All Forum Posts by: Manav Mandhani

@Connor Cushman That's great to know. Would love to chat with you more about the Blue Ridge, Georgia area. 

I've been looking at STRs in the Smokies and was amazed by the fact that most of these properties actually come furnished! For someone strapped for capital, the additional ~$10-20K saved by not having to furnish a property is a game changer. Are there other vacation rental markets where buying furnished properties is the norm?

Hey there! I'm an investor based out of Seattle, WA. I bought my first rental property couple years ago that I run as a STR using the corporate rental model. My primary goal with that investment was to diversify my portfolio away from the stock market. Now, I'm looking to really scale up my RE portfolio by looking into other markets across the country and deploy some of the strategies I've heard about in Biggerpockets. My two short-term objectives are:

1. Scale up my portfolio by accumulating a bunch of BRRRR deals in more affordable markets by relying on a strong boots on the ground team. I've identified a short list of markets and am networking with folks to help make my final decision and build out a solid team.
2.  Deploy some money periodically into Airbnbs in popular vacation areas (National Parks, beach towns, etc.) that will bring me some solid cash flow.

I'd love to network with other investors at various stages of their investing journey. I've been doing a lot of research & talking to realtors/pms/contractors but I think talking to folks that are in the same boat as you can bring in some unique insights. Please feel free to DM if you'd like to connect :)

Hey all - I bought a property in Austin, TX in 2019. Since purchase, I've gained ~$200K in appreciation and it currently cash flows for ~$450. I want to expand my portfolio and buy 2-3 properties over the next couple years in smaller areas (exploring midwest, FL, AZ, etc.). I have about $50K in savings ready to go but given the equity sitting in this property, I'm evaluating a few additional options:

1.  Take $50K out of the property. Cash flow $270/month
2.  Take $100K out of the property. Cash flow $50/month
3. Take $175K (80% LTV) out of the property. Cash flow -$300/month. This is a strong no for me but open to hearing otherwise.
4.  Sell the house.  Not keen on this either because I feel pretty bullish about Austin's appreciation prospects.
5.  Don't take any money out. Refinance to a lower rate and increase the cash flow to $550/month.

Would love some thoughts from the community.

Thanks for all the inputs everyone! Looks like AZ + OH are two markets worth doubling down on :)

Hey all - I bough my first rental property in Texas a couple years ago and was able to cash flow out the door in addition to the appreciation the area has experienced since the purchase. I'm looking to continue my REI journey by looking at other markets across the country that can help me achieve the same goals.

My primary success metric is cash-on-cash return. I'm hoping to use the cash flow from this investment to help fund further real estate purchases. However, I don't want to lose sight of appreciation and would prefer to do deals in markets that have shown strong historical appreciate over the last 5-10 years. I'm pretty flexible on budget. Does anybody have suggestions for areas I should be taking a look at?

@Corby Goade What other markets would you recommend? I'm open to other areas as well.

@Aaron Singer It's the minimum I'd like for me so I can feel fairly safe that the house would pay for itself but ideally would like something around $300-400 which is what I'm getting from my first investment property in Austin, TX. Appreciation is also something that I'm weighing in heavily but cash on cash return would be my primary success metric.

Hey y'all - I'm an out of state investor looking at diversifying my real estate portfolio by dipping my toes into other states. I have familial ties to Indiana which makes it an interesting prospect to me but I wanted to get a local perspective on rental property investing in the area. My primary criteria is that I need to be cash flowing over $100 by putting 20% down at most. I'm pretty flexible on budget. How realistic is this to achieve in the Indianapolis (or neighboring) markets? 

Appreciate all the advice everyone! I feel a lot better prepared :)

Okay, I'm pretty convinced that negative cash flow = bad. I've been looking at properties in the 300-400k price range and none of them meet the 1% rule. Perhaps I need to look at properties that are priced way lower? But then I don't make as much on the appreciation.