All Forum Posts by: Brian Singh

Thank you for the reply and advise really appreciate it. I am buying one property to test the market out and build the team to see if it make sense for me to expand here. I am in two markets Las Vegas and soon Indy. 
Las Vegas is on fire so very hard to find good deals. Indy is a mixed bag, so seem I may need to go down there and spend a week to understand the area.

From weather damage snow is the biggest issue it seems . What kind of heating usually you guys provide the tenant .

Also septic tank seems common , so when buying a place are you guy doing a separate inspection of that or that is covered by city/County

Hi BP members

I am looking into a buy and hold strategy for cash-flow and Indianapolis are looks reasonable .

I am looking at C+ abd B area SFH.

As I look to build my Core 4 I wanted to hear experience out of state investor have had here and share any info .

Realtor - What is the typical support you can expect ( i know it depends on each realtor) : Do they help find you the deal or you just pound the MLS and let them know which proprty you like and they check it out for you.

Property management co: I am looking in the suburbs of south indy . What is the typical management fee they charge and for repairs what has been your experience. 

Handyman/Contractors- Do you let the property management co handle that or you have your own guys .

Home buying
Inspections: Is there something specific for Indy you have to look at - Radon, septi tank etc .

Home type- I am looking for 3Br 2 Bath - what is the most prefer type of house that tenants with family prefer there.

Thanks

Brian

Checking in after 6 months and a lot has happened so lets see if bay area crash 2021 will be a thing .

First crash is 25% price drop in 12 months.

So of the bat , answer is no.

Correction 10% .. answer is depends on the property.

Single family.. no

Apts, condo, multi.. yes yes.

Inventory to come back June afterwards, September should be the peak .

Buyer demand remains low for non SFH.

Remote work is official till sep 2021.

CalExit is real ....

I did a similar thread bay area crash 2020. Look at how I went about looking at bay area demand destruction and the pushback I got from local investors. It was a fun and interesting discussion . 

https://www.biggerpockets.com/...

Will price correct yes, will it crash ( more than 20%) depends on the market. 

Crash market uptil now that are going to feel it

1. Las vegas
2. LA
3. SF and nearby area
4. Seattle
5. New York

rest is local

I am going to wait till December before I put in 500k just for fun in bay area market ; and see if my opinion is correct or FOMO group wins .

I dont think market is going up but we will see in 6 months. Part II of this post to come there.

Time for me to find another market to invest in the meantime.

@Account Closed please feel free to correct me as I can learn the bay area .

Best case 8% return , if prices are going at 2017 level that is 10% less asking then a loss.

8% safety margin. Seems too thin . Other experienced flippers what do you think ?

 Great question: to answer it we need to understand or make an intelligent guess who are the investors:

If I were to say equity yield chasers  - Florida and Texas. 

@Account Closed I was neutral but I am starting to lean towards market crash now ( 20% correction by Dec 2021). I dont see any real arguments except FOMO to sustain the bay area market. There seems to be so much demand destruction

1. Start-up Job losses

2. H1B folks gone

3. Work from home

4. Tech IPO failing ( Slack, AirBnB, UBEr, Lyft etc etc ) Even softbank took a $ 12B hit and had to sell T mobile stocks.

As for your flipping business , I said before in RE you make $ either by adding value or buying at the right price. I dont have time to do a major rehab, I do this in my free time. So I focus on buying at the right price.

That is what I am doing here is price discovery and I think the price of Bay area is 2015 prices. Bad rescission 2012 prices . Max prices will go up in next 5 years 2018 level.

If you dont mind can you can DM me the zillow link to your friend's rehab. Would love to see the price point she entered and what she got ARV. hopefully its not 2018 as we have seen that was the top of the market recent last 3 months would give credence to your argument.

Real estate moves slowly and I think the world has changed too fast and buyers are looking for tomm prices and sellers are still stuck in 2018

Thanks

Bay area start-up layoffs since march 2020 - 25k now. to put this in perspective. Facebook has around 30k employees 

More demand going away