Alright, Fastlane Forum. Quick introduction here, and then we'll get to the fun part. First read TMF back in 2012, and I realized that I wouldn't achieve my goals by slowly climbing up the corporate ladder. Action faked for a while, and then I fell into the corporate trap for a few years, as I started to get comfortable with the regular raises, nice dinners I could expense, and the relief of the weekends. Finally realized in late 2016 that I was not going where I wanted to at all, and I decided that it was better to start slowly than continue to not start and wait for some inspiration to strike. I decided to start investing in real estate with my brother, as there will always be a need for places for people to live, and we have some past experience in it.
We bought our first townhouse in March of last year, and we've recently acquired another two of them. We are working to find value-ad properties that we can improve with cosmetic upgrades and then lease out- focusing on cash flow with any appreciation/equity as a happy byproduct. While townhomes come with HOAs, we've found some well-run developments with relatively low monthly costs, and it reduces volatility by not having to worry about landscaping, unkempt yards next door, etc. We also try to put in materials that will last longer than the lower-end materials used by other townhomes for rent in those developments, which allows us to not only rent our properties for more, but it will also help reduce turn costs, since they should last longer.
I'll keep track of my progress on this thread, and I'm happy to answer any questions anyone might have. Hopefully can provide some value here after years of (mostly) lurking. Thanks!
We bought our first townhouse in March of last year, and we've recently acquired another two of them. We are working to find value-ad properties that we can improve with cosmetic upgrades and then lease out- focusing on cash flow with any appreciation/equity as a happy byproduct. While townhomes come with HOAs, we've found some well-run developments with relatively low monthly costs, and it reduces volatility by not having to worry about landscaping, unkempt yards next door, etc. We also try to put in materials that will last longer than the lower-end materials used by other townhomes for rent in those developments, which allows us to not only rent our properties for more, but it will also help reduce turn costs, since they should last longer.
I'll keep track of my progress on this thread, and I'm happy to answer any questions anyone might have. Hopefully can provide some value here after years of (mostly) lurking. Thanks!
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