All Forum Posts by: Nick Colvill

Originally posted by @Nick Colvill:

Originally posted by @Account Closed:

Originally posted by @Nick Colvill:

Originally posted by @Account Closed:

lol. Can’t believe this thread is still going. 

Just let him be. He doesn’t take suggestion/criticism well. Plenty of people tried to help him out and give pointer and he shoots them down. 

 How do you feel I shot you down?

You came on to this thread and immediately turned it in to your opinion on when the real estate market is going to see a downturn 

Hard to see how that makes me the bad guy

 I was responding to what you were saying to those that posted before me. When one (experienced investor) started mentioning why he wouldn’t invest in that area (which is criticism). You started saying how he is pessimistic, and I came in telling you the reason why many investors would not want to invest in that area. 

Then when others chimes in trying to tell you just banking on appreciation is not a good idea, you got defensive. After that, I showed you graphs and showed you results. without knowing how to trade options, stocks, or how the PDT rule work (day trading rule), you didn’t view me as a stock investor due to the fact that my trading account only had 2k when those 2k makes me more money than any other investment vehicles (read up on options trading since 2k leveraged actually is worth around 100-200k depending on stocks). And just for the record, I make 4K in just my stock investments a month. And about to start up my personal investment firm for real estate. 

Investors have multiple accounts for asset protection, so most of the time investors on here propbably has 3-4 accounts in 2-5 different investment sectors. 

Hopefully you can see why people are viewing you as a “bad guy” and reason why they are “bagging” on your success. Investment is not black and white; burning bridges as someone new to the investment world will hamper your ability to expand. 

 You seem to love talking about all of the ways you are amazing at what you do. 

You should also write a book about how you make 4k a month on 2k in Robinhood - I would buy it

As you have seen in this thread, there a many strategies to take advantage of when dealing with properties in a high appreciation area like mine. Also, note how the majority of you people who are negative or pessimistic about it don't live in areas like mine, have had little to no experience investing in areas like mine, so forth. On the other hand, we have had some good comments about good strategies to use in areas like mine from people who DO live or invest in these types of areas.

So maybe you should look in the mirror and realize that there are many ways to make money investing in real estate - and just because you don't like one method doesn't mean it can't work

 Lmao. Alright I’m done trying to help you. The only reason why I mentioned my “success”  is cause I was trying to show you results since I figured that was the only way you would listen to people since you didn’t want to listen to myself or anyone else. If you notice majority of experienced people on here were trying to help you. Even people near your market... but two or three people that are in the same boat as you backed you up compared to 6+ other investors doesn’t fit your logic, that’s fine. 

You probably didn’t even read my comment or you are the type to only see things that you like, but I’ll say it one more time people have different accounts. That Robinhood account roughly makes 1-1.5 k a month which is my active trading. I have passive investment accounts... also, that screen shot even shows $700 gain in less than a full day, but I guess you have narrow vision as well. 

Good Luck though. Really do wish you succeed. Sucks seeing new investors waste money. 

Originally posted by @Nick Colvill:

Originally posted by @Account Closed:

lol. Can’t believe this thread is still going. 

Just let him be. He doesn’t take suggestion/criticism well. Plenty of people tried to help him out and give pointer and he shoots them down. 

 How do you feel I shot you down?

You came on to this thread and immediately turned it in to your opinion on when the real estate market is going to see a downturn 

Hard to see how that makes me the bad guy

 I was responding to what you were saying to those that posted before me. When one (experienced investor) started mentioning why he wouldn’t invest in that area (which is criticism). You started saying how he is pessimistic, and I came in telling you the reason why many investors would not want to invest in that area. 

Then when others chimes in trying to tell you just banking on appreciation is not a good idea, you got defensive. After that, I showed you graphs and showed you results. without knowing how to trade options, stocks, or how the PDT rule work (day trading rule), you didn’t view me as a stock investor due to the fact that my trading account only had 2k when those 2k makes me more money than any other investment vehicles (read up on options trading since 2k leveraged actually is worth around 100-200k depending on stocks). And just for the record, I make 4K in just my stock investments a month. And about to start up my personal investment firm for real estate. 

