All Forum Posts by: Ana Marie B.

@James H. - Very interesting post, particularly because it's the strategy my husband and I use and are comfortable with. While we're not pro's (yet!), we purchase for appreciation and thus long term buy and hold. In the beginning, we break even which is fine because we make good income and so we don't need small amounts amounts of cash flow now.  For instance, we purchased our first property in an A/B neighbourhood and in as little a year we are already seeing rents go up (as well as equity). We're employing the same strategy with our 2nd rental in which we are already in closing stages.

This strategy works well for us. We are more conservative than your avg. investor on BP though IMO.

@jbeard is right. My husband and I closed on our SFR in SF Bay Area 10 mos. before our big wedding (200+ guests) and were fine. Of course the entire process was stressful as heck, but well worth it. After our wedding we had a renovated home to move into.

Believe we went in as tenants in common. We later refi'd and were able to amend our status then. 

Ok understood. Thanks for the advice guys! Guess I shouldn't get too spooked, at least for the time being. 

Umm...Ok so getting back to the original topic (lol)!  I live in the SF Bay Area (South San Francisco to be exact...where my house has appreciated $250k in just 5 yrs!).  That being said, I can't afford to purchase my rental properties here because I just don't have "that" kind of money.  By this, I mean, I can't afford to invest in properties that are up to my standard in San Francisco, Peninsula, or North Bay.  I'm VERY picky about location and want turnkey so no I will not invest in Stockton, etc. (sorry and no offense).  

To put it bluntly, I invest for appreciation.  So for now, I invest in Seattle, WA.  It's less than 2 hour plane ride and my husband travels there often for work. My husband and I break even on our properties for now. And that makes sense for us.  In the near future, we'll get good appreciation "and" cash flow.  Everyone's strategies will be different.  

Some invest for cash flow, some for appreciation, and others for both.  To each his own.  It's all about what works for you and your current situation. 

Sorry for the long-winded rant. ;)

Hi All - My husband and I are in the beginning phases of closing on our 2nd rental property in Seattle (Lynnwood 19 miles north to be exact).  Pretty stoked about this.  However, we're getting a bit worried due to all the reports about the Chinese stock market woes and the ripple effects this may have on other markets and the world in general. 

My question is, should we pull out of this negotiation at the inspection phase and wait for the market to improve?  We don't want to complete this transaction and then get smacked with another major economic downturn.  What are your thoughts?  

Thanks in advance.

@Bill Gulley - Well-said

Totally agree with @Mike F.

@Michael Boyer - Sorry for the delayed response to this. Been busy searching and traveling for our second rental. In the end, we decided against this MF in a shabby neighbourhood because we just didn't want to deal with the potential tenants this area may bring. We opted for a SFR in Lynnwood, which is just 19 miles north of Seattle :) Good schools, good shopping, and just nicer homes in general. Thanks again for your comment!

Thanks all for the terrific advice! And yes Lynn, I agree that Jenna gives a great detailed explanation of what it takes to own and operate a short term rental! This AirBNB idea is still in its planning stages for my hubby and me. Will plan more aggressively after we close on our 2nd rental property in Seattle (currently I need the works!).

Hi Tok! For me, I usually work with my own agent (aka buyer's agent) who contacts the seller's agent (agent listed on MLS) when I want to view the property or make an offer, etc.

However, if there's an open house noted, then you can go view the property by yourself at that specified date/time with no buyer agent present. The sellers agent or bank rep are present to answer questions though.  Hope that helps :)