All Forum Posts by: Jonathan Pavkov

@Jonathan Pavkov I wasn't sure if I would miss the summer window in which most families are looking to move to a new school system. That was the only reason why I considered this timeline. For everyone that has commented thank you! I am going to begin looking at ReFi options. 

The single-family home rental business is less profitable this year compared to last year across most of the country with yields decreasing due to increases in cost of living. That is why it is more important than ever to be selective about where to invest. Our clients tell us that they appreciate how we help them assess market risks and profitability. 

I wanted to share an article regarding the best and worst areas to invest in single family homes in America. A summary of the article is below.

-Some of the best locations for SFR investments and metros with the strongest yields in 2020 include Baltimore, Dallas, Fort Worth, Cleveland, Columbus and San Antonio.

-Metros with the weakest returns in 2020 include Nashville, San Jose and the San Francisco Bay area.

https://www.millionacres.com/real-estate-market/articles/these-are-the-best-and-worst-places-to-buy-a-single-family-rental/

The single-family home rental business is less profitable this year compared to last year across most of the country with yields decreasing due to increases in cost of living. That is why it is more important than ever to be selective about where to invest. Our clients tell us that they appreciate how we help them assess market risks and profitability.

I wanted to share an article regarding the best and worst areas to invest in single family homes in America. A summary of the article is below. 

-Some of the best locations for SFR investments and metros with the strongest yields in 2020 include Baltimore, Dallas, Fort Worth, Cleveland, Columbus and San Antonio.

-Metros with the weakest returns in 2020 include Nashville, San Jose and the San Francisco Bay area.

https://www.millionacres.com/real-estate-market/articles/these-are-the-best-and-worst-places-to-buy-a-single-family-rental/

Hello,

I'm looking into a cash-out refinance for a property that I own (held in an LLC). I found an appealing conventional loan. However, to get the most of it, it would require that I take the property out of the LLC. In particular, I would get 10% more LTV (70 rather than 60%) if I took it out of the LLC.

I would be able to transfer it back into the LLC at closing with no repercussions on the financing (or so the loan officer is telling me).

But I'm wondering if there are any cons to doing this? E.g. I read somewhere that this could possibly count as the sale of the property and prompt sales tax (e.g. as described in this article here). Besides that, I'm wondering if there are any pitfalls I should look out for. 

For more context this property is in Columbus, OH (in case the repercussions are more state-specific).  

Thank you in advance!

I am looking for advice on what I should do if I want to sell my home if I have not lived in it for 2 years yet. I live in Austin and the housing market is insane and I want to sell my home and move to a more affordable area and enjoy what the money could provide in terms of size in a different state. Should I convert the home into a investment property and 1031 it? 

Hi Everyone, 

New poster/investor here, but we have been learning a ton listening to the BP podcasts and combing through all of the helpful articles and forum conversations. 

We recently purchased and renovated our first rental property and are looking for a CPA with real estate experience. We'd like to work with them to make sure we are using all of the tax advantages that come with an investment property. We're located in the Metro Detroit Area and welcome any helpful tips.

Thank you 

Mike.

Hello BP community, 

I am a resident of Columbus, Ohio, and a newbie at this. I want to invest in a cash flow property, ideally Columbus would have been better for a start, but I have been outbid twice so far. My attention has turned to Cleveland, the question is, what does the community here think of this city? I have seen some old posts, like 3 years ago, the replies were mixed. What’s the consensus on the Cleveland market right now? 
thank you! 

Hello BiggerPockets!

I am excited about starting my REI journey this year! I live in San Francisco and looking to invest out of state using BRRRR strategy. Brandon says he doesn't like the question "What is the best market?" because "the best market is where you have your team". The problem (or the opportunity) is that I don't have a team yet so I am free to choose the state/city/area.

I know it will be challenging to implement fully on the first deal but this is what I am aiming for:

- Get a full refinance and take all the spent money out of the deal. So that would require the 70% rule in my understanding.

- Have a mix of appreciation and positive cash flow. So I am thinking a B- neighbourhood would be good.

- Invest $20k-$30k with a conventional loan. So I would imagine it would be a $50k-$75k house ($10k-$15k down) and average renovation (good foundation, walls, roof, electrical, plumbing, and $10k-$15k for the rest). So the renovated house would have the appraised ARV of $90k-$130k.

I am not sure what would be a good market for it (if any) but I am considering at Memphis, TN; Birmingham, AL; Oklahoma City, OK; Rochester, NY; Pittsburgh, PA; Cleaveland, OH;

Would appreciate any tips on what could be potentially matching markets for my criteria! Also please let me know if any of my plans/calculations are missing something.

Thanks!

Sam

I'm a beginner wholesaler in Ohio and my attorney said that in order to do an assignment I need funds to close on the property initially then if I want I can assign the contract to an end buyer. I'm just starting so I don't have Funds available. So instead of doing an assignment could I do a dry double escrow Closing where the end buyer will bring funds to close both AB and CB transactions? 

Do I have to bring wet Funds to close the AB transaction or can the buyer fund both transactions?