Introduction, from Eastern Idaho. Just starting the path to REI

[Chris Simmons]

Hi Community!

Just started the path to REI. We bought our first home a few months ago. I work in the financial industry as a Data Analyst on a Marketing team. Very exciting if you are a numbers person or a demographics person. The whole experience buying a house was both fun and some of the hardest things I've done but I think the challenge is what pushes me towards it and the idea of cash flowing rentals based off of good estimation tests my abilities in a field I don't have experience in as a 20s investor.

One of my best skills is in analysis. I don't have the best skills on the real estate side but I follow trends for my employment and run profitability numbers for 100 products of Banking. I also am very versed with Power BI, Excel, Big Data Analysis, and Target Profiling (for Marketing Campaigns). I can definitely see someone out there compiling a list or database (MLS) with all of these numbers and I can pull a running trend for all of that data, insights and what things seems to affect sells and rises in markets. If someone hasn't created it, there are resources and I think the applications of that are endless, especially if you are all about seeing those big numbers working for you. Things like Cash on Cash Returns, average current property value, differences between purchase price/asking price and tax assessed value, combining factors and offering some prices you could offer with the reasons why and the numbers connected to that offer possibility. All of that excites me.

I do have tons of questions since I am new and tons of things I'm willing to discuss so I'm very excited to be in the community. If I am wrong or you have a trick or tip, give your opinion or feel free to share your wisdom.

The topics I'm super interested in that I think will propel me forward or what I want to invest in (feel free to reach out) are:
-Rentals of SFRs, 1-4 unit MF, Condos and Town Houses / Twin Homes
-A lot of people say that HOAs kill the profits of a Condo or a Town House. Aren't there a lot of benefits to an HOA as well? Can't they both be profitable (cash flow) and be worth paying the HOAs? A lot of really great homes go up for sale in my area that are in these groups that I'd love to buy up at some point if possible.
-Books or guides on what the cost of a certain repair would take (countertops, flooring, siding, etc) and how do you estimate the years left when you see a house that either needs flipping or even just a coat of paint and new carpet.
-Is it bad to break even on a property if you have the percentages aside for vacancy and other things and you are building equity and it will cash flow later? Yeah, you can't predict these but it makes sense on the appreciation side even though it isn't cash flowing.

I've got many more. I'll be on here a lot moving forward. Feel free to connect!

-Chris Simmons, Pocatello, ID (Have lived in Texas, So Cal, Boise ID)