All Forum Posts by: Nicholas L.

@Remington Lyman

Not a day goes by without me using the phrase "Appreciate you keeping it authentic."

@Remington Lyman

have had the same thought, but i know it's tough to police AI generated posts...

saw a thread the other day where every single response to the OP was very obviously AI.

i'm still here and i'm still not using AI

@Michael Noel Peralta

it's not - if you're talking about something like a HELOC it should be used short term / temporarily.

@Rodolfo Poe

hello.  have you done this successfully out of state before?  if so, great.  if not, i'd stay local in AZ.

the "all-in" number you threw out will put you well under the median price, and means it will be tough projects in potentially challenging areas.

@Taylor Steenburgen

hello.  i don't invest in STRs myself but i always get nervous when people want to get into them solely to offset taxes.  that by itself doesn't mean you'll be successful and the market is very tough right now.  just throwing that out for consideration.

@Chuck Spradlin

hello. do you already own a primary?  could you house hack?  a house hack is a great way to get started.  but, it is not a good fit for everyone.

the market is tough right now for both primary buyers and investors.  i don't know a lot about you, but i encourage new investors not to buy something just to "do a deal," but to be patient and potentially spend a significant amount of time looking.  if you are putting 20-25% down, that's a huge deal - it's a lot of capital to tie up in something.  a lot of new investors also expect to "cash flow" shortly after buying and this just isn't the way that residential real estate works.  it may take years to genuinely cash flow depending on how you plan to buy.

hope this helps

@Mike Dymski

agree with you and I think different people in different places are focusing on different aspects.

anyone have any predictions about what happens if this continues?

i think population growth may slow more quickly than was anticipated a few years ago.  could that ease demand side?

@Jay Hinrichs

@Marcus Auerbach

@Melissa M Blackwell

i know this isn't what you want to hear, but if you're "using the equity" with a HELOC and then financing the rest, you will likely just lose money, as it will be very difficult to find a property that can support 100% financing.

i would save up more cash first

hope this helps

@Vernon Martin

IMO they're all difficult right now since capital is expensive and that impacts just about every strategy. so i don't think there's an obvious answer.  what are you interested in?  

i'm working on a BRRRR. it's not going to cash flow when i refinance but i will have forced equity and my capital back. seems like your skillset might lend itself to that but i only know what you posted. and again, BRRRR is not a cash flow strategy, it's an equity strategy.

@Blake Armstrong

Hi Blake - I say the following not to discourage you, but to help reset your expectations.  There is no cash flow in long term rentals right now in the short term.  None.

If you want to invest for the long term, which is what a lot of us are doing, that's great.  But, immediately supplementing your income is basically impossible.

Just wanted to cut through the cheerleading to try to help.  I'd be happy to answer any questions you have.