All Forum Posts by: Bradley Buxton

@Gabrielle Cutler

Write down why you're investing and what you envision your investments doing for you in 2-5 years. It could be owning multiple single-family homes, an apartment complex, or both. Consider the time and energy you'll need to contribute, and let those factors guide your decisions. Whether you want an Airbnb in a vacation spot you can use or a standard single-family home in an appreciating area, there are many options. Your path won't be the same as others. Use forums to ask specific questions and listen to BiggerPockets podcasts from the past couple of years. The markets have changed quickly, and what worked 5 years ago may differ significantly from what will drive success today. Talk with other investors in your situation to get some ideas. 

@Mayank Jain

An agent brings value and if you get no value you need a new agent. There are likely thousands in the bay area. Think of it like hiring any other contractor that will do work for you. If you are not getting the value from and you have clearly communicated your wants and needs then you fire them and interview more. 

@David Avetisyan

That is a good question for a CPA. If you don't have a good one I'm happy to provide you a few names of real estate focused CPAs.  

@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.