All Forum Posts by: Markus Powell

Yuriy, 

Thanks for responding I would love to know more. What info do you need from me?

MP

Greetings,

My grandmother recently moved out of her townhouse in Germantown would like to start renting it out. I live in CA so I cant manage it for her. Im looking for a property manager in that area who can take it on.

Thanks,

MP

Thank you, BP!!! 

I'm so glad I have found this community. It seems that staying with my/ a realtor may be my best option. 

I had a meeting with my realtor yesterday decussing my RE goals.  Durring this meeting I told him my RE stragity currently is to find a place and pay what my curren rent is (withm20% down) in a simmalr place. He said he may have some off market deals but so far all of the places that he shows me I have allready found on Redfin. Or are out of my price range and need rehab.

I came out of the meetiing feeling that I have a better chance of finding my place then he does. I dont think he gets my stragity.

I what to start reaching out to other realtors who have more expericne with investors.

How commeted should I be with a realtor?

thanks 

MP

Good morning,

Earlier this year I decided that I wanted to buy my first place. I met with a family friend who is a realtor and he started to show us homes. For one reason or another, we didn't go with any of the homes he showed us. I have since discovered Redfin and I love that I can browse homes at my own convenience without feeling like I'm wasting my realtors time.  I have already booked a few showings.

Although my realtor has put in some work for me (showing homes, meeting in person) now it seems that I'm doing all the research myself.  

What should I expect from a realtor not that I have been educating myself via BP?

Do I still need a REI? Or should I just use a Redfin agent?

Thanks 

MP

@Kaz Miyazaki

@Brad Turley

@Sean James

@Elon Walton

I just found this thread, how is the bay area network going? I'm new to working with whole sellers and I would love to learn the process. Are you still active in the south bay?

Markus

@Walter Roby jr Thanks for the reply.  I have considered the multi-family house hack. The ones that I have seen don't get close to the 50% rule with all of the units rented. In that scenario, I would have to have a plan to get raise rents. 

I will reach out to a wholesaler.

Paying rent to my self is better than my current situation, but I don't want to to get stuck living in a 4plex supplementing the other 3 units because the numbers don't work. 

I'm thinking about getting a small condo with the goal of getting the PITI + HOA = my current rent.

Would that still be considered a deal?

Should I include my tax savings when comparing rent vs buying?

Markus

Good afternoon BP

I'm looking to find my first property and I have been having a hard time putting together a strategy. It seems the more I learn, the more difficult it is to find a deal that I can pull the trigger on. I am all over the place, I like the idea of house hacking, turnkey propreties, multi-families and vacation rentals. I have some cash saved up but I don't have an action plan. 

Currently, I am working a  full-time, renting and supporting my small family. I have been spending a ton of time online learning about RE and looking for good deals via Redfin. I have a realtor who sends me properties, but I prefer to search my self. If I find something I give him a call and he looks into it. 

I have not found any place that can cash flow (using the 50%rule) even with 20% down in my area. I know this is normal in markets such as mine because of the high prices. I am tied to this area because of child custody/school reasons so moving too far away is not an option.

 My goals  

-Stop paying rent!!!!

-Create passive income using rentals to help me retire early in SF

-Be able to afford to live in SF in a nice place with a garage $$$$$

How do you go about buying that first property to live in with the goal to grow? 

What investment strategies work the best for properties that have to be used for primary residences?(house hacking, buy and hold)

How do you find deals in high markets?

thanks 

Markus

@Sam Shueh Thank you for analyzing this deal.  I'm going to move on. I'm going to make a spreadsheet of all the due diligence that needs to be done.   

thanks 

.....and on the next

Update....so the townhouse hit the market this morning. After meeting with the seller my realtor thinks the I should offer $650. I am strongly considering it. If I can get it for that it will bring down to PITI to $3550

That duplex is more ideal, I will keep my eye on it. I just hope the market does not push the price up any higher.