All Forum Posts by: Andy Freeman

@Cameron Lam

Awesome and insightful post as everyone has said. I'm picturing you buying that tiny house and then towing it all around town trying to find somewhere to park it lol. And even though it's not your best performing property right now, it's cool that you've been so creative with your investment strategies. Good job.

Awesome job. Definitely a successful BRRRR and then some. Love the dark hardware in the kitchen with that color scheme. Good work.

@Jonathan Greene

If you spend the time to research where you're buying OOS, and the you can afford to lose some or all of the money you are using, I think it has a place in an investor's portfolio. Research is more than just reading the forums. I'm talking about looking at city data, knowing the demographic of the neighborhood, and knowing that you're going to have to spend a lot more on rehab than the people trying to convince you to buy the house are telling you.

I live in Orange County, CA, and have investment property both here and OOS. I have minimal cash flow in CA, but get a large amount of principal pay down each month, and better opportunity for appreciation. I have a couple properties in the Midwest, but am definitely always looking for something near my hometown as well. OOS is fun because your money goes a lot father. A full gut rehab in Indiana costs the same as remodeling a kitchen in Orange County. I enjoy seeing an entire house being transformed rather than just a kitchen, but that's just personal taste. That's not saying either one has more value-add or financial benefit.

I think diversifying where you invest isn't a bad idea. I don't really think there is one perfect approach for every single investor. You just need to make sure you've done your own research, and understand the risks. Everyone who is "helping" you is also making money off you, and it's not based on how successful your end result is, so just be careful.

@David Cohen

You’re paying for the school districts in Irvine. If you want to raise the family here in Orange County and have your kids go to Irvine schools, you might as well buy now before it gets even more inflated. If you want to keep your options open, and have the ability to move around better, just find a nice place and rent. You can get some nice places in Irvine for less than your mortgage will be.

Awesome job. That's a pretty decent size rehab for your first OOS flip. The next projects you take on will be a breeze with this one under your belt.

I'd for sure hang on to it. That's really good cash flow, plus the principal pay down. If you have some other money saved, try getting started with that. 

Option 2 looks best, but 1 looks good too. Not a fan of #3.

Looks good. You only spent $2,500 on all the rehab? 

The numbers look good, and if that's your first investment property, I'd say you're off to a good start. The numbers look good on paper, and looks like you've done your research, so you've got a good chance for success.

@Tiffany Roberts @Andrew Taylor

Right? That’s a crazy amount of homes for sale in one area, and it doesn’t look like there are too many that have sold recently, so I don’t think it’s anything you are doing wrong. There is just a ton of inventory. The house is done really well, so if you can get $2600 or so in rent, it might make sense to do that instead of taking a loss, or just breaking even on the deal.