All Forum Posts by: Justin Tahilramani

Thanks everyone for all the good advice. Very much a novice but selling a condo in San Francisco, probably got lucky and getting out at the right time ( my perspective ). I have to identify properties by July 15th then have 180 days to close after that. I can afford to float some months but don’t think I want to assume the risks of leveraging out to 1.6 million. For markets I’ve been thinking smaller secondary , maybe Memphis ( which I’m a little familiar with ), Cleveland.....definitely not California. Would love to hear thoughts on any other markets that will probably hold value post coronavirus.

Have you considered North Carolina. We have a very recession resistant market here in Fayetteville.

1 Vote

Originally posted by @Max Householder:

I like that approach Justin. My wife and I have been thinking about a farm/rec property. We were thinking paying cash would be the way to go and then try to find one or two income streams we could get from the property that overtime offset the holding costs which when paying cash would be basically the taxes and not much else. Between hay, timber, maybe plant an orchard, berry patch, pumpkin patch, Christmas trees, grow other ornamental or fruit trees for sale, maybe cabins or a couple RV sites or even some rustic campsites, a fishing lake, there are so many avenues to make $150 here or $500 there i think you could make it pay for itself over time

Max those are great ideas. I would love to get into RV hook-ups, but our current zoning doesnt allow for it.

0 Votes

Originally posted by @Megan Greathouse:

@Justin Tahilramani So it's traditional renters? Do you also use the farm for personal enjoyment? I've seen a couple of options with multiple dwelling units on the land, so this could be an option.

Megan - technically all six units are furnished short term rentals - length of stays vary. We absolutely still enjoy the land and use it for hay production. If you go this route I would recommend buying land near a large hospital, military base, national park, etc. Something that will consistently bring people to the area.

3 Votes

Our farm is in North Carolina - our farm pays for itself with rental income from long an short term rentals that are on farm. Renting out acres would not even pay for the taxes on the land....

1 Vote

Your title says sewer main, but your post says water main. Which one is it?

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How many windows in the entire unit? You can get new windows installed (labor and materials) for around $250 - $300 per window. I hate wood windows - they are a big maintenance item and they usually look terrible from neglect. You probably wont get more rent, but you may be more proud of your properties if you maintain them in a way that feels good to you.

0 Votes

I built a duplex a few years back in NC for about $100 PSF. I already owned the land - so that was not included in the cost. Our area is pretty relaxed (no parking lot requirements, retention pond, etc). Mine is 1bd/1ba each side and is used as a short term rental. I'm glad we built it, but we probably wont be building form the ground up in the future unless I GC the build.

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In my opinion this is a simple one - higher risk = higher reward. You know it isn't 100% kosher - you also benefit from a higher return.

2 Votes

Originally posted by @Winfred Brown:

Hi all newbie here. I am currently ready to start investing in buy and hold real estate in Fayetteville, NC. I wanted to know if investing while COVID issues are going on is a good idea or not, or should I keep going further into the process of investing, pre-approval process,etc. I have been researching biggerpockets for a while and I am ready to start investing but wanted to see what seasoned investors think. Thank you for your time in advance.

It really comes down to the extent to which YOU are being affected by COVID-19. Our W2 jobs have not been affected, so we continue to invest. I would probably be much more hesitant to invest if there were a chance that our jobs would be affected.

1 Vote

All Forum Posts by: Justin Tahilramani

Justin Tahilramani has started 21 posts and replied 826 times.

Post: Multifamily Quad-First purchase

Post: Must do 1031 exchange before July 15th , what to buy ?

Post: Anyone familiar with Missouri farms?

Post: Anyone familiar with Missouri farms?

Post: Anyone familiar with Missouri farms?

Post: Have you ever replaced a sewer line before during a flip?

Post: Older windows, fix or replace?

Post: 2Acre Lot, Multi-Family Build?

Post: Illegal multifamily... am I going to Jail!?

Post: Investing in buy and hold real estate