All Forum Posts by: Nicolas Martin

I'm new to investing and wanted to get some advice/perspective on 2 things...

1. For someone new to real estate investing that wants to do long term rentals, do you recommend starting off in an area close to them/an area they're familiar with or someplace that will give them the best return even if it's out of state. 

2. Since this would be my first long term rental property do you recommend starting with a property manager from the beginning or managing the property myself.

I understand that there are pros and cons to all of these scenarios, I'm just looking for various insights. Thank you!

Listening to all of the podcasts and reading the BP books / Rich Dad Poor Dad types makes it seem like building a portfolio and scaling smart could lead to early retirement and living on cash flow that ultimately replaces your income. 

But, talking to real life investors at RE meetups seems to come with a different answer. Many investors told me cash flow is a myth that all of it just goes right back into the property for repairs, vacancies, etc. 

I’m sure it’s a combination of both - but what should we believe as newer investors? Many investors seem to flip houses or have another form of income coming in (not a W2). I’ve been much more interested in flipping but I’m curious if that’s the common way to retire with RE on top of long-term holds with cash flow. 

Thoughts?

Hi, I bought my first investment property ( new construction  SFM) few months back. I hear that cost segregation study would be beneficial.  The property is <400k so not sure if it us beneficial for me.  If so, any recommendations please. How much would it cost (ballpark) for the study?  Does it need to be completed before end of the year to use it when I do taxes in April 2025? 

Thanks!

David

Good morning!

I have found my first multi-unit property that I am going to make an offer on. Based on my reading and understanding I'd like to form my LLC in Wyoming. I currently live in Michigan. Who out there has created their LLC in Wyoming? Do you have recommendations for a good Registered Agent that you have used and that did a good job? Thanks in advance!

HI, 

Is opening a LOC on my primary a good option to fund flips or is there a better solution to get the funding? There's no charge to me to get these funds except a yearly fee of 200.00.

Thank you 

Hi, im 34, married w/ 2 young children. My wife and i have 100k saved. We are currently renting in San Diego, CA. We are looking at Denver to start our real estate portfolio. My end goal is to have financial freedom in 10 years or less by bringing in $10k/month. Options ive looked at are the Burrrr method, house hacking with fha living in the property for a year doing small upgrades and forcing appreciation refinance then rent and repeat that every year until we reach our goal. I could really use some help or insite on the Denver area. Or what some of the more experienced investors on here would do with my current situation. And i really just want a base hit, i dont want to wait for a home run deal. Id like to get in the market and learn more as i go through experience. Apologies if i dont know what im talking about. Open to help and guidance. Thank you

I am 18 years old with very little credit history and little capital. I am eager to start but can't get around the glaring issue of not having initial capital so I was wondering if there are any methods you guys would use to raise capital if you were in my shoes or is it just time to put my head down and put in long hours?

Hello, I’m interested on getting some insight from anyone willing

I currently live in Seattle and want to get into REI but the cost out here makes it tough to be able to get involved without capital

I read the out of state investing book and it got me interested in trying somewhere that I don’t have to burn up all my capital to get started

1. What are any recommendations on stable markets?

2. Do most people contact the PM, realtors, contractors in that area remotely or is it more ideal to fly there and meet people?

3. Any tips on where to begin my venture is greatly appreciated also.

Thanks

The team is the most important part. It's not impossible, but it only takes a few minutes of scrolling through these forums to see how difficult it can be. 

I'd suggest meeting people in person and investing in B properties or better in growing markets. Those properties won't look as good on paper, but they'll perform MUCH better in real life. 

Best of luck-

Hello, 

New real estate investor here in search of a mentor to help navigate the Indy real estate market and surrounding areas.