All Forum Posts by: Rohit Aggarwal

Hi All

This is my second post on the forum. Thank you all for the kind introductions earlier.

I am looking to do my first deal. I am looking to buy a home that is cheap and then rehab it to increase its value. I live in San Jose, so obviously the property prices and rehab costs are much higher than other parts of the country. 

While bidding for a home, I need to take into account the rehab costs and my knowledge in that area is negligible. So, can you please recommend some contractors that are good, economical, and can be part of the team that I am building for all my future deals. I looking primarily in the bay area (so in and around San Jose area contractors are my focus).

Thank you

Rohit

@Larry Fried Thanks for your reply. It sounds really intriguing. I will read your blog series and get back to you.

@Mike D'Arrigo Primary goal is cash flow and retirement stream of income. So, based on what you said BRRRR strategy is not the way to go, I guess. I also don't have the knowledge and skills to get BRRRR done from a long distance

@Chris Wiser @Marian Smith Thank you very much for your replies. The idea of multi family syndications sounds very intriguing particularly when they are brand new or rehabbed. In the end, a rental is a rental for sure, so a turnkey establishment seems to be best suited for my purposes. 

Investing in bay area locally is not easy and will take years to accumulate wealth for a down payment. Do you know of any companies that do such MF/SFH syndications out of state? Or any groups that you could recommend with which you've had good experience (in terms of rehabbing, responsiveness, dedication, management). Or the only best way there is to reach out to a real estate agent, and grow your network by picking up the phone.

Hi All

I am new to using biggerpockets (though I made an account a while back, I never got around to using it). I listen to various real estate podcasts regularly. One thing about this business continues to elude me. Please help me understand.

A little bit about me, I live in the bay area and am working in a tech job. I don't know the path to really retire on real estate income. Bay area markets are so expensive that the net income is really close to nothing. Almost all the podcasts I hear are about people who have "retired" on their real estate income do one/more of the following:

1. BRRRR strategy - meaning they have time and resource to rehab

2. Buy relatively cheaper homes out-of-state on their salaries (or partner's money) and rent them out. They work full time as real estate professional, so they get really huge tax benefits.

In my situation, I have a tech job that I cannot leave because I love the job. I still like the idea of have a retirement-ready income from real estate portfolio. So, what path should I take? One might say partner with other people but its not as easy and requires trust, working style matches that I am open to, but would like an alternate option that I can follow along with my wife (my wife is my partner). I pay a lot of tax and do not get much tax benefits on real estate portfolio due to my W-2 job. I rehabbed my primary home and that was a nightmare to deal with. Rehabbing investment homes from a distance seems a very difficult thing to do. 

I am sure many people on this forum are in my shoes. Is the path to early retirement for W2 working people like me in an expensive market just this:

- Slowly buy out-of-state homes on W2 income and maybe in 15-20 years, amass a portfolio of 20 homes that will have enough retirement income?

I welcome your suggestions.

Thanks

Rohit

Hi all,

I am new to bigger pockets forum. This is my first post, so apologies in advance if I am posting to the wrong group.

I am a real estate investor in bay area and am looking for a good tax consultant. Please give me recommendations of a good tax consultant who is very good with real estate laws.

Specifically, I want a consultant who can answer questions like the following and help give advice on how to do it:

1) Is it better to open a corporate trust to save property taxes, which people can't deduct under AMT. Even the mortgage tax benefit on investment homes is not really helpful right now. It just carries forward later.

Thanks

Rohit