22 at 1:29 pm to Im4datigers
I’ve bought a few window units for sure. There are maintenance costs but nothing crazy unless it’s the initial remodel/refresh after purchase. A washer/dryer, fridge.
Long term vacancy isn’t an issue in residential stuff that I have.
Long term vacancy isn’t an issue in residential stuff that I have.
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