All Forum Posts by: Carlos Ptriawan

Carlos Ptriawan has started 84 posts and replied 7088 times.

If you examine all of these questions, which we all read every day, there are a couple of apparent things missing that make them impossible to answer:

1. skin in the game

2. research done before posting

3. why the poster is asking (background)

4. camaraderie (just give me what I want, I have nothing to offer)

YUP!

Some of our answers are also very funny too, lets summarize :

1. everyone should move to Cleveland or Columbus Ohio

2. Never invest in Blue, Yellow, White State

3. Sell everything in 401k to buy real estate

4. Sell your momma stock to buy $75.31 cash flow rental

5. Get your buyer list from Propstream and call them everyday

6. Wholesale,wholesale,wholesale

7. Ditch the MLS, there's myth of off-deals market

8. Buy your 4 units somewhere in Alaskaville near Juneau , do remote self managing from San Diego

9. Whatever happen in the economy, home price is only going up and up

10. Invest in syndication, for a guaranteed income, it's secured by real estate you know, imagine 123 Main Street New Yor as collateral.

6 Votes

Quote from @V.G Jason:

Quote from @Carlos Ptriawan:

some more valuable data :

several suburbs and smaller cities have seen significant population growth in the years following the COVID-19 pandemic, particularly those located in the South and West regions of the United States. Some of the most notable examples include:

Georgetown, Texas - This suburb of Austin was the fastest-growing large city (50,000+ population) in the U.S. for two consecutive years, with a growth rate of 14.4% from July 2021 to July 2022, reaching a population of 86,507 . Georgetown's population has increased by over 19,000 since the 2020 census.
Leander, Texas - Another suburb of Austin, Leander had a growth rate of 10.9% from 2021-2022 and was among the top 5 fastest-growing large cities . Its population increased from 60,848 in 2020 to 74,375 in 2022 .
Queen Creek, Arizona and other Phoenix exurbs - The Phoenix metro area surpassed 5 million residents in 2022, with much of the growth concentrated in far-flung exurban communities . Queen Creek and other suburbs like Buckeye and Maricopa were among the fastest-growing large cities with growth rates over 6%.
New Braunfels, Texas - Located near San Antonio, New Braunfels had a growth rate of 5.7% from 2021-2022 and a total population of 104,707.
Montgomery County, Texas - This suburban county north of Houston grew by 4.3% from 2021 to 2022, part of a 47.7% population increase since 2010

When the absolute value of the city is so small, the percentages appear huge.5% growth rate from 100k to 105k really isn't going to attract industries or shows true tangible growth besides folks just being pushed out of Austin and SA. New Braunfels is a neat little STR spot and some folks have decided since covid to retire there.

New Braunfels, Leander, Georgetown I bet are getting a bit more attention now then before but they aren't bustling. Same applies to Queen Creek and Buckeye. A small to large cap company is still going to post up in Phoenix or Austin than Queen Creek or Georgetown. I still will bet on the primo areas of Phoenix, Austin over the suburbs.

I researched this very quickly. The gaps are not that different. Georgetown/Leander median is about 400-450k and Austin is about 550k-600k. It's just Georgetown,TX has a better school district.

It's not like Cupertino 2 mil houses vs Modesto of 400k lol, it seems outside CA the gap is not that wide.

Queen Creek,AZ median is 600k while Phoenix is 450k. So it's not about price.

All these data points are very interesting...

0 Votes

Raleigh, North Carolina

Quote from @Vera Shokina:

What do you find as the best data source for house prices? I notice significant difference (up to 20%) for the same property on Zillow, Redfin and Homes.com. Zillow consistently shows prices much higher than Redfin, for example. Which site is the most accurate to estimate the fair value of the house based on your experience?

they are both accurate. Zillow use the listing price, however. Redfin has more data related to neighbors. They are still within one standard deviation.
For Zillow and Redfin what really matter is the price chart trend of the neighbourhood and not the price itself.

1 Vote

Quote from @Jim K.:

I was raised in poverty. The kind of thing you only really see in America today in families with trauma and mental-health issues, traditionally where the pop refuses to get help and the mom refuses to stop enabling him. A big part of this was the belief that there simply wasn't any way out of the situation I was in except maybe a very narrow educational out to the middle class.

The first rule of life for me was to HAVE RICH PARENTS. If you broke that first rule, well...what could you expect?

I never thought I would someday laugh at this idea, as I do now. And that educational out, you know, where you get a degree that offers you upward job mobility, where you move into a big house, and you drive an expensive, late-model car? I know that can be a trap for many now, because, to put the shame of their impoverished pasts behind them, they take on oversized mortgages and car payments and loads of lifestyle expenses that keep them living paycheck to paycheck forever.

What have you had to unlearn along the way to achieving your own goals? What limiting beliefs surprise you the most when you see them in others?

my dad told himself that sky is the limit, I think I am having the same attitude.

our parent doesn't matter at the end , it is our mind that shapes everything

I think in my case however I can forecast thing pretty good and strategizing for the future lol

1 Vote

TOP TEN QUESTIONS ASKED ON BP THAT HAVE NO CHANCE OF A BENEFICIAL ANSWER

10. Where is the best place to invest?

Based on the information from the BiggerPockets forum posts, some of the best places to invest in real estate that were frequently mentioned include:

Ohio - Specifically cities like Cleveland, Akron, Canton, Columbus, Cincinnati, Youngstown and Toledo. Ohio is noted as being popular for out-of-state investors from New Jersey.

North Carolina - The cities of Raleigh and Charlotte in particular are considered good for property appreciation. Wilmington, NC was also mentioned as a potential investment location.

Virginia - Richmond and Virginia Beach were suggested as investment options, especially for an investor located near those areas.

