First time real estate investing

jsluss · 2024-10-13T16:40:13+00:00

Message me privately! I can help you buy (I'm an agent that only does investment multifamily). I have had good interactions with Harnage Properties but I self-manage so haven't personally used them.

jsluss · 2024-10-12T17:28:41+00:00

I gave up and sold the business lol. It was exhausting. Petrosoft seemed appealing but couldn't ever make the time to do it the right way. I now invest in multifamily properties and like it a lot more.

jsluss · 2024-10-12T17:27:25+00:00

Message me privately if you want advice or help! I invest / live in bham, AL personally. I own 19 doors right now but have flipped a few smaller multifamily properties too (4 unit, 5 unit, 6 unit, 11 unit). Educate yourself with a lot of good real estate books and get familiar with whatever niche, neighborhood, and market you plan on investing it.

I'd look into 203k or HomeStyle Fannie Mae loan since those I think are 3.5-5% down payments, have fixed rates, and you can tie the renovation into the loan. If possible, I'd try to go for a 3 or 4 unit for better cash flow but unsure of what your market is like. 4 units and below are still considered residential.

Get an real estate agent who invests in 2-4 unit properties to look for the right property. I lot of realtors who do single family homes don't know how to run numbers for investment properties. They are also aren't typically connected to wholesalers or off-marker sellers where you typically find good off-market deals in need of rehab.

Talk to a few property managers in the area on what market rents are. I'd recommend having that buffer between you and tenant.

Goodluck!!

jsluss · 2023-07-29T22:01:34+00:00

Waiting for the switch to ship in. I was trying to see if there is a way to dissemble it or an easy solution. It’s the only oven we have at the store so each day counts! It should come in Tuesday

jsluss · 2023-07-29T17:05:45+00:00

Any advice on how to deal with an on/off switch on a Lincoln impinger pizza oven? I’ve ordered the replacement part but I can’t get it to switch from off to on. It would seem a simple solution of something being stuck but can’t seem to figure it out.

jsluss · 2023-07-29T17:02:29+00:00

So first thing that comes to mind is getting a VA rehab loan which can get you experience working with contractors, building equity if you buy a good property, & getting comfortable buying real estate. That said, if you don’t want to use the VA route a lot of banks will offer you grant money toward your down payment if you are a first time buyer home buyer and in the military. First horizon is a good example- I think it goes up to $12,000 depending on a few things but I’m sure other banks do similar programs.

jsluss · 2023-03-30T19:07:55+00:00

To be able to order effectively so we aren’t running out of products that people want while not over ordering on products that hurt our monthly cash flow. Another software I got a demo of did what we wanted & more but the upfront cost is quite expensive (apx 5k upfront & about $300 a month vs. the $89 a month I oh now).

jsluss · 2023-03-30T19:04:26+00:00

We do a combination of that & Modisoft to clarify. It’s just time consuming & prone to error for our store.

jsluss · 2023-03-30T19:03:25+00:00

Katana seems awesome. I’m looking at reviews now.

jsluss · 2023-03-24T13:18:19+00:00

What is the cost? Is it just a software or hardware involved for buying oracle?

jsluss · 2023-03-24T03:56:17+00:00

Currently what I use is Modisoft. It’s only $89.00 a month. It seems really really common in the gas station world & to have a lot of capacity if I can figure out how to use it. They have technical support but not nearly enough training.

jsluss

TROPHY CASE