All Forum Posts by: Hersh Shah

@Jay Hinrichs Thats a great list to be proud of and be thankful for!

There is much to be thankful for this year after a rough 2020, but I will keep it short:

1) A successful 2021 in my agent business. Brought on an assistant to grow and continue helping folks build massive wealth through real estate.

2) Being able to attend BPCON2021 where I met some really cool folks!

3) A healthy family

4) My clients & vendor partners that make my job fun

5) BP for continuing to pump out valuable content to help us grow and build whatever we want to go after

@Lelani Toki

Thank you! It’s the most valuable asset we have and something we can’t go make more of! Money comes and goes, but time only goes :)

@William Arrington

Congrats! Thank you for you service and keep at it!

@Daniela R.

Regardless of what your plans are for the home, you should consider the value of the home in as is condition and the “arv” once you do the laundry list of items you mentioned.

If arv is more than purchase price + repairs, it’s not a big deal however is arv is less than purchase price + repairs, you would be upside down.

If that is the case, your agent will be able to help you determine what homes sold for in like condition as well as better condition to help you determine how much the price needs to come down in order for you to make it worth your while.

You mentioned you would save 30 mins in commute time if you lived here. If that’s total/day that’s 2.5 hours/week which would be 130 hours a year in saved time. That 260 hours if that 30 mins is saved one way.

Even if you spend more to buy the home and spend even more to fix it up, is that amount of money worth it to you to save 130 hours a year? That’s over 3 weeks of “time off” from a job. EVERY YEAR!

@William Moya

I believe you are asking the wrong question here. What strategy do you know the best and have the time, energy and skill to execute is a better question.

@Amey Phatale

Their stock price relates to their business which took a massive L in something they wanted to gravitate their business model to.

Beyond that, the industry is healthy and these homes will be swallowed up by the market based on simple supply and demand.

Specifically in my market, there are several other major players that want to buy 500+ homes/year. Z is selling 7k across the country, but even if they were selling them in this market, there are plenty of big whales that can buy majority of them if not all of them.

Now Z can go back to selling overpriced buyer leads to agents which is what caused them to grow in the first place.

@Kundan Chand Unless you knew the cleaner and/or used them before you wouldn't know how good of a job they would do. If you didn't or couldn't verify they could have taken advantage of you. If so, you can ask them to go make it right or give a similar credit to tenant if they had to do it on their own.

Next time, make sure there are checks and balances in place to make sure there is accountability for each person. You can do this via a PM or person you trust. 

@Mindy Jensen Yup! Cant wait to see everyone there :)

@Sanjeev Kumar Welcome to the community!

There are plenty of metro markets in the south east that will give you what you are looking for. Specifically Atlanta, Greenville, Charlotte, Raleigh, Jacksonville and much more.

I would suggest you find a market that you like and zero in on that market until you have a large enough portfolio there. Once you do that, you can diversify by repeating the cycle in a different market if you like. I would advise against multiple markets from the beginning due to the simple fact that it gets harder to scale.

Hope that helps! Welcome again :)

@Lara Nicole ideal is subjective for every person and every situation.

If she knows your criteria and why you are buying the house then her answer is fair based on what she knows about your search. What’s ideal for a tenant isn’t going to be ideal for you as an owner occupant.

Make sure you two are on the same page and you won’t have to second guess the professional you have chosen to help you!