All Forum Posts by: Jake Andronico

@Felisha Derrick

Congrats on having multiple properties! What you're posting about does not sound out of the ordinary at all. 

Maybe you don't want to be a landlord or own property? That's completely OK. 

Sometimes getting involved for a few years makes you realize you don't like it. No shame in that. 

But it's only been 5 years since your first purchase. RE is a long term game. 

Taking out more debt does not sound like the best option IMO. Best of luck to you no matter what you decide!

@David Hite

Make an offer with the numbers and terms that work for you. Sellers pretty much ALWAYS want to price on pro forma.

We see it all of the time in Reno, NV. Just the way it is. 

A lot of your offers will be rejected or countered. But, if the seller HAS to sell, you never know. 

We've seen some pretty incredible deals here in multifamily, especially with cash offers. 

@Kevin V.

I'm very sorry for your losses. It sounds like they both loved and trusted you enough to pass down some amazing assets. 

Here are a few things to consider in my opinion: 

1. Why are you interested in holding on to them? Not that it's a bad thing by any means, but is it more sentimental than financial? (Again, nothing wrong with it, but I think answering it truthfully will help guide you to an answer). 

2. What are you solving for? (what's the ultimate goal with RE and investing for you and your family)

3. How much of a headache factor do you want? (completely passive, some activity, very active). 

I wish you the best of luck and I'm sorry for the circumstances, but you're in an amazing position most people only ever dream of! 

@Andre Coleman

Welcome to BP! You're in the right spot. 

"The best time to plant a tree was 20 years ago, the next best time is now."

I'm over the hill in Reno, NV but visit Sacramento all of the time. Cash flow is always possible, depending on what you have to put down. 

I'm 100% bias, but I grew up in Northern California and have lived and invested in Reno for many years now. 

I wanted to find something close to Northern CA with low property taxes, drivable by car, stable job growth, population growth, land constrained for long term appreciation, and more friendly tenant/landlord laws for the landlord. 

It may not make sense for you, but a lot of people are sleeping on Reno still. 

Whatever you decide, best of luck to you! 

@Rama Krishna

Welcome to BP!! A quick word of advice before diving into the forums: 

Appreciation buys more cash flow. There have been some great posts about this very topic.

Here are a couple of helpful articles: 

https://www.biggerpockets.com/forums/12/topics/1171104-the-m...

https://www.biggerpockets.com/forums/48/topics/1159104-overl…

House hacking is the best way to get started in my opinion. 

Best of luck to you!

@Deshen Tang

Do you want to be in control and more active, or completely passive? 

@Matthew Newsom

Cash flow on a house hack? Shouldn't be the goal. You will be disappointed if it is. 

Compare it to your current living expenses. 

Also, how're you improving the property while you're there to help cash flow when you move out? 

I've house hacked twice in Reno, NV starting at 22 and it's completely changed my life. 

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

@Osvaldo Guerra

Congrats on being in your position!! That's awesome. 

But, this is much too broad of a statement. "Class A area in the US" is like saying "I want to live where the sun shines". 

Narrow down the focus even slightly: West Coast, East Coast, Midwest, price point, etc? 

@Brian Scott

Cash flow and house hacking are two different things. When you have a standard rental property (where you do not live), you can calculate cash flow very easily. 

When you're also residing somewhere, it completely changes the equation. 

@Benjamin Carver has a great explanation.