All Forum Posts by: Jeffrey Almonte

I have been a longtime lurker of BP (since 2011) and have seen very active people not post anymore for various reasons.

Some of the big real estate players are in masterminds with other real estate giants. It's a great way to keep each other accountable and discuss real estate with people of the same experience level and goals.

Some other people have shifted their real estate strategies and have found other forums or websites more beneficial for their real estate niche.

Hi @Nicole S. !

Other than CapEx, I would definitely account for higher maintenance and renovation costs. You may have knob and tube electrical wiring, which can be very expensive to replace. Cast iron piping is an expensive repair or replacement too.

Retrofitting old windows and HVAC are more costly too.

I would recommend hiring an experienced property inspector who is familiar with older homes.

Yes, math is important to make sure you are well informed before making a decision. What's even more important is how to get those numbers that you put into a calculator or excel sheet.

As someone once told me, "garbage in equals garbage out".

Spend time understanding where all the numbers come from and that they are valid estimates.

Best of luck, feel free to reach out for any questions or anything I could help with!

Wow, great success story @Frank Wolter . It's very impressive that you own 80 properties free & clear. 

Are your 44 doors with the Plastic Surgeon free and clear too?

Great information already here! Having an LLC would provide legal protection. However, you could also get an umbrella insurance policy instead of opening an LLC and moving the financing (if you have any) to the LLC.

Hi @Jake Mires !

I live in California but invest out of state. There's a lot of great advice here on this thread.

My partner and I made a list of many cities in the US and made an excel sheet to track metrics like population growth, job growth, affordability, Fortune 500 companies in the city, demographics, and other factors. After you narrow down on 2-3 markets, connect with people in those markets and fly out there to immerse yourself in the area.

I highly recommend reading David Lindahl's book called Emerging Real Estate Markets. 

Congrats @Account Closed ! After the first deal, the next deal will follow much sooner than expected.

Congrats @Marc Sinnott on your flip project in San Dimas! Did you find this property through a wholesaler, direct mail, or the MLS?

Hi @Shevon Coorey! I live in CA and invest out of state in the Midwest and Southwest. My partner and I were able to get a 40-unit off market apartment under contract and are about to add another 98-units to our portfolio after this month.

I chose different cities to invest in based on population growth, job growth, fortune 500 companies in the city, affordability, and several other factors. 

I'd be happy to chat and share my experiences and the books we read when selecting our markets.

Welcome to BP @Michael Glotfelty ! I originally started in California but have started acquiring properties out of state for better returns. How has your search for real estate been these past 5 months?