All Forum Posts by: Eric Delcol

@Luke Monahan

Vacation where you want to vacation.  

If you happen to have a beach house on the same beach you want to visit AND you prefer to stay at 'your' house instead of renting - then rent 'your' house from yourself.

@Marc Roth

From a macro level, we are currently in the growth phase of the RE cycle.  

Interest rate hikes will extend the growth phase i.e. it will take longer for us to get to the 'boom' phase.

@Matt Scallions

Flipping can be a good way to build up your cash reserves.  

If you've never done it before (asides from your PR) I suggest you partner with someone who has.  Or someone who knows construction costs and budgets.  

That's a great goal and realistic to achieve.  Good luck!

@Sylvia Asenova

It could be disastrous.  

However, if you find a property where the numbers make sense go for it.  Windsor has a fairly diversified economy.  If you're looking at Windsor you're probably not too concerned about growth anyways as it's more of a cashflow play.

@Anders Jax

What are you using this for?

If for taxes, I suggest using an out of box software program if you're planning on doing them yourself.

Taxes and dep. are most definitely part of the equation.

Yes.

More useful living space is typically considered more valuable.

However, if you convert an area into a 'bedroom' - if the sqft doesn't work for a bedroom, or the conversion isn't to code, or it just looks 'weird' that may actually detract from the value instead of increasing it.

@Anna Smith

That's a very broad question and would change wildly depending on your area.  Think a Manhattan apartment vs. a beach house in Panama City Beach FL.

If you have a specific area in mind there may be folks out there who own vacation rentals in that area who could give you a more tailored answer.

@Hassania Agday

That's like saying "I'm looking to buy a car, which one should I get?"

If you list out what you want in the agreement I'm sure the folks of BP can better assist you.  Depending on what you're looking for I can point you in the right direction myself.

Several years ago we were looking for a new market to invest in.

For us, the water street project was a contributing factor for us choosing to invest in Tampa Bay.

If you invest where the big players are building you're more likely to do well.

Starbucks sets up shop in areas that are growing.  Our properties are always close to one.

 From a macro perspective, for buy and hold, I'd rank these cities:

1) Phoenix

2) Jacksonville

3) Cincinnati

These are all very different markets.  @ 20% down with 100K budget you can find deals in any one of them.  You may want to define your goals a bit better and choose the market that best fits what you're trying to achieve.