Investors have multiple accounts for asset protection, so most of the time investors on here propbably has 3-4 accounts in 2-5 different investment sectors. 

Hopefully you can see why people are viewing you as a “bad guy” and reason why they are “bagging” on your success. Investment is not black and white; burning bridges as someone new to the investment world will hamper your ability to expand. 

lol. Can’t believe this thread is still going. 

Just let him be. He doesn’t take suggestion/criticism well. Plenty of people tried to help him out and give pointer and he shoots them down. 

Originally posted by @Nick Colvill:

Originally posted by @Jake Walroth:

As far as I know @Nick Colvill, this is an real estate investment forum. Buying a primary residence in an appreciating area and having a rental house for friends and family in Tahoe doesn't equate to investing. Wanting to buy a multi in Seattle just for visiting purposes doesn't sound like an investment either. It sounds like you've got plenty of $....since you can buy multiple properties in 2 of the most expensive geographies in the world. 

Buying a house in San Jose is an accomplishment in it's own right... but my initial thought, from an investment perspective, is you could have used that cash in other geographies getting you a higher return/dollar.- it seems like you're well traveled and that wouldn't scare you. ... I get the Bay Area is probably never going to collapse.... but Austin, Nashville, Raleigh, Atlanta--- all places guaranteed for similar if not better appreciation long term(yes, even the Bay Area has a ceiling)... while not having to spend $1,000,000 on a 4-2. 

I do like the Tahoe house... when I lived in Sac I wish I'd of bought up there.... from a vacation rental perspective, you have Winter goers and Summer goers... shouldn't have any seasonal gaps. 

The duplex in Seattle thing, go for it.... but at some point, don't you need some cashflow for the $$ you're investing in these expensive markets.... unless you're already wealthy... but if that's the case, why are you investing?

I find it interesting, as a new person in the real estate game, how incredibly defensive this forum is. 

I never said I was a seasoned pro - I clearly discussed my starting dates and entry points

To see how many people come out of the woodworks to tell me that they don't think my first year in real estate (buying two properties for my family) was a success and that my preliminary plans are also no good - that I must not be privy to something for NOT investing in outside areas that have lower prices (despite me saying in these forums that my plans ARE to invest outside of my area) - its comical

I think the problem is that there are too many egos here who think that just because they have seen success doing their method, that their method is THE method

I'm here to learn, grow, be accountable (hence the posting) and transparent in my real estate decisions. Why are you guys here?

I'm on your side here man, and don't want you to fell sh*t on for not having fit some arbitrary standard of 'investment'.

BUT...   I think this is the issue:  Buying a home for yourself, anywhere really, is a great personal accomplishment.  Buying a second home to vacation in or allow friends/family to use is even more impressive.  So yes, those are personal accomplishments.  Like getting your masters degree, or making partner at a firm, or any number of other personal accomplishments.

I think the beef some are having is these are not really 'real estate INVESTMENT/INVESTOR successes.   So they're saying "Dude, come back when you're an actual investor and have something to share".  And you're saying "Hey, what I did is a big accomplishment".   You're right, it is.  Just not the traditional RE income property portfolio accomplishment that people normally post about. 

Originally posted by @Gretchen P.:

Originally posted by @Nick Colvill:

Originally posted by @Chris Purcell:

Originally posted by @Nick Colvill:

Jumping in to real estate was a well-calculated move. I live in San Jose, and this market is notorious for making people lose faith in their ability to purchase. 

I bought my primary residence in May of 2017 - a brand new million dollar 3 story 2200 sq ft home and closed on a 500k vacation/rental in Lake Tahoe right before the new year. 

The primary was financed with 10% down and the rental was financed with 20% down. 