Florida - Jacksonville and Tampa were two Florida cities mentioned, although there was a concern about rising insurance costs in Florida.

Tennessee - Both Knoxville and Memphis were listed as possible 2024 investment locations by one investor

9. Where do I find a buyer’s list?

PropStream - If you use PropStream software, you can find out who the cash buyers are in a specific area

8. Does anyone have a real estate contract I can use for wholesaling in American Samoa?

LOL

7. I’m looking to partner with someone who has money, experience and expertise and a property to flip. I’m willing to go 50 - 50.

LOL

6. I’m new to real estate investing. Where do I begin?

5. I’m going to virtually wholesale properties in Montana from my home in Florida. Anyone know where I can borrow earnest money?

there are a few options for borrowing earnest money when you need funds to get a property under contract:

Gator Lenders - This is a company that specifically lends money for earnest money deposits (EMD). They will send the EMD to your title company and charge you a percentage of the amount borrowed. For example, if your EMD is $2,000, they will lend you that amount for a fee.

Borrow against stock portfolios - If you have a stock portfolio or retirement accounts, most brokerages will allow you to borrow up to 40% of the portfolio's market value. This could provide funds for an EMD without needing a personal loan.

Bridge loans - While not specifically for EMD, bridge loans are a short-term financing option that can help fund a purchase before you have access to longer-term financing or funds from selling another property

4. I’ve put together a 365 page business plan for my real estate investment company. Can you critique it?

3. I've started a real estate investment company, and have my LLC. Where can I borrow unsecured capital in the name of my LLC with no personal liability?

2. I have no money left, my property is worth less than I owe, and need $70,000 of rehab left. Anyone know of a contractor that will work with me?

1. If I start with no money and no experience, how long should it take me to have enough income to replace my salary and retire?

It will likely take at least 3-5 years of focused effort to start generating significant cash flow from real estate, even if you use leverage (financing). Most properties take a few years to appreciate and cash flow well.

Replacing a $60,000 annual salary would require around 50 rental units, assuming $200/month net cash flow per unit after all expenses if self-managing. With partners or a property manager, it would take more units.

To get to $10,000/month ($120,000/year) in mostly passive income, you may need 50-100+ rental units depending on the cash flow. Building a portfolio of this size takes significant time and infrastructure.

Wholesaling is one way to get started with little money, to gain experience and capital for rental investments. But wholesaling is active income, not passive.

With a good savings rate, you could replace your income in under 10 years through rental properties, but it will take a lot of hard work and not be fully passive.

11 Votes

Quote from @Chris Seveney:

@Carlos Ptriawan

Haha

An excellent spreadsheet has been able to do this for 25 years.

like Lotus 123 ?? :)

haha spreadsheet is so 1984...

0 Votes

Little Rock, Arkansas

Quote from @Bruce Woodruff:

I'm in the 'don't trust AI' camp. It ain't that hard to do the math ourselves......is it?

they already replaced google lol , as math is too easy to be replaced. Seriously I was n't think it would be this fast.

0 Votes

Little Rock, Arkansas

If you have negative cash flow for $1300 a month or 15k a year ; you have to offset this with 30k equity appreciation a year.

Looking at SSF however, highest ZHI avg SF was $1,382K ; now median is $1,250k. I am probably would think to sell before that capital gain tax or when price is hit $1,3 again. The appreciation models only 3%-4% for SSF which is normal for 1 mil avg houses.

Do not do ADU stuffs.

0 Votes

San Francisco, California

Quote from @Elijah Skinner:

I'm curious to what everyone thinks. Is there one area that is typically viewed as the best option for house hacking? Are there a couple markets?

I know the consensus is "The best market is the one you're already in" but I'm just curious.

If you could start over anywhere with a decent chunk of money and a solid house hacking strategy, where would you choose?

The best for Househacking is where real estate is expensive with lot of high job growth so you live in high growth mode for free.

1 Vote

Quote from @Ashley Madalone:

I don't think it's a trend, I think it's the reality of the population explosion. There simply isn't enough housing to keep up with the amount of human overpopulation. However, "Location, Location, Location" will always be important for real estate because you can't just duplicate a location. You can always duplicate a house, but you can never duplicate a location. If people need to be in Manhattan, they will pay Manhattan prices, regardless. There will never be a new Manhattan, that's why it holds it's value so well. However, if people can't afford Manhattan, they will move along to somewhere they can afford. Boohoo, that was me! Lol, I ended up in Delaware and that migration of people from NY, NJ, MD, PA caused Delaware's prices to double in what feels like overnight. Investors are always going to gentrify an area, that's how they make the most money. In turn, folks will always flock to the next new shiny object, especially if it's affordable! So I don't think it's a trend, I think it's the reality of the play between the population explosion, gentrification, and affordable housing. My hope is that developers invest with ethics in mind because they are driving people to local governments that are not ready to sustain them. Our little town was unprepared for the influx and has just decided to raise taxes 100% causing a lot of unhappy townspeople. Now, we have the highest tax rate in the state but we don't have the best schools, amenities, or location.

There's really no population explosion in USA.

Population is actually reducing but as money circulated is growing fastre than population, that drives up the real estate price. It's more like explosion of money, but income actually stagnant as well hence these are weird combination.

Actually in bay area we could see traffic more busy on tuesday than monday and friday. People only start working on tuesday. Also there're more traffic outside the city where the office are compare to traffic inside the city. Most office building inside the city is actually ..... half empty. They said there're lot of layoffs, but all stocks are at all time high. lol

It's dystopian world. Like a phenomenon that one can't describe or decipher easily.

Or probably people is really living in cloud with their 5g everywhere lol

0 Votes

Raleigh, North Carolina

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All Forum Posts by: Carlos Ptriawan

Carlos Ptriawan has started 84 posts and replied 7088 times.

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