All Forum Posts by: Paul Berard

@Greg Moore Thank you for your response. I am working on coming to grips with my "risk adversity." After reading your response I am going to spend some more time formulating, and dialing in my plan of attack. I was unaware that law suits were such a big problem with rental properties. I wonder if the threat of law suits can be avoided by proper insurance policies. I have always lived by the saying "Its better to have it, and not need it. Then to need it and not have it." Your insight was extremely helpful, and I thank you for your time. Paul B. 

@Henry Lazerow I appreciate your response. You have confirmed that I need to adjust my plan so I can hit my goal quicker of "financial freedom." If bigger pockets has taught me anything its that there is more then one way to real estate. Thank you, and blessings to you and yours. Paul B. 

@Zachary Ray Thank you for the warning. I am a very blunt person, and sometimes revealing your hand works in your favor. I feel the people on bigger pockets are already like family. I am going to explore leverage. I understand the concept, but I am still hesitant to over leverage. I need to find a middle ground. Cheers, Paul B. 

@Dani Beit-Or Thank you for your response. I was looking for a middle ground, and putting 50% down seems like an excellent route to take. After reading your post I am leaning more toward Nashville. I am favoring cash flow over appreciation at this current point in time. Of course I would like to have my cake and eat it too, but that seems unlikely with my current capital.

The reason I choose Nashville, and Austin is because both offer a good environment for investors from my research. Both have increasing populations, good paying jobs, and decent land lord laws from what I have read. I also have "boots on the ground" in both areas. 

I am also from CA. I was born and raised in a small town called Santa Barbara. Being from a smaller town I wanted a bigger "pond" to swim in. Ergo I'm now living in Miami. 

Thank you for reaching out and helping me with both my questions. I appreciate you sharing your knowledge with me! Sincerely, Paul B. 

@AJ Shepard Thank you for your response. I am working on networking with like minded individuals, and honestly this is my first attempt to do so. I am taking peoples responses with a "grain of salt." I value everyones opinion. I am working on taking the information given to me, and formulating a plan that I can best use to achieve my goal. "Leverage" has been brought up a few times, and is looking to be a common theme in people real estate strategy. There for I am making a list of lenders to discuss rates, and getting pre approval. I am going to continue to dive deep into this, and I know with enough knowledge I'll be able to build a sturdy foundation. Storms are inevitable. Thank you for your time and enthusiasm about helping others with real estate. Best regards, Paul B. 

@Ian Walsh Simple, sweet, and to the point. Thats a perfect exercise, and just what I needed. Thank you! Cheers, Paul B. 

@Kent Leach Thank you for your response, and I respect your honesty. I am a rookie! Everyone has to start somewhere. That being said I appreciate your advice on looking in my own backyard for real estate deals. I am currently living in Miami, and the more I research the more that is making sense. I know there is a lot of opportunity here. I just need to spend more time "driving for dollars," and networking. I am seeking out the counsel of a mentor. I have heard from BP its about adding value to their life opposed to being a leach. I am working on the "adding value" part. I appreciate your response and your time. All the best Paul B. 

@Ian Decosta You are completely right. I need to read, educate myself and network. I am spending every day listening to BP podcast on my drives, and searching the internet for potential leads. After reading so much good commentary I am jumping from location to location. I need to pin point my investment location so I can have laser focus, and dominate my investment strategy. I am going to reach out to a CPA next week when I have a clear picture of my exact strategy. I have learned by reading these comments that my strategy is far from ready. Thank you for your time! Cheers, Paul B. 

@Account Closed Thank you for addressing the fear mongering. I agree with you that having a good insurance policy is the equivalent to having good breaks on your car. Very important! After reading the previous comments I am definitely looking into leverage as it seems like a "key" to many peoples success. My goal is to retire in the next 20 years with rental properties with excellent cash flow. I appreciate your time. All the best Paul B. 

@Angela Dulin I am looking forward to reaching out to you to discuss investment opportunities in Nashville. I am going to do some more research on my market here in Miami before I do. After receiving incredible responses I am leaning toward starting here where I currently live. I know opportunity is everywhere, and we just have to do a little searching to find it. As you mentioned its about finding out what works best for me, and I am working on deciding that. I appreciate you, and your willingness to help new investors like myself. Cheers, Paul B.  

@Jesse Daconta Thank you for your response. I have not looked into "apartment syndication." I am excited to learn, and I'm ordering the book you recommended tonight. Thank you very much for your time! All the best Paul B. 

@Jonathan Hulen We are definitely on the same page. I keep reading/hearing how "hot" the market is right now. Starting with a minimal amount of capital has made me want to take what I have to compete with other buyers for great deals. I am leaning toward the refi method. Cheers, Paul B. 

Thank you Greg Scott for taking your time to reply to my post. Your insight on my strategy was extremely helpful, and needed. I had not considered reducing my risk by obtaining multiple mortgages. I am going to explore more financing options in the upcoming week. My only concern with multiple mortgages was over leveraging myself. 

In addition I will rethink my price point of 100k. I want to avoid buying "pieces of junk." I do have a background in construction, but because this is going to be long distance I won't have time to do the renovations myself. Also because I'm just starting I don't want to get in over my head. 

Your response was extremely helpful, and I thank you for your time! All the best, Paul B. 

Good afternoon Bigger Pockets forum. This is my first post, and of course I'm looking for advice. My wife, and I are taking the plunge into real estate investing, and I wanted to consult like minded individuals on a couple key items.

1) Location, location, location. I am fully aware that location is of the utmost importance. We have narrowed down are search to Austin, and Nashville. Both areas seem to be booming, and could quite possibly offer a good ROI. We would be investing long distance, and I wanted to mitigate as much risk as possible. Between these two locations which offers friendlier landlord laws, and the best opportunity in these uncertain times?

2) Price Point. In either location is 100k per unit doable?  I would prefer to purchase a couple units in cash instead of getting financing. I understand loan rates are currently at an all time low, but I feel safer about this strategy. We are not risk adverse, but once again mitigating as much risk as possible. I would like to try to find a multi family, or a couple houses that need minimal work. In either location is my goal possible? I want to go after steady cash flow vs appreciation over time. In the next five years I will adjust my strategy to incorporate appreciating houses, but I need to see the housing market even out.

I want to thank anyone that takes their time to respond. I understand time is money, and you spending even a minute on me is a blessing. GOD BLESS. 

-Paul B.