All Forum Posts by: Account Closed

Hi @Account Closed, this is my opinion. I am a buy-and-hold investor and I look for turn-key only (or lipstick flips). I use cash on cash return to see how hard my money is working for me then I cash-out refi to pull all my initial money out of the property. I rinse and repeat. The first few years are the toughest because it can be literally 12-16 months without a deal that reaches my CoC threshold. Once it is rolling, it will be a new property evey year then six months and so on. Best of luck with what you do. Do not be afraid to save and pinpoint your investment strategy, many people go broke on BP trying to keep up with the BRRRR crowd. Invest how and where you are comfortable.

I agree you stay local (for now), get ahold of some $$ somehow and do a flip. I assume you have some sort of ability to swing a hammer/paint/flooring/demo. etc.....

If not, you'd best learn some basic low-level skills...

Yeah, they will do that to ya..... 😂

🤷🏻‍♀️ lol  

Hi Lisette,

May I ask what your goal is with investing? Are you more interested in cash flow or appreciation at this point in your life? 

Like @Dan H. said, the appreciation here is hard to beat. I purchased a house hack in October of 2021 and using the above math, have made $19,333/ month. That being said, take that number with a grain of salt because of the crazy market we have been in. That type of appreciation is not what you should expect but high appreciation markets are the ones where real wealth is made.

I am in the process of looking for a 2-4 unit in SD as my next house hack but it is very difficult to make the numbers work with multi-family here. I do think that will change in the next year or so with the shifting market so I think there are some great opportunities coming our way.

Are you planning on living with your parents long term?   Are you going to rent after moving out of your parent’s home?

Likely the reason you are expecting money from your marital home is due to appreciation.  Have you calculated what your appreciation has been per month over your hold?  The reason I ask is i expect it dwarfs the expected cash flow from you OOS RE.  

doing value adds are tough enough to do local.  I would not suggest a RE investor start by attempting an OOS value add.  I think you would likely do better combing house hacking with a value add than attempting an OOS value add.  

Good luck

My go-to critique: don't count your chickens before they hatch.

You're making plans on how you'll spend the money from your home sale, but you haven't sold it yet.

Focus on finding a market to invest in. Look for a state with fair Landlord - Tenant laws, a promising growth projection, good schools, etc. Then start evaluating various cities to find one that meets your criteria for cash flow, appreciation, or whatever your goals are. By the time you sell your home, you should have narrowed in on a few markets and can start looking for an agent to help you find deals.

@Account Closed I am a house hacker in Redlands and soon to be San Diego! My total portfolio will be north of 2 mil and I wont pay any mortgage! We should connect so I can share how you can stay in the greatest place possible and get your portfolio working for you!