New member from Long Beach, CA

[Steve Chaparro]

Hey, all.

My name is Steve Chaparro. I owned real estate before but lost it all in the GFC. I was in both architecture and real estate development for 18 years, so I'll be bringing that experience to the table.

Looking to get back into the game with some big plans. I'm current angel investor looking to parlay some of the future investment payouts into real estate. Until I am considering building cash flow with launch an ATM business then using that cash flow to invest into BRRRR deals and then BTR deals.

Looking forward to meet new folks here. 

Steve

[Jason Wray]

Steve,

Welcome to the BP forum and great time to get back into the REI world. We are on the edge of mortgage rates getting ready to decline and home values in many states are growing. You are out in Cali so it is tough to get a good cash flow deal but if you have a comfort level check out states Like Indiana, Ohio, Florida, Las Vegas, Tenn, Georgi and a few others.

Unlike Cali you can still find a decent 2-4 unit in states Like IN, OH and FL for under $250K with rents at or above $1250 a door. On top of that you have lower taxes, insurance and a lack of HOA's. I had a good friend who went into the ATM business back in 2015 did it for successfully for 5 years and sold the business for $2.5M

Great business to show constant deposits as a business and as a SE 1099 or W2 business to help buy real estate. You do have to keep an eye on your write offs to ensure you are showing a good NOI and not using too many write offs to show enough income to use for bank/lender underwriting on a mortgage/loan.

Great thing about ATM is location, location, location so that you capture that foot traffic. You can also get away with higher fee's in places where people are drinking or out on the town. Strip clubs, bars, Night clubs, Hotels, Quick marts or stores where there is not a bank within a good driving distance.