All Forum Posts by: Kevin Longeuay

Peter Vekselman hey Peter! Are those opportunities specific to flipping or rentals or both? I'm new to BP and am looking for my first sfh rental and am coming to the harsh realization that Cali just won't work so I'm going to start looking out of state. My plan was to try and find cities with the best overall value and then start looking in more detail from there so any insights you can share would help tremendously. Feel free to message me and thanks in advance

That's an awesome combo! There's a strategy called BRRR (buy, rehab, rent, refinance) that is mentioned pretty often on this site and it'd be a good way to utilize both skill sets and get into rental properties with low money down. It's kind of like a flip but instead of selling you just refinance to get your down payment back and then keep it as a rental. I would say too that since your wife is an architect you should look into bigger opportunities like land development or serious flips. I have zero knowledge in those areas but figured with an architect that would be one way to shoot for the stars Good luck!

Also factor in additional time (I.e.mortage payment, taxes, etc) to find a buyer

What does your realtor say about the market in the winter? I'm from Cali so I have no idea. If your concerned about it, maybe factor in a decreased list price if the market is low and the property has to sit for a while. If the deal still makes financial sense then that's one obstacle out of the way Good luck!

Thanks Paul and will do!

Welcome to the site Mario! 

Congrats on your first deal! That's very exciting. Welcome to the site :)

How'd the deal go down? Any surprises or lessons learned so far?

Hi everyone!

My name is Kevin and I just joined the site! I'm an aerospace engineer in San Diego and my real estate goal is purchase and maintain rental properties to increase my monthly cashflow. Sound familiar? I'm sure you guys get that a lot. I don't have any properties yet but I've been doing some research and have been finding that good ol Cali might not be the best place for me to start out. I'm looking for investment properties around 100k with the highest ROI possible. Not easy to find properties that cheap in Cali and it doesnt seem like the ROI is as good as other states. One questions for you all to start things off, is it a good idea for a new real estate investor to start with a property that is out of state? I plan on hiring a property manager for whatever property I start with (in state or out of state).

Also, my current research strategy is to start by finding cities that have good potentials for real estate. My approach is to look at two measures of performance: 1) annual ROI (average yearly rent for 3bd minus mortgage then divide by 20% down for avg 3bd purchase price) and 2) market rental demand which I'm calculating as # of rental listing / city population. If a city has a good average ROI and a high market demand, I would then look further at that city. Thoughts?

Btw, kudos to the creator of this site. I've been looking for a good real estate forum and stumbled upon this one which is very user friendly and has a large focus (if not all) on real estate investing. Great intro video as well. 

Cheers!