All Forum Posts by: Blake Edwards

@Timothy Douglas - If you have a decent agent, they should be able to walk you through what Escrow is, what it means, and how you & your money are protected during that specified time frame.

When we bought our first house, our agent told us "Congratulations, you're in Escrow!"  My wife and I both said "YAYYYYY"....As soon as our agent left, I asked my wife "What the hell is Escrow???"

Ask questions, and if you don't understand, ask again until you get it.  And don't be afraid to ask follow up questions.  The people you work with should be helpful and responsive.  

Good luck and feel free to reach out if you have any questions!

Are you still putting your money away in a retirement account?

Are you maxing it out?

Are you getting the bare minimum employer match?

Or are you parking all your money in a liquid account to be ready for the next opportunity?

Curious about everyone else's mindset

@Roushel Asuncion - Have you looked at the appreciation rates in the areas you are focused on?  The cash flow is nice, but that's usually all you will have to work with.  In the Bay Area, the sticker shock deters a lot of people from starting out.  But with creative ways, and flexible ideas, it is possible to get into a property, and use that equity to springboard into more and more properties, rather than waiting 5-10 years for something in the Mid West to appreciate to be able to use that capital here.  OOS is great for cash flow, but again, that's usually all you would gain.

@DG A. - Does the property have any inspections on file?  Is it absolutely necessary to perform work to the foundation?  If not, I would leave it and save your money.  If it does need some work, that is a bargaining tool for you and your agent to play when negotiating.  We have concrete contractors who can do this work, but if the cost is too much, it may be worth the negotiations on the front end.  Good luck! 

@Paulo Bermudez - Hey man.  I was actually a lineman up here in Northern CA for a large utility (yes THAT utility) for about 10 years before I made the jump into Real Estate and investing. Let's chat.

@Nico Murillo - The sticker shock of the Bay Area drives a lot of people away.  Meaningful action and due diligence is key to making something work for you in this market where the sky is the limit.  $15k doesn't seem like a lot of money on paper, but there are ways to make it work for you and your goals.  Being open minded and preserverance are two pieces to the puzzle that are often overlooked.

@Sahir Noorani Congrats on the job!  We always advise our clients who are interested in House Hacking (and investment properties for that matter) to look at each individual property with a creative eye.  A home on paper usually doesn't work right off the bat.  Look for value add opportunities that other have overlooked and find a way to maximize the value according to your criteria and goals.  Good luck!  There are plenty of opportunities out here and ways to make it work!

@Adam Engle-Sorrell I hear ya. Mobile

Is definitely different from desktop.

*any of the above methods.

@Adam Engle-Sorrell you can find the events in the events tab at the top of the page here, on eventbrite, or I can set you up via email to be notified anytime we schedule one. Shoot me a pm if you’d be interested (or want to talk shop). Otherwise, Amy of the above methods would be good to see when and where they’re scheduled.