All Forum Posts by: Nazanin Boojar

I live in one of the most expensive yet smallest countries in the world - Cayman Islands. I’m a beginner in RE investing and up against cash buyers on million dollar properties in the market. So traditional lenders i.e. banks are not very friendly to newbies. 

I have analyzed tons of deals however conventional loans at 20% Downpayment hardly yields positive cash flow due to how expensive the market is. SFH averages 450-650k. My question is, if I can afford putting in 30-40% downpayment to yield positive cash flow, is the risk too high? That would mean putting in 150-250k in downpayment alone. Appreciation is likely due to relatively growing market but as a first investment I would like to get guidance on investing in expensive markets. There's no BRRRR market either due to how small our island is. House hacking is not possible for me as I have kids.

Do investors really put down that much downpayment in expensive markets?

Good day,

I already have a primary residence and want to house hack. Has anyone done this? I want to get an FHA loan so I will live in it for a year. I am thinking of getting a property near my current home so this can work. I have equity in my current home but I really don't want to take a loan against it. I would rather another funding source. I would love to hear someone's experience if they did this.

Hello everyone, I am looking to start investing into some real estate.. Specifically looking to get into some kind of multi family home or a duplex where I can do some sort of house hack deal. I have about $170k cash saved and willing to do a 10-15% down payment if needed. I do not have a job at the moment but this may change.. The cash I have saved is from affiliate income which is hit or miss.. Some months I make $20k, some months I make $100. If you were in my shoes, what would be the best course of action you would take in order to attain your first property, get the rental income generating so I can eventually with time generate more properties and with more properties, more cash flowing in. I realize the market is not in the best position right now but I figured if I am going to buy a property I might as well start now that I have some cash saved and low to zero debt.

Look forward to any advice and help, thank you!

Quote from @Dan Maciejewski:

Quote from @Nazanin Boojar:

I just realized that the housing growth was insane in Florida this year. I feel wasted. If I invested in the market, I’d get a 38% return on my investment. 🤯 Is this for real?

Yes, it's been a few years of crazy appreciation in many markets in Florida.  Most people think that the "crazy" numbers are done and that we should settle down to a manageable number.  Depending on the market segment, at least in Pinellas, you can still see homes listing above what they "should" appraise for and selling 5-10% above that.  Other segments are seeing things settle to almost balanced market conditions.  Price reductions are back in those segments!

Gone are the days you could buy any shack and sell it 3 months later for an 8% profit, though. I would definitely not purchase thinking you could get a 38% ROI on appreciation alone!

As Dan mentioned, I would never recommend speculative short-term investing like buying a property and expecting a big return by just throwing it right back on the market no additions done to it.  There's been a window where that was possible, but no one could have predicted what real estate was going to do the past couple years and still can't predict what will happen in the next couple years.  Time in market > timing the market and true wealth in real estate is built through long-term strategies. 

On a side note, I wouldn't be surprised if the Tampa area leads all metro FL cities and is in the top 10 over the next 10-15 years for average annual appreciation in the US based on the STILL affordable prices to amenities ratio and business/population growth outlook.  This is just my opinion as I've experienced a top 3 metro the previous decade in appreciation in the country and I see the same/better outlook for the greater tampa area for the next decade.

Quote from @Nazanin Boojar:

I just realized that the housing growth was insane in Florida this year. I feel wasted. If I invested in the market, I’d get a 38% return on my investment. 🤯 Is this for real?

Yes, it's been a few years of crazy appreciation in many markets in Florida.  Most people think that the "crazy" numbers are done and that we should settle down to a manageable number.  Depending on the market segment, at least in Pinellas, you can still see homes listing above what they "should" appraise for and selling 5-10% above that.  Other segments are seeing things settle to almost balanced market conditions.  Price reductions are back in those segments!

Gone are the days you could buy any shack and sell it 3 months later for an 8% profit, though. I would definitely not purchase thinking you could get a 38% ROI on appreciation alone!

It is still a great time place to invest! I bought my first Florida property in Jacksonville in 2021 and it turned out GREAT. Unlike a lot of areas in the country, the Jacksonville market has been appreciating due to numerous factors other than just inflation. The city has invested millions into intercity infrastructure, developing the water way, and approving the waterfront Four Seasons development. Not to mention their steady populations increase for the past furthering the housing demand. 

We have seen 20% + year over year appreciation in most Florida markets for several years now. For a deeper dive into the stats for Pinellas County, for example, see https://pinellasrealtor.org/ma...

There's a lot of discussion about just how much "runway" is left, but there are still a lot of prime factors (namely population growth, demand, and limited supply) putting upward pressure on prices.