All Forum Posts by: Jake Andronico

2. You usually need to make an offer before seeing the inside of the property. These are different than single family vacant homes, as usually they have tenants. The seller does not want to spook tenants and notice them (typically) for a buyer who may not be serious. In about 90% of the transactions, we have investors put in offers sight unseen (the inside). BUT, you can get OUT of the deal if you don't like what we see. That's always written into the contract.

3. There is a Nationwide record high supply of Class A inventory available for rent. This is NOT the time to push rents. Professional photos and ample marketing are critical to achieve rents. The days of 6 applications in 5 hours with 3 crappy photos are long gone. (This is obviously nuanced and market specific, but just a fair warning).

4. Have more reserves than you think may be necessary. More toilets, heaters, AC, etc.

5. Insurance issues have arisen on properties that're older than 30 years (at least here in Reno). Having insurance connections is crucial when you get into escrow.

I hope this helps!!

0 Votes

@Eric Blair

Definitely!! It's the best way to mitigate payment currently.

But, as Austin said, you need to cover the difference between the purchase price and the loan balance.

0 Votes

Montgomery, Alabama

Quote from @Kerri Asekeme:

Is it a good idea to get my real estate license to have access to the mls?

I am seeing how much profit is going to my agent. I'm thinking to get my license so I can buy more properties. And possible even sell my own as well.

Anyone else doing this?

I bought with agents long before becoming one. If you want to scale, you need to shift your question to not "how?" but "who?".

I became an agent because it's how I wanted to make a living. I think finding the right agent for you is crucial, but "saving money" is not likely if you don't know what you're doing.

There are a TON of things I've learned and would've done differently on my own rentals after learning the business in depth for multiple years in single family and multifamily.

Lack of knowledge will cost you, not commissions.

The largest investors I know build relationships with brokers/agents and sometimes offer MORE commission to incentivize them to bring them deals first.

But if you want to get into the business for your income, I wish you the best of luck!

0 Votes

Austin, Texas

Didn't expect to tear up in the forums... Wow. I'm so so sorry.

Certainly puts things into perspective. I hope Angie and you and your family are in the best spirits possible. Sending love and healing your way.

I respect the hell out of you having the courage to share this.

3 Votes

Casper, Wyoming

This graph shows Nationally the number of Unsold Completed New Homes for sale, which is the highest level since 2009.

Nevada (Statewide):

Both of these graphs come courtesy of ResiClub data. Curious of inventory levels in your area. Drop them in a comment!

1 Vote

Reno, Nevada

@Miquel Julia

Love the idea! I've grew up in the Bay Area but moved to Reno, NV to live and invest. Wanted to be close to the Bay Area and Tahoe.

I've house hacked twice here and it's changed my life. Here's a rule of thumb:

The more comfortable you need to live, the worse the numbers will be. The more uncomfortable you're willing to live, the better the numbers will be.

Here's what I learned and what I regret after doing it twice:

https://www.biggerpockets.com/forums/922/topics/1133476-hous...

3 Votes

San Francisco, California

Quote from @Eric Fernwood:

Hello @Jake Andronico,

Whether new construction is a good option depends entirely on your target tenant segment. In investment real estate, everything depends on having reliable tenants occupy your property. Reliable tenants pay rent on schedule, stay for many years, and take care of the property. Reliable tenants are the exception, not the norm. However, there are tenant segments with a higher concentration of reliable people than others. Success depends on buying properties that attract this segment.

So, reverse the approach. Instead of focusing solely on the property and hoping it attracts reliable tenants. Start by identifying a tenant segment with a high concentration of trustworthy people. You identify this segment by interviewing property managers. Once you know what and where this segment rents today, buy similar properties. This approach dramatically reduces the dependence on luck and opinions.

This approach mirrors how national retail chains select stores and localized offerings. They don’t pick a store location and hope customers will come. Instead, they identify their target customers and open stores near them. They also adapt to local preferences. For instance, McDonald’s offers spam and poi in Hawaii and wine in France.

