All Forum Posts by: Spencer Keables

@Jason J. Welcome to bigger pockets! 

@Gilbert Dominguez I appreciate the quick response and the detailed explanation.  Its good to know that if you got stuck with a property with really high taxes you could petition to have the taxes reassessed and maybe changed. Thanks again!

@Gilbert Dominguez why do certain properties have such high property taxes? I couldn't imagine paying 7,500 a year in property tax, that is crazy! 

Awesome!! Thank you guys so much for the quick responses, definitely helped clarify a few questions I had. I recognize that there are a lot of good investments and reasons that people want/need to sell them, but I wanted to hear what experiences you guys had personally! I enjoy reading books and other forum post to learn about real estate, but I feel like I get the most out of the forums when I get active, and you guys personally start answering my questions. Thanks again everybody! 

OK this is a question that I have had in the back of my mind for a while, why would anyone sell a property that is cash flowing? 

I realize that some people might want to sell their property to invest in a better property that gives them more of a return. Also I know that there are people that are just bad property managers/owners who might be looking to sell to get rid of a head ache. I can imagine some owners are forced to sale because of financial problems.  Other than the reasons I just mentioned why sell a property that is clearly cash flowing? I can't help but to think that most sellers are ditching their property because they have some underlying issue with it; an issue that will be very costly in the future. Obviously this makes me nervous as an investor. Out of curiosity, for those of you who have purchased/sold a property, what caused the seller or you to part with it? 

Hey @Jacob Tucker and @Bryce Young if you guys would like to meet up some time and talk real estate I would be game for that. Although right now I am not in Provo, but I plan on moving there in a month or two. If you guys want we can keep and touch so that we can meet up next time I'm in the area. 

Hey @Juan Maldonado sorry for the super late response, I thought that I had left you a message a few days ago, but it never sent. My email is above and that would be the best way we could set up a time to talk! 

Thanks @Juan Maldonado for your comment! I hadn't put any thought into renovating a potential investment property, just always thought I would find something ready to go, but I would be all for taking this approach if the numbers make since. That one thing that I love about BP and connecting with so many people with so many different views on investing. Like I said I'm not afraid to do cold calling do find a good deal. I would love chat sometime. 

@Aaron Mazzrillo! Working around 50 hours a week and trying to invest in real estate! It sounds pretty intense, but doable. Ill pretty much be shooting from the hip like you were saying because the only experience that I have in real estate at this point comes from a few books, BP podcast and the forums.

All your guys's responses have been very helpful and have given me a few different perspectives to think about. Thanks again!

If I were to do an SFR property that would probably be one of last resorts. @Skyler Smith you said that you hired a local property management company for one of your rental properties. How much does it cost for management companies? Would they cost a certain percent of what I would be cash flowing on my property? Basically I'm wondering if I didn't do the house hacking thing would be worth it to purchase a triplex or fourplex that is further away and find a property manager?  

Also I just want to thank you guys; @Skyler Smith, @Blair Poelman, and @Matt Slakey for your responses, they are really appreciated!  Im obviously new new to the real estate game and the post you guys leave are very helpful! 

Awesome thank you for the responses everyone! I recognize that apart from reading books about real estate I need to start and learn more about the specific market that I will be investing in. Admittedly I don't know as much as a should about Utah's market and ill try to learn more as the time to move that directions comes. 

Ok so the cap rates in every market are different and in big cities they are shrinking as you said 

@Christopher Telles. So how do investors that are looking to buy and hold multi families make a profit? In Markets like these is it best to wait or just look elsewhere? 

I could invest in SE Idaho like @Brian H. said but this would be my first property and I would like to either live in it or be living close to it so I could manage it myself. I will most likely be moving shortly to Utah because there are many job opportunities there!

Ill definitely check out the The Ultimate Beginner's Guide a little more in depth like you said @Matt Slakey, thanks!