All Forum Posts by: Nathan A.

Absolutely slow down and think this through before signing a contract. There is no rush. It sounds like you're being encouraged to flip the raw land to someone else, who would then develop it. What are these construction development plans, though? Is an architect already involved? Do you already have zoning approval? It's not clear to me what plans already exist that would be of any value to a potential buyer. Maybe the land value has just increased since you bought the lots and that's the $60k and $100k they are talking about? If you just want to flip the land there are probably alternatives (like listing with an agent) to paying a $5,000 down payment for marketing.

Quote from @Douglas Hardman:

I was going to try and find a podcast or an audiobook too.

Try the Real Estate Rookie podcast. It's inspiring. You could also go back in time and listen to some of the episodes of the main BP podcast from a couple years ago, although I've found the mix of guests generally tends to be less beginner-friendly on the current episodes.

Quote from @Edwin De leon:

What do you mean by "  negative cash flow or super high cash flow on the riskiest MFs " are you referring to poor undesirable areas when you are telling me ............... " that it can range from negative cash flow to super high cash flow on the riskiest MF's " Yes or No also when you say super high cash flow on riskiest of MF's ... give examples of what you are referring too for riskiest of MF's not clear on this at all LOST

As a general rule, nicer areas tend to have lower cash flow than undesirable areas. This blog post on property classification might help explain why. The worst areas tend to look great on paper but come with a ton of problems.

Quote from @Edwin De leon:

as a 100%  disabled PA may allow BIG exemption on property taxes

From the information I'm seeing, you'd definitely have to occupy the property to gain that exemption. If you get serious about baking this into your assumptions you should also call a county Director of Veterans Affairs and verify that it applies to multi-family properties -- I'm not seeing a clear answer to that.

I would start by learning how to analyze for LTR and then expand to STR or MTR once you have done a few. Here's a good blog post on how to analyze a property for LTR by Brandon Turner. Chapter 5 of his book, "The Book on Rental Property Investing," is about how to analyze a property. Some of the webinars that BiggerPockets offers often touch to greater or lesser degree on analyzing deals -- you might try attending this one.

You could do some googling for "lawn alternatives."

Budget for vacancy and property management, even if you are going to be self-managing. It's also important to make sure your rental income expectations are reasonable, but it's hard for anyone else to second-guess you on that without more background on how you arrived at your rental income number.

Talk to a CPA, but visiting theme parks nearby doesn't seem like an ordinary and necessary expense of managing and maintaining your property itself.

Welcome! I would recommend starting with the Real Estate Rookie podcast for inspiration.

Quote from @Edwin De leon:

Ok, give me a link to a webinar you are recommending where do i find many Webinars that BP offers ?

They’re listed on https://www.biggerpockets.com/... I’m not seeing any upcoming installments of the Dave Meyer multi family webinars right now but you can catch a replay on the podcast show 694: https://www.biggerpockets.com/...