All Forum Posts by: Justin Winn

I would point to recent news of condominiums in Miami, FL. I wouldn't depend much on others who you don't know and trust. I believe it was a year or two ago that an entire condominium collapsed because the management failed to do their duties for maintenance and management for too many years. So I would always encourage you to lean on your trusted advisors, as well as research any HOA for how that money is being managed.

Best of luck.

If you’re going to be reAlly aggressive like this, I might encourage you to use airdna to check the analytics on this area.

@Jeff Schemmel is spot on, one other thing to consider on the FHA loan is, it needs to be your primary residence. So if you currently own a home that isn't finance via FHA, then you can move into your new FHA loan covered home and then rent you current residence.

There are a bunch of ways to skin this cat, I would start by talking to some of Jeff’s lender friends and tell them what you are trying to do and they will tell you if they have a product that works for that strategy.
Best of luck

I think it really has a lot to do with the market, the turn around time possibly, and investor strategy. But when I see people on TV flip big houses for big profits, all I know is that wouldn’t happen in rural America where I spend most of my time.

Long story short, there are a myriad of different reasons for big, average, or small flips. If you think you can flip a big house and you like the return I think you should go for it. Just make sure your analysis of the deal is well thought out.

best of luck.

Im not sure what tools you’re using to capture you’re data, but I would try using some other tools. Unless you’re in an extremely rural area Zillow should be able to help you find some comps, and if quit claim deeds are a really significant number of transactions in your area I would also have questions and concerns about root cause.

i know this may not answer your question, but I would just try some new tools for your comps, even the BP tools should help.

This is my second quote from @Eliott Elias tonight, I agree. It depends on the area and how you’re going about acquiring this third room. Often times a converted garage adds Sq Ft to a house, but at a lower price/sqft than the rest of the house. I would definitely encourage you to speak to a good real estate agent or a local appraiser.

I agree with @Eliott Elias  the answer to your question depends on if cash flow is your primary strategy, or if appreciation is. If appreciation is your main ingredient for wealth building, then maybe low or no cash flow is ok. I personally prefer cash flow, but I often here the BP personalities talking about appreciation as this super magical thing and I think there may be some value to that. But ultimately your market, your strategy, and your asset class along with many other factors will determine whether you should say yes or no to an investment.

Best of luck to you.

I tend to think @Stephen DeThample and @Matt Devincenzo are both on to something. I enjoyed my time in SoCal, but farming consumes a lot of water. I think part of the creative solutions people will have to make in the future is restricting farm land and implementing crop type regulations. Which could potentially be managed by bringing in crops from other states, redistributing supply chains if you will.

It’s possible that desalination is a viable option, but my understanding is that, that technology still has some less than desirable environmental impacts (I could be wrong). I believe desalination is being used in many places around the world, I’m just not sure it how it would work in CA. As far as pipes moving water between water systems I’m always concerned because we as people tend to miss something and next thing you know we’ve destroyed another ecosystem.

I think this is a great question, both of these gentlemen make great points, and it will be Interesting to see how this all plays out. But local policies toward landlords drive my investment locations more so than the impact of global warming.

Best of luck to you.

@Jemir Martinez one other thing I would encourage you to think about, from what I read, is the need for some cash reserves. If you don’t have enough for 20% down, or 3.5% for a house hack, with a little left over… most experts recommend at least 6 months of expenses. Then I might encourage you to wait a little longer until you have some more cash on hand. I’d hate to see someone purchase something assuming rents will cover the mortgage and then major appliances, old plumbing or other major repairs make this dream opportunity a nightmare. But we all have different risk comfort levels, all I’m encouraging you to do is think about that in your analysis of your deal.

Best of luck to you.

I believe this is something your broker should be assisting you with. If they are unable or unwilling to assist you then I might recommend searching for a different broker.

Best of luck out there.