All Forum Posts by: Asim Sheikh

@Eric T. - There is one motto in real estate which is eternally true, and it's all about "location, location, location."  That being said, sometimes, for new real estate investors, it's tough to invest out-of-state, and there may be no choice but to start with the current market.  If that's your situation, and you feel confident with your analysis and numbers, then I would go for it, as not only will you be getting cash flow, but it will also serve as a great learning opportunity!

@Michael Moskos - talk to the tenant in a diplomatic way, remind him of the policy around noise, and the fact that he is disturbing everyone else, and if he does it again, call the cops and start the eviction process.  

@Pat L. - where are you investing?  I am looking at markets outside of Long Island, NY.

@Jordan Murrell - As someone who is new and fairly conservative myself, I prefer to take the "wait and see" approach, as there are way too variables right now, and not a single "guru" can accurately predict the outcome of any of those variables.  I plan on watching these factors very carefully over the next few weeks/months, and will start to jump back in when the time is right.  Of course, the numbers, and the resulting financial position still have to make sense for me to move forward.

@Pat L. - agreed with everything you said.  Unfortunately, there haven't been too many good deals over the past few years, and I doubt that this will change anytime soon. All of the financial gurus are saying that this will be a short-lived event, and with the government stepping in to provide massive relief to homeowners and renters, there isn't going to be that much opportunity any time soon.  Thoughts?

@Tanner Sommese - I would not own these myself, and structure them so that they are rent-to-own, which would free you up from any repair/maintenance related headaches.

@Kenneth Kilgore - do you have the ability to do seller financing for the time period that you are in VA?

@Kyle N. - In expensive areas, it is fairly common to house hack on the first property.  The tricky part can be figuring out how to divide up a property in these markets so that this strategy makes sense, especially if it's a single family, and not a traditional multi-family residence.

@Nick Mcroberts - as long as you have positive cash flow, you should go for it!  I would make sure that the rehab costs are fairly accurate, as that can easily eat into your cash flow.

@Thomas Zuck - love your story, as I am in a similar boat, and looking to invest out of state some time soon.  Please direct message me so that we can potentially share some ideas, along with next steps.