All Forum Posts by: Bradley Buxton

@Lolo Druff

There are many places to invest and each area will have it's advantages and risks. Investing close to where you live and a place where you would want to live has advantages like being able to check on your property and meet with your team. Also consider your lifestyle and if you want to be traveling 3 days just to check to see if a water heater is installed correctly and your property manager is looking after your property. There are more factors than just pure cashflow and it seems like you are in a good position to be successful.  

@Jadan Williams

CA can offer some good long term investments. Despite all the negativity people still want to live in CA. If you want to stay then you will find a deal that makes it work. If you do want to leave CA there are multiple options and chose a place where you would want to live. Usually that means others in your demographic live there or will want to live there.  

@Zhongyuan Luo

Many data models are not very localized for properties price or rental comps. You can do your own research or find a good local agent. Here in the Reno, NV area we have been scraping local rental and property data for the last 2 years. It gives a good picture of the market and trends but it’s hyper localized in this MSA market. You can use Zillow or rent cast along with others to paint a picture of the area where you want to invest. 

@Hal Roberts

The biggest challenge is obtaining accurate and current data, such as demographics, job growth, and most importantly, rental data. Here in the Reno, NV market, we scrape rent data weekly, generating a huge amount of information. This allows us to underwrite the entire market simultaneously, identifying the top investments every day. Local knowledge can also improve investment outcomes. Collecting data nationwide would be a difficult undertaking. The assumptions made when analyzing investments should be transparent as well.

@Mindy Rosscup

The knowledge you gain by studying and taking the test to become a RE agent. Put it to use  and it will give you an advantage to do your own deals without a Realtor. The important part of investing is the calculations of a deal, having capital, and a W2 job that will help you get loans. An experienced investment focused agent will save investors time, will work for you to find the best deals, and can even help underwrite deals.

@Heidi Fischer

Great questions for a CPA that knows more details of your specific situation. I have a few CPA suggestions for you. They are in the Reno, NV area and experienced with real estate investors. I'll send you a DM.

@Natalie Jarusewski

There are pros and cons to both. Without tenants it's easier to show the property and the condition can look better than if tenants have their stuff everywhere. Also the new owner has the advantage of screening their own tenants and signing leases at or above market rents. If you can sign tenants in one side make sure they are the best you can get and are paying at or above market. Investors do not like tenants that pay below market and re locked into long term leases. 

@Christian Hwang

To be successful in flipping properties out of state, it's crucial to build a strong team. With your experience, having sufficient capital to cushion any mistakes is important. Start small to learn the market, people, and areas where you can achieve success. Choosing a location near LA, accessible by a short flight or drive, will make it easier to check on your projects. This is a great opportunity to leverage your skills, and depending on your risk tolerance, you can continue to build wealth. Finding the good contractors will come with experience and some will be great on one job and fall short on another. Having multiple will be important. 

@Silas Melson

If you buy in cash you will have good cash flow. The idea you can put 5% down and cash flow and have strong appreciation is very rare. You can buy new construction for low maintenance and use a property management company to rent out out the property. You will still need to manage the property manager. There are other more passive ways to invest such as REITs or syndications. You can go with a partnership as well to put in the capital and have less of the day-to-day management. Going to a few meet-ups and meet some other investors can give a perspective on what strategies are available to you. 

@Becca F.

When talking to inspectors, I always ask what areas they’re not inspecting due to inaccessibility or because it’s outside their scope. Important things to check include opening and closing every cabinet, looking under sinks, pushing on doors and cabinets, and checking commonly used areas. Also, inspect the corners.

I always recommend sewer inspections for homes. Spending a couple of hundred dollars can reveal major issues. Visiting the property in person is beneficial too, as it helps you understand the flow of the house and assess how well it can be marketed later on.

For turnkey properties updated by previous owners who lived there can be a good buy. Doing a BRRRR requires trust in the contractor and the person overseeing the work. Ideally, you should be able to see progress every couple of weeks.