All Forum Posts by: Bradley Buxton

@Rebecca Gona

STRs are a hospitality business. The better your can run and manage that business the successful you will be. A long term rental is a simpler business model because there is less turnover and the property alone is what is marketed. I can provide you with some CPA and lawyer references that support real estate investors. I'll send you a DM. 

@Mario Morales

I think this is a common question and the value that an agent will bring will vary by individual needs. I have rental data, analytics, and entire market analysis in Reno, NV. Some clients love the numbers and others are not numbers people. We can show them the data either way. If you want to be vary hands on in the process find an agent that will guide you every step. Others are more hands off and want the data but don't need to calculate to the penny. They might only skim an inspection report and trust me to find issues. While owning property is good you can find an agent that brings value to you with out them owning 10 doors. The scientists that sent people to the moon and back have never been into space. If they are actively buying for themselves are they really looking out for your best interests or their own?  Interview multiple agents they work for you and need to be trusted advisors, guides, and direct with issues that might arise. 

@Zachary Young

The Midwest and south are less expensive than the west coast markets. Keep in mind travel time, repairs, and lifestyle to manage the out of state rental. Are there lower priced investments in your area that you can purchase or house hack? 1 bad tenant and a few repairs can wipe your cash flow, time and energy. Building a trustworthy team will be key. 

@Nick Hulme

Making improvements to your primary to make it high quality enough to rent above market rents, rent it. If you can so that yourself then you can save money on the rehab. Once you have enough saved then buy another primary residence and live in that, fix it up. Usually the hardest part is coming up with the down payment. If that is the case is taking on a family member partner. 

@Ashley Mierez

Consider your margin dollars as well. A 1 million flip might only make you 100K vs a 300k flip you get 50K. Then there is the time element with holding costs. An easy flip at 7-10% return might be more lucrative than a larger project that takes longer and more chances for cost over runs. 

@Jemini Leckie

If your state is popular enough then why not invest in a townhome? Yes they usually have HOAs and that could be an advantage to keep property values up. New construction can offer many incentives for interest rate buy downs. Investing in area you're less familiar with combined with multiday travel can be more costly than spending more in your own market. Many CA investors like to invest in NV and AZ because they are close by making it easier to travel to and from in 1 day. The more cash you put into a property initially the more cash flow you get. In popular markets equity will usually far out pace the cashflow, it's part of the reason people invest in CA. There are Markets in the western states like Vegas or Reno that offer a balance of cashflow and equity returns. 

@Ven Bud

Are you saying your portfolio of your primary and the investment would be cash flow positive? Is the cash flow loss a lot less than than the equity and what is the plan to be cash flow positive? Eventually you would exit (sell) and that would have more equity to make a profit after the cash flow losses or the investment generates positive cash flow in year 2,3,4 etc. There are pros/cons to the bay area vs out of state and everyone's situation is different to reach their goals within their own timeline. 

@Ray L'Heureux

@Dave Foster can help out with a 1031 strategy. It's good to start planning early.

@Tove Fox

I can share data and analytics with you in the northern Nevada market. You can let the data decide if it's the right market for you. 

@William Nast

Check out the BP podcast. The have interviews, tips, and tricks to getting started. The @Dave Meyer book Start with Strategy will also be a good resource. Going to networking events is a great place to meet people. You'll never get the confidence to invest from another person or guru. There are many books published by BP as well. Look for books published in the last 2 years as some of the books post 2010 seem to give people unrealistic expectations.