All Forum Posts by: Bradley Buxton

@Shiloh Lundahl

Networking is about meeting people and where would people that are real estate investors with high net worth congregate? Usually it's not RE meet-ups, more likely it's golf clubs, private bars, coffee shops in affluent areas, ski areas, etc. What outcome would you like by networking with them? Are you looking for deals, capital, new friends? 

@Michael Clardy

There are two experts to talk to, a CPA that knows real estate and a Qualified Intermediary (QI). They can both advise you on the pros and cons of each tax strategy. A 1031 exchange may be done into a primary residence, when you go to sell that would trigger an event. When using the 1031 it will restrict the amount you have to spend on a new property. Depending on if you want to use any of the equity from your home to find retirement or if you want that all to be put into the house may also change your strategy. Both the CPA and the QI will be helpful in determining your options. 

@Neil Quinlan

Why do you want to be a realtor?  The hours are erratic, it's all commission based and I'd say it takes about 20k to get started depending on the market. You're starting a small business. If you want to invest in real estate a firefighter position seems like a good spot. Especially if in 20 years you can retire with a full pension. There is a time freedom aspect that is a huge plus and once you get your business going you can have more time freedom that will be about 5 years in if all goes well. That time freedom is not day 1 because you are husting to be a better agent than 99% of the competition. Can you be financially free, sure, consider if you are buying real estate you will no longer have stable income to get a loan. Talk with a few realtors in your area and get their perspective. 

@Travis Gutting

Being prepared and confident to make an offer will land you good deals from the MLS. True off market deals take time and if you have time to burn then the driving for dollars and cold calling can find you a deal. The sites that have "off-market" deals, FB, or wholesaler email lists, are just another market. Watching the housing market you want to buy in and knowing the areas you want to buy and having the data to give you confidence to make a quick offer will get you a solid deal. There a hundreds if not thousands of other investors looking for "good deals" in your market. How will you out compete them? At my brokerage we do a total market analysis for the Northern Nevada Tahoe area, as soon as a property hits the market we know if it's a good deal because we have the data put it on the radar. Then we look at the condition, and other factors, from there we send it to our clients that match their buy box. As other have said networking, research, and a good agent are all ways to get solid deals.

@Maurice Stewart

I have some good CPA references that work with real estate investors. I'll send you a PM. 

@Ryan Kinoshita

I've used bluevine and there are some downsides to a online only bank. It's hard to get checks quickly, I know, who takes a check, but I've run into this before. Also they are not connected to Zelle, they are very average. They do have a good interest rates. I'd go with a larger bank like Chase. 

@Kyle Fronckowiak

What would make sense for your father in-law? What is his situation? Do you have a down payment? If so that will give you equity and some ownership stake? Does he want monthly payments or a balloon payment? Does he want to use the house? Who will be on title? Is there a trust?  As others have said have a lawyer draft up the agreement.

Check your local regulations if you plan to rent out the house. The City of South Lake Tahoe does not allow short term rentals. Depending on where your place is there are parts of the county near SLT that do allow them. They are some incentive programs to rent it long term if that is your goal. 

@Suhaib Rehman

I'm up here in the Tahoe area and have a couple of insurance broker resources. They will be able to reach out to multiple carriers. Your fire risk is lower in Sacramento than in the Tahoe or any wildland urban interface area. Rates will continue to increase as more major disasters happen. The LA fires will drive rates up for everyone and is now a major line item expense. We will write insurance contingencies into home offers in the Tahoe and now even in the Reno, NV area for rentals and primaries. It's just part of property ownership. 

@Dan Trimble

A property can be rented, Long term (LTR), short term rental (STR) or mid-term rental (MTR). Have you considered renting it out for weddings as a wedding venue? There might be other uses such as horse rental properties, van lifers. Check with the county about permits and what is allowed. Keep in mind the maintenance of 3.3 acres especially with insurance and fire mitigation.

@Paul Lyons III

Welcome Paul. I'm a former NorCal resident now up in Tahoe on the Nevada side. Great to hear the passion!