re: Information for my fellow Real Estate Investors

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What has been your strategy/success in finding off-market properties?

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While i cannot disclose everything all i can say is you need to network, build leads, contacts, with lenders, insurance salesman, and especially with PM's nationwide. You'd be surprised how many of the above i listed will start contacting you or point you in the right direction. All of the above are working with RE investors and they have contacts also they can share with you especially if you do business with them. I have 4 ways(options) right this minute if I needed to sell any of my properties if needed.

I get offers weekly/monthly for my properties via mail and phone calls yet none are for sale. This happens with sharing information just like you networking.

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I see a lot posts about never paying off and continuing to grow. What about just growing to a point then sustaining?

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Theoretically if you are leveraged properly there is no reason to stop. You only gain from the economy of scale...

Property manager

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Right, but again my goal would be to get set up with paid off rentals and strictly manage them while collecting income from there.

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as long as you want that and can handle that. it is your choice. if you are going to pay it off for more cash flow just make damn sure is is more then enough to sustain. not just bare minimum. many i know who do not pay off ever as i have explained before and some start to pay off properties to lessen exposure but only once they have cash flow annually = to acquisition prices to allow it.

for example you make 5 units a year off X amount of properties. the average cost of one of your properties is 15 units. so you keep building with leverage until you have hit 15 units a year in cash flow. Then annually you may or may not begin paying them off 1 at a time in full as long as you have other income to support you.

If you did this with paid off rentals and you handled the PM full time, yes i think that could work. Develop a good team. Completely up to you.

here are new links.

I will also add to front page

Lima One Capital

5 arch funding

Fund That Flip

Forget all that BS..get in the real world..buy now guys..long term hold.

Thanks. So, you use LOC’s for down payments on properties you’re wanting to buy?

I thought about getting a heloc to add to some cash I saved to get a larger amount of rentals now vs over time as I saved more.

I decided on doing a cash out refi for a down payment on a pack of 11 houses tho. With the rates like they are I’m able to drop from 4 to 3% and I can keep the cash I had saved. I can pull out the full 20% down payment.

With that saved cash I can put enough in a emergency account so I can take profits right away. The anual profit will go to a large chunk to pay off the commercial loan faster over time, some for the extra 300/month my primary mortgage is going up, some for the extra income tax, and the rest for other non essential things.

What’s a good resource in determining how much rent you can get from a property you are looking to purchase? I don’t currently see any property in the surrounding area listed for rent but I’m confident there are properties that are being rented. Also can you tell me what kind of rent I should expect from a property based on its purchase price? For example if I a property that is 150k and annual expenses run 5k a year for insurance, trash pickup, grounds maintenance what kind of rent makes sense for this? What should my down payment be? 20%? What kind of maintenance figure should I assume? I have other questions but I’m just starting to look into buying a rental and am trying to learn the right way.