Does new construction make sense? It depends on the tenant segment you want to attract. We've focused on the same tenant segment in Las Vegas for over 17 years. New single-family homes in desirable areas start at $550,000, but our target tenants can only afford to rent properties priced between $350,000 and $475,000 today. While new construction might seem appealing with its lower maintenance costs and move-in-ready condition, these properties typically attract tenants who stay just one to two years. In contrast, our target tenant segment stays an average of over five years. So, new construction is not a viable option in Las Vegas.

Interesting approach. I like it!

0 Votes

Reno, Nevada

Quote from @Gregory Schwartz:

Bryan / College Station Texas. Rough population of 250k.
Average appreaction of the median home price: 4.96% (since 1990)

Median home 1990: $62,015. Median home 2024: $314,278

My favorite stat... only 3 years with negative growth:
1997 -0.91%
2002 -0.65%
2011 -0.51%

Source: https://trerc.tamu.edu/data/housing-activity/?data-MSA=Colle...

Heard great things about that market. Good stuff!! Thank you for sharing.

0 Votes

Reno, Nevada

Quote from @Becca F.:

I thought the graph on Reno was interesting. I picked two cities in the San Francisco Bay Area.

For San Francisco, this article used a 111.5% appreciation over a decade, with 7.79% per year.

https://www.doorloop.com/blog/san-francisco-real-estate-mark....

In 1990 the median home price in S.F was $258,920. It was $1,398,750 in Feb. 2025.

https://compasscaliforniablog.com/what-bay-area-home-prices-...

If I did a deeper dive into the neighborhoods in S.F. the median prices would differ with higher prices in more desirable areas. People were moving out during COVID and in 2023 to suburbs or out of state.

In Santa Clara, median sales price in 1990 was $245,670 and in 2024 it was $1,900,000 (the AI boom was a factor, according to this data). People really like suburbs near Silicon Valley.

https://www.compass.com/marketing-center/editor/v2/flipbook/...

Some of graphs have it labeled the dot.com boom around 1999-2000, with 32% increase, then the subprime crisis of 2008 to 2009 with -20%. There was a 9% increase in 2024.

There are many more graphs and data but I won't bore everyone lol

Super cool stuff. Always interesting to look at a longer term view than the last 10-15 years after the crash.

0 Votes

Reno, Nevada

All Forum Posts by: Jake Andronico

Jake Andronico has started 43 posts and replied 1030 times.

Post: Just getting into the game

Post: Multifamily Newbie Here

Post: Is assuming mortgages a good strategy?

Post: Getting real estate license

Post: This is why I invested.

Post: Is Inventory Really That Low...?

Post: Is HouseHacking in the Bay Area realistic?

Post: New Builds are Actually Good Deals Right Now...?

Post: Average Appreciation Rate Since 1990?

Post: Average Appreciation Rate Since 1990?

Jake Andronico has started 43 posts and replied 1030 times.

Rounded Star Post: Just getting into the game

Rounded Star Post: Multifamily Newbie Here

Rounded Star Post: Is assuming mortgages a good strategy?

Rounded Star Post: Getting real estate license

Rounded Star Post: This is why I invested.

Rounded Star Post: Is Inventory Really That Low...?

Rounded Star Post: Is HouseHacking in the Bay Area realistic?

Rounded Star Post: New Builds are Actually Good Deals Right Now...?

Rounded Star Post: Average Appreciation Rate Since 1990?

Rounded Star Post: Average Appreciation Rate Since 1990?

Post: Just getting into the game

Post: Multifamily Newbie Here

Post: Is assuming mortgages a good strategy?

Post: Getting real estate license

Post: This is why I invested.

Post: Is Inventory Really That Low...?

Post: Is HouseHacking in the Bay Area realistic?

Post: New Builds are Actually Good Deals Right Now...?

Post: Average Appreciation Rate Since 1990?

Post: Average Appreciation Rate Since 1990?