I strongly believe the the community I purchased my primary in has massive potential upside, and have been blown away by the prices i've seen my neighbors sell their properties for within just a year of owning. 

I'm sharing this in the "success stories" section because I can't stand how discouraged people get, and I truly despise the mindset of "i'll just wait for the market to crash"

We need to find a way to make it work - no one will do it for us

Are you liquid enough to put down 10% and 20% on multiple million dollar properties every year?

 I would say no. By next year I plan to put up to 300k down on a multi family unit and finance the remaining 70-75%. That would constitute it as a million dollar property, but it will have been 2 years since my most recent purchase - so no, not EVERY year, but as a real estate professional with a high income w-2 spouse, the savings we get on depreciation the asset in terms of the the reduction in tax liability and subsequent check from the IRS puts our rate of savings at a decent pace

Speaking of learning and growing,  I am VERY interested in hearing how you plan to "get a check" from the IRS using RE depreciation to offset your spouse's wages.

I was trying to figure out the same thing. You can't depreciate a vacation home on your taxes. Even if you rent it to friends for a few weekends, that not enough to meet IRS use guidelines. If you use it personally the greater of either 14 days or 10% of rental days, then it is a personal residence. If family uses it for anything less than fair market rent, that is also considered part of personal use. Guidelines are pretty specific, to prevent people from just writing off vacation homes:

https://www.irs.gov/taxtopics/tc415

I am also trying to figure out how he is a "real estate professional". His profile says he owns a mobile notary service supporting the mortgage industry. The IRS has ruled that those in the mortgage industry are not real estate professionals for tax purposes, so there is no way a notary business will meet the requirement. IRS ruling memo link:

https://www.irs.gov/pub/irs-wd/201504010.pdf

As far as I know @Nick Colvill, this is an real estate investment forum. Buying a primary residence in an appreciating area and having a rental house for friends and family in Tahoe doesn't equate to investing. Wanting to buy a multi in Seattle just for visiting purposes doesn't sound like an investment either. It sounds like you've got plenty of $....since you can buy multiple properties in 2 of the most expensive geographies in the world. 

Buying a house in San Jose is an accomplishment in it's own right... but my initial thought, from an investment perspective, is you could have used that cash in other geographies getting you a higher return/dollar.- it seems like you're well traveled and that wouldn't scare you. ... I get the Bay Area is probably never going to collapse.... but Austin, Nashville, Raleigh, Atlanta--- all places guaranteed for similar if not better appreciation long term(yes, even the Bay Area has a ceiling)... while not having to spend $1,000,000 on a 4-2. 

I do like the Tahoe house... when I lived in Sac I wish I'd of bought up there.... from a vacation rental perspective, you have Winter goers and Summer goers... shouldn't have any seasonal gaps. 

The duplex in Seattle thing, go for it.... but at some point, don't you need some cashflow for the $$ you're investing in these expensive markets.... unless you're already wealthy... but if that's the case, why are you investing?

@Nick Colvill

I’m in the same boat as you. Seattle is crazy expensive due to Amazon and foreign investment. We are seeing some of it slowing down, instead of +15% appreciation YoY in some areas. I think it will be more likely to plateau and go at a moderate 5%. And forget about cash flow.

I'm investing in AZ and located an off market 19 unit property that is +10% cap, 9% CoC, and 1.4% DSCR.

I’m also looking at Nevada. basically anywhere I’d like to go visit and mix business and pleasure.

You can’t find that in Seattle/Bellevue.

I’d be interested in getting your preliminary thoughts on where to invest for MF in 2019.

Congrats on entering the REI game.

Sorry I meant to say, "I'll leave you to your confused thinking, and your personal attacks on me".

@Nick Colvill I don’t ever post but I feel compelled. I say this with all do respect (I don’t want to sword fight). People here don’t see buying a primary home and a vacation house with less then 50% down a “success story”. Also you put “rental property investor” which you are not. Peace and love peace and love

I'll leave you to your confused thinking Nick, have a nice day.