All Forum Posts by: Mike Kundla

Hey friends! My wife and I are just starting out and trying to get the ball rolling on our first real estate investment. I'll be completely honest, I'm a little overwhelmed. I just finished David Greene's BRRRR Method and I've been trying to absorb as much information through listening to the BiggerPockets and RealEstateRookie podcasts on a daily basis. The concept of the BRRRR method makes so much sense - but all I keep reading about and hearing is how difficult it is to implement the BRRRR Method in today's market. Any recommendations on what niche to jump into right now? We've always been interested in out of state STR... I just don't know if going out of state is the right move for our first deal. As you can see, I definitely have a bad case analysis paralysis.

We sold my condo about 6 months ago and have about $60K left over after we bought our current home.

Thanks for listening,

Mike

If you are going to invest locally I would recommend house hacking. That is what I did here in Columbus, Ohio when I started investing in 2017.

Here is an article with more information on what a house hack is - https://www.rocketmortgage.com...

Thanks for the reply Remington! Unfortunately I don't think that is an option. We have a 6 month old daughter and 2 dogs.

0 Votes

Columbus, Ohio

Thank you for the advice Nathan!

Quote from @Nathan Gesner:

Welcome to Biggerpockets!

STR have been performing very well for the past two years, but it's a post-COVID oddity and not expected to last. The purchase price on STR also makes them extremely expensive. I suspect a lot of investors have over-paid in the last 24 months and they'll get burned with the STR market slows down. Just my opinion.

Even LTR is difficult to find a cash flowing property because sales prices are so inflated. I would look for a multi-family and make sure the numbers work. If they don't, hold onto that money and see what the market does for a while.

0 Votes

Columbus, Ohio

We sold my condo about 6 months ago and have about $60K left over after we bought our current home.

Thanks for listening,

Mike

4 Votes

Columbus, Ohio

All Forum Posts by: Mike Kundla

Mike Kundla has started 1 posts and replied 4 times.

Post: First Investment - Looking For Some Guidance!

Post: First Investment - Looking For Some Guidance!

Post: First Investment - Looking For Some Guidance!

Post: First Investment - Looking For Some Guidance!