All Forum Posts by: Bradley De comarmond

@Chingju Hu 

You're not crazy at all! Let me ask you....does your sister study real estate investing? Probably not! Or at least not to the degree you have. Buy a primary residence as a 4plex and renting out the other units make some sense depending on your lifestyle preferences and cashflow you would receive.

However, I rent a condo I love in West Hollywood with the flexibility to leave and travel whenever I wish while I'm a licensed Florida Realtor and do my investing out there because the dollar goes so much further (and there's ZERO state income tax! :)

And yes (@Sarah R., those numbers you wrote are extremely accurate which is why most investors I know here will only flip houses but not buy and hold.)

Many people are afraid of investing out of driving range of their properties but to me it doesn't make logical sense. Yes it's intimidating, but doesn't making positive cash flow after expenses AND A PROPERTY MANAGEMENT COMPANY make a lot more sense than losing money every month on a property you can go and check on? 

Personally, I don't want to check on the property. I want to focus on better uses of my time and have someone else deal with those headaches. Out of state, you can afford to do that. In California, you will have to do the management yourself or lose even more money every month!

I guess it all depends on your goals and risk level. Personally, positive cash flow and some appreciation is more appealing to me for a lifestyle than struggling with good appreciation and hopes that the market won't adjust drastically and ruin the prior 5-10 years.

If Florida is a state you're entertaining, let me know and I can offer you information and support there.

Welcome @Rick Martin 

I feel the same way. The best part is that the more involved you get with the Bigger Pockets community, the more you will get out of it! 

Considering 1 bit of advice or connection could lead to thousands of dollars earned (or saved), it's well worth the pro membership in my opinion.

Like you, I live in LA (west Hollywood) but will only focus out of state for a few reasons...the cash flow potential, lower cost to purchase property, and the no state income tax (in Florida) at least.

Investing out of state can be intimidating, but well worth it and a lot easier the more you do it, especially when you have people you can trust in those areas.

Best of luck and if you have any questions, feel free to connect and ask away.

-Brad

Welcome to Bigger Pockets @Alexander Cortes

BP is loaded with all the information you will need to succeed in whatever niche of real estate  you wish to pursue and the community is filled with knowledgeable investors and professionals to learn from and connect with.

Listen to the podcast for extra inspiration and investing advice and post in the forum for any questions you have.

Like you, I am living in Los Angeles, but I focus on investing out of state for the 3x cash flow and reasonable cost of real estate but I also work with current agents and brokers as well.

If you have any questions about out of state investing, please connect with me and good luck on your journey!

- Brad

@Tommy Nguyen The 1% rule was quoted in The Rich Dad Poor Dad set of books (and perhaps far before those) as a way to quickly figure if your property would cashflow. Essentially, 1% of the purchase price needs to be the monthly income of the property for positive cashflow.

Example: A $500,000 property must generate $5000/month (or 1%) for it to be a worthy investment.

In some markets this is easy to reach, in others (most of California) it is closer to .5%

Thanks for responding @David Thompson I actually met Reed a few months ago at his meetup downtown. nice guy. I'll look into it.

I know you! @Silvia Pangaro

@Hipolito Mendez Orlando has a lot of great areas and am working with an investor in SM right now to find a property around there. I find the numbers are a bit better around St. Pete (Tampa) as well as Jacksonville which is growing like crazy.

Hey LA pros,

I am a Florida Realtor and investor with a boutique investment brokerage in Tampa, (Circuitous Realty) but I primarily live in West Hollywood. 

Recently, more and more Californians have approached me about the Florida market, especially Tampa Bay, Orlando, and Jacksonville and I have been working face to face with clients to find them properties in Florida due to great appreciation along with 8%-10%+ cap rates and zero state income tax.

California Realtors and brokers have been referring me clients that are holding off investing locally but are considering investing out of state. If you have any investors looking out of state, I will be happy to work with them if Florida interests them and work out a commission split so that everyone wins and the investor isn't just waiting on the sidelines.

Connect with me and feel free to ask me any questions. Have a great week!

-Brad

@Adam Huss is a Realtor in South LA and a flipper as well. 

Hey BP nation!

I am a Florida investor and Realtor living in Los Angeles, California most of the year. 

Throughout the years I have learned from a few amazing mentors in my life and am constantly looking to grow, connect, and offer value where I can. 

Large projects such as syndications and apartment buildings really intrigue me and would like to work with an experienced syndicator or commercial investor here in LA to learn the ropes, help out, and perhaps use my knowledge of the Florida market and license to add value.

Direct message me with ideas or people you think would be a great match.

-Brad