On the BiggerPockets Real Estate Podcast, co-hosts David Greene and Rob Abasolo interview real estate investors and entrepreneurs about successes, failures, and hard-earned lessons. Through in-depth conversations, 1-on-1 listener coaching calls, and news analysis, you’ll get a breakdown of real strategies that work for different niches and experience levels. Tune into the #1 real estate investing podcast every Monday, Wednesday, and Friday.
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1306 - What I Learned From My First Investment Property by Samantha Hawrylack
Manage episode 417772268 series 2813754
Content provided by BiggerPockets. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by BiggerPockets or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.
My first investment property was a C/D-class multifamily in Houston. I selected it primarily based on perceived cash flow.
According to my calculations, the return on investment (ROI) was between 12% and 14%. And with a multifamily, even if one unit is vacant, I still have cash coming in. How could I lose?
And then I got hit in the face (wallet) with reality:
It was an older building, and maintenance was continual and expensive. Plus, the tenants and others almost continuously vandalized the property.
Rent delinquencies and evictions were frequent, and the process was lengthy and expensive. And I was left with a damaged property that needed hundreds or thousands in repairs before it could be rented again.
I ended up losing thousands of dollars each year despite doing almost all repairs and maintenance myself. This was completely different from the calculated 12% to 14% ROI.
Learn more about your ad choices. Visit megaphone.fm/adchoices
1326 episodes
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Manage episode 417772268 series 2813754
Content provided by BiggerPockets. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by BiggerPockets or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.
My first investment property was a C/D-class multifamily in Houston. I selected it primarily based on perceived cash flow.
According to my calculations, the return on investment (ROI) was between 12% and 14%. And with a multifamily, even if one unit is vacant, I still have cash coming in. How could I lose?
And then I got hit in the face (wallet) with reality:
It was an older building, and maintenance was continual and expensive. Plus, the tenants and others almost continuously vandalized the property.
Rent delinquencies and evictions were frequent, and the process was lengthy and expensive. And I was left with a damaged property that needed hundreds or thousands in repairs before it could be rented again.
I ended up losing thousands of dollars each year despite doing almost all repairs and maintenance myself. This was completely different from the calculated 12% to 14% ROI.
Learn more about your ad choices. Visit megaphone.fm/adchoices
1326 episodes
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Similar to BiggerPockets Daily
On the BiggerPockets Real Estate Podcast, co-hosts David Greene and Rob Abasolo interview real estate investors and entrepreneurs about successes, failures, and hard-earned lessons. Through in-depth conversations, 1-on-1 listener coaching calls, and news analysis, you’ll get a breakdown of real strategies that work for different niches and experience levels. Tune into the #1 real estate investing podcast every Monday, Wednesday, and Friday.
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Find distressed properties for pennies on the dollar and turn them for huge profits!
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