All Forum Posts by: Jonathan Pavkov

I am currently 20 years old in my 3rd out of a 5 year college program. I have been interested in real estate in the background for a few years but in the past couple months I have gone much deeper into it and I would like to start building my portfolio before I get out of school to hopefully get the ball rolling as soon as possible. I currently have about $8,000 in capital after paying for tuition.

I have been researching through books, forums, and this site and my current plan is to house-hack a 2-4 unit multi-family, financed with an FHA owner-occupant loan so I can utilize the 3.5% down, since I don't have a ton of capital to work with.

I am looking for anyone who has gone through a similar strategy and can provide general advice, things they wish they would have done differently, things they did that they would NOT have done differently, etc..

My main areas of question at the moment are:

• How can I effectively evaluate a specific market area to determine a reasonable purchase price and reasonable rent amounts for a property in that area?
• What is a good resource to learn about estimating renovation/ repair costs?
• Fixer-Upper vs Turn-Key properties for first time rental owners?
• How to find good real-estate meetups around my area?
• Major red flags to look out for when analyzing properties?

I am new to this platform but have heard great things about it so I very much appreciate any help you are willing to provide me in getting started on my journey!

I have decided to invest in out of state properties but not sure where to invest. I am thinking about Cleveland, OH and Dearborn, MI since the real estate there are quite affordable and good cashflow for a turn key properties (according to the listing). I don't know if I am missing any detail but the cashflow sounds almost too good to be true (ex 8 beds 4 baths fully occupied $1500/month for a price of $70k). I would like to hear from a local or someone who has properties there if this is true or am I missing something? I am also open to invest in other states please let me know if you have any detail. Feel free to connect with me if you think we can work together. I am looking to purchase a turn key property for less than 200k that also meet the 1% rule criteria for my first property. Thank you for taking your time to answer my question.

I currently drive a beat-up old minivan with 240K miles on it.  Yeah, I sacrificed myself to jump-start my rental business.  I plan on buying the Tesla Cybertruck as my main vehicle.  

Recently, a thought came to me.  Is it a bad idea to get the cybertruck and then let the tenants see me driving in it?

Ok, hear me out.  Every time the cybertruck is mentioned, I always hear people saying it must cost $120K.  It looks expensive.  But the thing is it's only $40K.  One of my tenants drive a $70K truck, so... But that doesn't matter because people keep thinking Tesla = rich man's toy.

For the past year, there's been a lot of hate for landlords flying around.  A thought occurred to me that tenants seeing me drive what they think is a $120K vehicle might create resentment.  I'm afraid they might start thinking "so, this is what my rent is going toward..."

Is this fear warranted or am I over thinking it?  

A possibility is I could continue to drive my old minivan whenever I have to go to a tenant's place and only drive the Cybertruck strictly for pleasure.  A friend suggested this to me.

What do you think?  Do I have to worry about this perception or am I just overthinking this?

@Jeff Hoag

Hi All, I'm a rental property investor(small-just a triplex and a single family residence in LA) but i just moved to Sac and interested in investing here and OOS. Possibly Indy, Ohio, and ???

Would LOVE to connect with other investors! Sacramento seems impossible to find a good deal but I'd still like to try. If anyone is interested in coffee or a meet up, hit me up.

Looking forward to meeting other Sac real estate enthusiasts!

-chilly

@Account Closed - I was in your exact shoes about 5 years ago. In San Diego, renting, owned no property. My roommate told me about BP. I now am a full-time real estate investor and I've been on the BP podcast. I invest out of state for my rentals and in-state for flipping and developing. I also do other investing including software and startups. 

Think about building a rental portfolio out of state in a growing affordable market. Affordable is key. You can do the house hacking thing in SD but if that is all you ever do are you really a real estate investor? I have never thought of anywhere I lived as an investment, it's a place to live. So I would focus your efforts on truly being an RE investor if that is what you want. 

I've been there, I did it, and I'm on the other side of it. I can tell you that it'll be hard at first. You have to pick a market, build a team, and it won't always go perfectly, far from it. But it is SO WORTH IT!