All Forum Posts by: Faisal Farnas

Jay what a coincidence, I finished reading your book a couple of weeks ago! Didn't know you were on bigger pockets! Great to hear from you!

Even with my limited experience with real estate, so far I see that it gives back as much as you put into it. This is the opposite if my engineering job! I will be a busy guy alright :) turning all the job set backs into more motivation!

Every time I get passed for a promotion, I am going to close on a property.

Every time my boss tells me the economy is bad and I won't get a raise this year, I will read a real estate investing book.

Every time I get micromanaged, I will make an offer on a property.

Every time I get stuck in rush hour on my daily commute to the 9-5, I will make it a point to expand my team of contractors and handymen.

Every time I get a rejection letter/email, I will be even more hungry to acquire my next multifamily! 

What is your motivation?

Anything worth investing in in st petersburg these days would require rehab or at least TLC. Prices have gone up too much the past 2-3 years.

Don't get me wrong, there are still good investment opportunities, just not turnkey with 5% down.

Thanks for the quick response Sue! Yes it is fenced, but I will still talk to my agent just in case.

hello,

I bought a house that came with a big swing in the backyard. It seems sturdy but I have not really tested it out. Now that I have the house rented, I am worried that someone might hurt themselves using it and come after me. I verbally warned them about the swing, and also had them get basic renters insurance (it is in the lease). 

What else should I do to minimize liability? 

i use Dustin Quigley 

+17274856618

He is efficient and very affordable. I pay him via PayPal. 

Thank you everybody for the thoughtful responses. 

@Logan Allec kid nailed it though! That is why the more I learn about real estate the more I like SFH more than condos and apartments!

@larry woods here is the address

I am questioning why there isn't an increase in price over a 35 year period ( i think you misunderstood my original post)

Hello, I am just looking for some advice from more experienced investors. I was casually browsing Zillow and I see that this 2/1 condo in Saint Petersburg, Florida hit the market. It is in an OK area. 

Looking at the Price History below, a few things stand out:

1) The appreciation from 1981 to 2015 (35 years) when it was sold was around negative $5k! That is terrible. Why is that?

2) Seems like someone purchased it and remodeled it, and offering to sell it for some profit. Is the investor who is going to buy this going to have almost zero appreciation as well, based on the history?

Typical SFH a few blocks south appreciated by more than 200% over the same period. This does not make sense to me. Can someone offer any explanations?

Thanks