All Forum Posts by: Lucas Bernard

The 1% rule may not work too well depending on where you are looking. It's really meant as a quick standard while scrolling through potential options. In my experience as of late, most 1% rule conforming properties in cash flowing areas have other underlying issues (bad neighborhood, etc). Whereas 10 years ago, when the rule was created, there were (apparently) more 2% conforming properties than you could shake a stick at... 

Hey Kenneth, I'm in the same boat. It seems like a fine line between being aggressive and making sure you don't settle for a poor property just because you want to get your beak wet. I wish you luck!

 That was a really concise and helpful response, thanks Andrew! Househacking a multifamily is my preferred starting point once I move back east, for the exact reasons you pointed out. Would love to connect and hear more, I used to go to Worcester all the time to visit my friends at Holy Cross! :)

 Hey thanks for the info Anthony! I'll start doing some digging of my own and see what I can find. Compared to what I have seen, I will say that cap rate is pretty low, even for this market. I am new to this though, and could be taking that out of context.

Hey folks, I'm originally from the Boston area and spent many a summers in Westerly, RI, so I'm familiar with Providence to a degree. I keep seeing it, as well as Worcester, pop up on sites as a top cash flowing city. Is that just a bunch of malarkey or are there actually opportunities back east? I feel like up until now I have been directed towards the Midwest or down South, and been told to steer clear away from back home. Cheers!

Hey Joshua, realize I'm a bit late to the ball here but I also just moved around the South Bay area. I'm in a similar situation, I'd be interested to hear what you've found so far!

@Tony Zhang If the past is any indication of the future, I'd say interest rates are only going to continue to rise. Right now interest rates are still pretty good vs historically, although that could change very soon.

Hey @Max Busca, I'm also from the East coast (Boston sports fanatic) and plan to invest in whatever market I move to once I'm done with the Bay area in less than a year. Would love to connect and have some back and forth on sports if you're still interested.

Hey Carson! I'm a recent grad who also lives around the valley and I'm in a similar situation. I've been expanding my network but finding good deals for a BRRR as a newbie seems like an almost impossible task. The market is still red hot, and those without systems in place where deals are brought to them are at a distinct disadvantage. This is why I've begun considering out of state, somewhere that is growing but has less appreciation and more cash flow. I'd love to connect!

Hey Mike! I actually just graduated from IU Bloomington so I am relatively familiar with the area. You're certainly right to say it is not a huge Airbnb destination (except for those big weekends like Little 5, homecoming, etc...) , but the school accepts more people every year, so if you could ever see yourself investing in short-term student rental properties then that's the place to be! 

I'm new to real estate as well, and my goal is to do my first BRRR property soon. Appreciate the callout on rental arbitrage, I'll have to read up on it more myself. Would love to connect sometime and hear more about how your journey is going.