All Forum Posts by: Andrew Fuerstenberger

@Cameron Dye just having some fun with this question. Love that you have the eye of the tiger but don't forget to have a little fun and be a kid. Best of luck and I hope you slay it (in real estate that is).

3 Votes

@Mark Fries what area of the city do you specialize in? Do you rehab or buy for cash flow? Hit me up as I'm looking to get going on this in 2019.

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@Greg M. I love this approach. Tennant's will essentially lawyer up and get an online hack to give them an ESA cert. I realize there's "the principle" aspect but that doesn't pay the rent. Hit them with an above market increase and they either pay it as a defacto deposit or they leave and you can move on to someone new.

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Have about 30-40k to invest and access to borrow more if need be. I've been listening to Cardone and Meet Kevin on YouTube and really know this is what I want to do. Cardone advocates multifamily and Kevin SFRs. Any advantage in either case? I'm not accredited but moving closer to that direction but will be a few years before that is the case. I have about 100k equity in primary and a 1br condo that cash flows about $175/mo with about 35-40k in equity. Always looking to learn more and grow my knowledge. Thanks for reading. Drew

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Originally posted by @David Greene:

@Lance Knapp

Hi Lance,

I too live in CA and haven't bought here since 2012 or so. Overall, it's wise to follow Warren Buffet's advice "be greedy when other's are fearful and fearful when other's are greedy".

LA has ridiculously low cap rates and is very competitive. That tells me a lot of people see it as a low risk environment and are parking money there. I, for one, do not want to follow the herd. I want to get out in front of the herd so I can have the best area staked out then sell it to them when they all arrive.

For most investors, right now is too late to be getting in in LA. The time for that was when everyone else was crying the sky is falling and wouldn't touch real estate. There are several other markets with much more attractive numbers and upsides I am looking in and I think it sounds like you would prefer.

Here is something to think about. The pro's of living in and investing in CA. Pro-we make a high wage here. Con-property is expensive and hard to buy for cash flow. Why not maximize the Pro (living and working here) and minimize the con by investing somewhere with more favorable rent to purchase price ratio's? Technology has caught up to the point where investing out of state is so much easier than you'd believe. I own 9 out of state rentals I've never seen and plan to buy 17 more this year.

Don't follow the herd. Buy in areas you believe jobs, people, and demand is flocking TO. Wait for the next crash then buy in LA when everyone else is talking about the american economy never recovering.

@David Greene - are you at liberty to discuss what tools and websites you use to locate some of your out of market deals or is it via contacts here at BP? Appreciate any knowledge you can drop. Thanks.

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Looking to take my experience and love of real estate to the next level. Currently have a primary and a 1br NOO condo rental. Looking to expand rental portfolio and to seize opportunities to buy below market and resell. Would like to find a deal or two a year to flip and then add 1-2 inexpensive rental units to the fold. I have decent real estate and mortgage knowledge, but need help with creative down payments and not tying up my personal capital to acquire new properties. More advance deal making and EP/JV's knowledge would also be useful. Thank you for this forum.

Drew

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All Forum Posts by: Andrew Fuerstenberger

Andrew Fuerstenberger has started 2 posts and replied 6 times.

Post: What Should I be Doing as a 17-year old?

Post: What is your Strategy for 2019

Post: Tenant purchased a dog and is now in breach of contract

Post: Jax / St Aug Area Looking to Get in the Game

Post: Is Now a Good Time To Invest? (First Time Buyer in LA, CA)

Post: Mortgage Servicing Veteran