All Forum Posts by: Andy Rousch

I'd be happy to connect you with my Financial advisor if your interested. Him and his partner have experience working with real estate investors but also of course have knowledge of retirement plans, taxes, looking at a 10, 20, 30, 40 year outlook, etc. They're definitely experts in their field but if your interested send me a dm and ill send you their contact info 

I wouldn't let the increased prices and rates hold you back, there is still a massive shortage in housing so if it cash-flows, go for it. As far as rates, if you buy now you at least have the price set and can refi in the rates drop in the future. At bare minimum you have a locked in 30 fixed cash-flowing property while rents keep rising and inflation grows (Even if prices drop in the long-term they will always rise higher) 

Hey @John Costanza It seems like your flexible on the areas and each of those have their ups and downs. House hacking in NJ can be great and long-distance is great as well. I've done both and definitely don't have anywhere close to all of the answers but am happy to share the experiences that I have had and learn some more about your goals etc. 

thank you all! 

I love the help. and its one of my life goals to have a house down the shore in NJ but I was afraid of the off-season vacancy but dam 60% down the shore in off season is great @Neil Patel      keep it up !  @Patrick Burkhardt  I am looking at mountain creek area and also a area pretty far out in PA where I have a partner on some long-term rentals so excersizing both ideas. I'd love to connect. @Joshua Messinger  thank you for the encouragement it is a goal to get one by the end of this year. 

Considering partnering with a handyman that I know to start a short-term rental/air bnb management company. I know in most states that I've visited and asked they say you don't need any licensing to manage STR's. Was wondering if that is the same for NJ? I know for long term rentals you need a brokers license etc. but for short-term it is different

That's awesome @Neil Patel I've been looking in that area too in NJ so I would love to talk to you about it and potentially even help out etc. for the knowledge. 

Any outside of the box items to keep in mind when purchasing an air bnb near a ski resort? Other than maybe talking to the resort about coupons, etc. Might get my first air bnb purchase and thinking of fun options other than just traditionally furnishing them. 

I would walk away for sure if it doesn't cash flow personally. I would check for value add areas or any areas for an adu possibly to make it cash flow, but don't get discouraged after two properties keep searching you'll find something that cash flows

On the other hand if you or someone has tons of reserves and doesn't mind negative cashflow in a very high appreciating area I could see why someone with plenty of money MIGHT do it, but I wouldn't even consider it that's just my opinion 

Integrity is huge - doing what's bets and not just trying to get them to close on a deal and make the numbers sound good. 

The ability to analyze a deal and knowing the market rents

If they are out of state they will need other people they can trust so having a strong network of honest contractors, property managers, cleaners, investor friendly lenders, and handymen/women is huge 

Being able to find value add in a property and being willing to walk a property via Facetime or Zoom, etc. so they can virtually walk the property without having to go and see it in person 

I am currently doing this for a family members rental who has a tenant that is overdue. I had an attorney file for the eviction but also for a judgement on them until the debt is satisfied. The court date hasn't happened yet but I'll let you know how it works out! This is in NJ