All Forum Posts by: Corey Lyons

@John Kirkman

Thank you! Know the rules and play just barely inside them! I love that mentality. Do you have rentals out in Joshua tree? I lived in 29 for a few years and wish I had bough property out there.

@Andrew Syrios thank you for the advice. Good to hear that i'm not the only one seeing that 1% rule is close to impossible in Ventura. I am on the same page of being cautious and trying to find a great deal but not getting stuck in analysis paralysis. That's what all of the people at my most recent meet-up have preached so i'm taking it to heart. 

Thanks!

@Benjamin Aaker Thank you for the reply and insight. I concur it seems to that the more units the less the market has fluctuated the only flip to that is when sellers are not well versed in that or their agent has never sold multi-fam and they end up trying to sell it at the same rate as SFR properties. Off market deals here i come! haha

Thanks again.

@Cody Bacon Thank you for responding!

Great to hear and i would love to link up, ill message you. 

I appreciate the input and would love to discuss all of it.

I'm also interested in your opinion on being AD and a real estate agent. I have finished my courses and i sent in my application to the DRE 18MAY just waiting on a response to take my state exam. How do you balance both careers?

Thanks!

@Dan H. Thank you for the reply. 

In regards to your properties reaching the 1% rule, are they SFR or Multis? If so what sizes?

Great point on hacking/BRRRR. I'm looking to get a 3+ unit live in and rehab one and then rent that unit and do the same to the next unit until they are all improved. Do you have any other exit strategies that come to mind given VA loans have poor LTV ratios? I was thinking hold onto prop for a minimum of 10 years or until down to 60% LTV then consider refinance or sell. Could you go in more depth in regards to the FHA sustainability factor?

Thank you again Dan!

@Marc Rice Great mentality, thank you! I have been focusing on triplex/ quads because they seem to be the ones that cash flow. I’m going to look into local laws on ADUs because almost all the properties have garages. The airstream camper is a great idea too.

Have you ever heard of people renting out garage space for storage?

@Andreis Bergeron I appreciate that! I’ll shoot you a PM now!

Hey guys!

Long time lurker, first time poster!

I live in Ventura, Ca and the market is through the roof like most other markets. The rent i currently pay is WAY more than id like to and i would like to get started on my real estate investment journey, perfect timing right!? 

Not too fast... When running the numbers on houses in the local area the numbers don't ever seem to line up for a sound rental/house hack investment. The 1% rule never seems to apply, i've found a few that cash flow but they are still way off the 1% rule. What do you recommend i do?

1. loosen up my parameters a bit when it comes to numbers.

2. Wait for the market to settle a bit.

3. completely switch up my strategy.

4. Something else.

PS: my main reasoning for wanting to house hack as my first strategy is im cash poor but i'm active duty so i have a VA loan in my resources. I have zero debt and great credit just not alot of reserves. So i'd prefer to property manage myself to reduce expenses and handle repairs at the lowest level because im extremely handy.

Any input is greatly appreciated.

-Corey