All Forum Posts by: Keetaek Hong

That's great! Thanks so much @Amir Khan

Other than Mashvisor, are there any other tools that can automatically filter out any new MLS listing based on my criteria (e.g rent avg, cap rate, expense)? And notify me ?
My current flow is 

1) find a house that matches the configuration (X beds, Y bath)  in a certain neighborhood (Redfin or my agent)

2) pull up rent data in rentometer / Zillow 

3) run through my spreadsheet with expenses, taxes, insurances and etc 

I would love these to be automated. Any recommendations ??

Short: Can the Cost Seg Study result vary based on "WHO" does it? Should I shop around?

Long:

Thanks to my awesome CPA, I've learned about STR Loophole and embarking on the first cost-seg study. As a noob, I wasn't sure if cost-seg study varies based on which firm does it. Or does it follow a strict guideline that I should find the firm willing to do it cheapest?

If I should shop around, what are the criteria/questions I should be asking? 

Lastly any recommendations?? 

@Priya Srinivasan - Any good sources in hiring VA with such qualifications?? How are you leveraging yours?

@Chris Seveney I totally agree with relying on redfin/opendoor for strictly comps is a dangerous game. I am more interested in MLS listing <> AirDNA (or any other rent data). It's more about connecting two data sources to narrow down my search.

@Brian Barch Thanks for the info! Just checked it out. It seems a bit sparse at the moment. I may reach out to them to get more deets from them

@Lauren Kormylo @Leslie Anne Morris @Eliott Elias - I have a wonderful agent in the city I am investing in (who helped me to secure the first property). However, I wouldn't expect my agent to underwrite proforma for every new property and price change. I was hoping to automate the first leg work. 

@Bruce Woodruff - ah I totally agree with you that it needs more in-depth research than AirDNA. But it definitely helps weed out obvious under-performers from your search. I am looking for that first level of the filter. 

Hi BP Family,

In market identification, people often talk about: population growth, job market, rent-to-price, median income etc etc. 

However, putting aside these obvious elements, do you apply the same criteria for identifying the market for SFH vs MFH? 

Let's take Buckeye AZ for an example. Dave Meyer (BiggerPockets Data VP) mentioned earlier this year how it has an attractive Rent-to-price and population growth. Now.. if you have been to Buckeye AZ, you don't often see people renting an apartment unit as the rents are relatively cheap for a single house. 

Hence, how do you identify a market/city that's good potential for Multifamily? Should you filter your analysis only based on Multifaimly-rent-to-price ratio? Or do you factor in per-unit prices? (I am not even sure if this is readily available data) Do you segregate your data SFH vs MFH? How do people usually do this?

Hi BP family!

My current way of identifying property is the following:

1) Receive a notification from Redfin (for the houses that match my criteria) with a new house or a price change.

2) Go to AirDNA to analyze (Short term)

3) Do some LTR analysis using Zillow 

Then.. if the numbers look good, I work with my realtor on comps and make an offer. 

Are there any tools that can automatically do the steps from 1-3? 

How's cash flow looking? I understand that AirDNA shouldn't be the sole source of data. But it seems like the current house prices (3+ beds, 2+ baths with a pool) doesn't seem to incur a good cash flow. (assuming 10% down). Are there better configuration (smaller house? no pool?) that seems to work for people?