All Forum Posts by: Kyle Renke

@Jason Holloway - There's definitely some seller finance opportunities in Sacramento; oftentimes, the terms depend on the seller and what they are looking for.

During a transaction, you definitely want to ensure that an escrow or title company is involved to ensure that everything is clean with the transaction, including the actual title itself.

The good news is, loan rates are at an all time low right now, so house hacking in Sacramento (either through a duplex or a single family house) is VERY do-able.  We are working with tons of house hacking clients in Sacramento, and depending on how creative you want to be, there's a lot of options to help keep your living costs down. 

In terms of BRRRR, as @David Greene says, you want to make sure that "there's enough meat left on the bone."  In other words, you can find potential BRRRR deals, but you'll want to make sure you have the right game plan in place before you pull the trigger.  

Many of our house hacking clients are buying multifamily or single family homes, living there for a year or two, renting out the other rooms, adding value to the house through "sweat equity" and then buying a new property and repeating the process.

@Shannon Lydon – I'll second what @Charlie Cameron had to say. Don't get a real estate license if only to gain MLS access or learn a bit more about real estate investing, as it's definitely a big commitment (both financially and time-wise). That being said, becoming a real estate agent has provided me with several benefits that have helped me become a better investor and a more skilled professional:

• You gain firsthand experience in real estate while still saving money
• You learn more about negotiation and how to talk to other agents and industry professionals
• If you work with other investors, it allows you to become a better investor yourself
• You can earn extra income in addition to your W2 job, which can accelerate savings
• Working with a high-performing real estate team forces you to grow in ways you may not have grown at your W2 job

There's definitely pros and cons to both, but ultimately, it comes down to what aligns with your long term goals.

Hey Andrew!  Congrats and welcome aboard!  As a RE agent that works with long-distance investors, make sure you find an investor-friendly RE agent that has experience working specifically with investors.  Even better if they have experience working with investors that have similar goals and strategies that you want to incorporate.  Best of luck!

Welcome @Tom Conant and congratulations on taking the necessary steps to start building wealth through real estate!  You're in good company.  Your perseverance to pursue your calling (even though it took a long time and required a ton of hard work) is admirable!  

David Greene and I will be hosting a meetup on behalf of the David Greene Team called "House Hacking in California" at Acton Academy in Roseville, CA. It's a great way to come out and meet other investors and like-minded people.

Come learn and listen to David talk about investing in your future and how to do it!  We'd love to see you there!  

NOTE: In order to to register, you MUST use the link below.

@Geordy Rostad, I've been playing around with my local MLS and that actually seems like it will work the best. We have Realist as well, but I haven't used it in-depth for running stats. I'll definitely be sure to check that one out too. Thanks!

Hey All,

Curious if anyone knows of any type of software where I can pull the historical real estate data for specific geographic areas?  E.g., "The median sales prices in XXXXX ZIP code between 1990 - 2019."  Any recommended APIs or places where one could pull this kind of data?

Thanks!

Hey Joseph!  

First, congrats on getting married!  That's awesome!

@David Greene hosts meetups every month in the Bay Area as well as the Sacramento area (which are the ones that I facilitate).  This would be a great way to get started and network with a ton of great people!  

The next one is on the 30th in San Mateo at 7pm!

Totally, here's several resources that I typically direct people to first:

• The Ultimate Guide to Analyzing Rental Properties by @Brandon Turner
• YouTube Video Where Brandon Analyzes a Deal (45 min)
• Five Minute Deal Analysis by @David Greene

Hope that helps!  Let me know if there's anything else you need help with.  I know it's a lot at the beginning, but the more you commit yourself to learning, the better it will help in the long run.

Hey @Draven Stallings! From looking at your question, I assume you're asking about comparing "comps" or "comparable sales" in the area. If that's the case, essentially, there are two types of professionals that can help you when investigating and analyzing the comparable sales in an area -- real estate agents and appraisers. Real estate agents and appraisers have access to their local MLS (Multiple Listing Service) and can pull all the recent sales data for a particular area. This can be extremely helpful (especially if they're investor friendly) since they will likely be the one helping you purchase your investment property when you find it. When I'm working with a client, I will be sure to pull the 5 most recent active, pending, and sold listings similar to my target property -- this way I can accurately gauge the pricing of that home. Using the local market comps can help you determine the market value of a house to ensure that you're not paying over market value for the home. However, ideally you'd be finding a great deal that is much lower below market value.

The biggest thing at this point is to get practice analyzing tons of deals.  Using the Bigger Pockets Calculators are a great way to gain exposure and practice to analyzing deals, looking at your income vs. expenses.  The more repetitions you get early on, the easier it will be to recognize a great deal when it comes your way!