All Forum Posts by: Bentley McKean

If I had unlimited funds, I would buy all of the real estate in the entire world

Do you think it is a bad idea to invest out of state for the first deal? I really specialize in Industrial real estate, so I may want to stick more to that instead of multifamily. 

@Frank Patalano I feel like the area In California I live in is too expensive for me to invest into. I also don’t know if I would be comfortable investing out of state for my first property.

Thank you so much for the responses folks! I don't think this particular deal would be worth the time and energy it would require. 

How do people make this work? Destination locations only? 

We have a property manager willing to lease us a single unit apartment for $1600/Month unfurnished. Wifi would be around $50-70. I think we could get it furnished for around $1500. 

There is 3 other single unit apartments in our area on Airbnb for $110/night flat. We do not live in a "destination location" per say.

Do these numbers work? 

Our city says OWNERS are  require to have a business license, and pay a 10% tax on rentals, and a short term vacation rental permit. We aren't technically owners of the property though, what should we do? 

What else aren't we considering? 

Thank you for all replies.