All Forum Posts by: Robert Reynolds

Hi Ryan, 

My suggestion is to buy a live in flip/house hack. At your price point you can definitely find a house for around $650k not too far from LA, but if you want to be in a really good area you are looking at a condo. Is $650k your pre-approved amount for a house or duplex? I'd love to talk to you more about your particular scenario. 

Tickets are selling out fast. VIP tickets are half sold already. Look forward to seeing everyone there

The self-sustainability rule doesn't apply for VA loans, only FHA loans to my understanding. House Hacking with your VA loan is a great idea, there are some difficulties that may come along with getting a seller to want to take a VA loan offer vs an FHA or Conventional, but my team has had good success doing it. Hit me up with any questions. I house hacked my first house before it was called house hacking and it's a great way to save up for your next house and reduce housing expenses.

 Hi Huggy, 

You can definitely ask Mr Greene himself if you'd like. He has Youtube Lives every Friday night at 5pm. Jump on and ask him directly if you'd like. I am an agent on David's team and would love to talk and help you out. 

Find out what strategies are working in the SoCal market with a keynote presentation by David Green and an expert panel Q&A. 

Register on Eventbrite, space is limited. 

Also there's a VIP hour option for $150 where you get to ask David Greene questions in a small private group setting. 

https://www.eventbrite.com/e/w...

 Hi Jimmy, 

My advice is get through those online classes as quickly as possible and then take a test prep course to pass the test. 

Join a team that will give you great training and experience right away, and won't have you just sitting behind a desk cold calling people. Our team has a model that I recommend where you start out at what we call a showing assistant. You can also do your own deals, but to get experience you can show homes, do inspections and other tasks to quickly gain experience, knowledge and confidence (for you and your sphere). Hit me up if you have any questions, and I'd love to talk more. 

Supply is definitely low and you need to be ready when a solid multi-family home comes on. Rates are slowly coming down so I hope that help your approval number, I would check in with your lender, if you haven't for a month or so. 

You can also look at single family homes with ADU's as a possibility if you aren't finding any multifamily's. Would love to connect and help however possible.

 Welcome @Jackie Linne, you will find these forums very educational, and always get a good response to whatever questions you have. Please reach out if you have any questions or need any help. 

I definitely dabble in stocks, mostly index funds, but my main focus is on real estate. My main argument for real estate over stocks is that you can use leverage in buying real estate where you can't with stocks. Let's take an example of a person who is renting in LA. A one bedroom goes for about $2k where I live. You are spending $24k a year paying off someone else's mortgage. You can take $24k, an instead put that down on a condo for $500k, and rent out the extra bedroom. Appreciation has been well over 10% on average, but let's take 5% appreciation. That's $25k a year, and you can double your initial investment after year 1. That's not included principle pay down and money saved not paying rent. For investment properties obviously the numbers change and I'd love to talk with you about different strategies that work out here in SoCal. 

Hi Anudeep, 

When looking to buy a short term rental, and you find one on the market that is already a short term rental, your agent can usually get the gross revenue numbers from the selling agent. They usually will send a printout from AIRBNB showing the income generate. They may use other booking platforms also, and can send those numbers usually also. 

I have had clients buy homes that were already airbnbs and others that needed a lot of work, and their's definitely benefits to each strategy. 

For property management it depends on the location. We've had clients buy in Big Bear, Joshua Tree, Palm Springs and other short term rental markets in SoCal, so reach out if you need a connection. My advice is to start managing it yourself, and if it's too much, you can then transition. You want to keep the airbnb account in your name, in case you don't like the management company. 

For financing, you can go with the second home loan at 10% down, or investment loans at 15-20% down or DSCR loans. I can connect you with a lender if you'd like.

The tax benefits of STR when you self manage and have a W-2 job or other active income are a huge benefit, and I would consult a tax consultant on that.

Take Care and let's talk soon!