All Forum Posts by: Ryan Rogers

@Ryan Rogers, just going off the limited info I get from your post, I would offer that you're looking in the wrong areas. A general rule of thumb is that ritzy areas like Downtown Boston are barely ever going to cash flow, but they will appreciate like hell. The lower-end areas will not appreciate too much, but will cash flow like crazy. (This is a long-term comment, bc everything in Boston has appreciated like bonkers.)

As an example, I have a friend who is moving and is trying to rent out her Seaport apartment, but is finding it difficult to rent bc the number is so high. However, the Seaport is exploding, and it will be even more now that GE has announced it is moving its headquarters there. So, is she willing to hold onto it bc of the appreciation that will come? - and none of that is speculation; the development has already been happening.

So, I think it's just a question of managing expectations. If you don't want to go into lower-end areas, you can look on redfin and run the numbers on more regular "B" areas. In Boston, the single units (or I believe even brownstones, but I could be mixing something up) in the Symphony/Northeastern University area, for example, give cash flow of like <$200/m, and that was with me assuming property management, as BP teaches you.

Hope this is a start. And yeah, 1% rule DEFINITELY is not a thing in Boston, let alone the 2%.

Completely right about the 2% Rule/Evaluation. Doesn't exist here. It just seems like the appreication is so insane and will probably level out but with that being said always increase at least with the level of inflation since everyone wants to be here. Seriously considering buying understanding negative cash flow will be guaranteed with the assumption that equity will be built with mortgage paydowns. Just seems super speculative or maybe i'm just being too conservative:/

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@Dominic Jones

Thanks Dominic, in my opinion it seems like taking a deal with negative cash flow to start maybe worth doing the deal. Seemly appreciation historical rises in large cities with inflation and high demand. Hense paying down the asset for long term net worth and potential to cash flow much later on.

Anyother thoughts on this guys/ladies?

Thanks!

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Originally posted by @Ben Leybovich:

$3,000/month on 59 doors - not even close. Don't do it!

Love your info in your Podcasts Ben, thanks for sharing!

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Mike,

MLS, Networking, Direct Mail

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woot woot!

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Hey all! Hopefully everyone is well!

Just curious to those out there who are investing for long term holds in extremely high priced cities like Boston, San Fran, New York, etc..

Seems like the numbers are so hard to cash flow, with the high sale prices with exponential demand driving up purchase prices.

It seems like trying to get property under intrinsic value seems extremely difficult. (Possible but...) The 2% or even 1% Rule/Evaluation doesn't come into play at all. I'm seeing approximately .5% in Downtown Boston. Granted the appreciate seems to be very respectable long term.

Do you investors with experience just avoid downtown major cities? I'm sure someone is succeeding in this atmosphere. Hoping you'd be will to share some insight to how you operate in (what seems to me) a tough long term hold market segment.

Thanks as always for your input! What a great community we have here at BP!

-Ryan

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@Curtis Bidwell

Thanks for the open transparency and taking the time to encourage others with your success! Great work!

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@Curtis Bidwell

Great Job Curtis! Thanks for sharing!

Could you elaborate why the seller went with your offer Vs. the other Cash offer?

Keep crushing in 2016!

Ryan

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Both! Remember if your property is appreciated through time or forced appreciation you can pull the equity through refinancing to acquire more Cash Flowing properties!!!

Best of luck in 2016!

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in my opinion everyone that invests should have their licenses. It only makes sense to and I don't understand the thought process of anyone that says otherwise. You have way more control over the data you receive/access and can submit offers way more efficiently. Not to mention you receive your commission on deals. Would love to hear opinions on why not to from other BP members. Have a great 2016! Much success!!!

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All Forum Posts by: Ryan Rogers

Ryan Rogers has started 16 posts and replied 92 times.

Post: Major Metro City Buy/Hold Investing???

Post: Major Metro City Buy/Hold Investing???

Post: What kind of cash flow are u looking for

Post: Major Metro City Buy/Hold Investing???

Post: Rental #16 under contract!

Post: Major Metro City Buy/Hold Investing???

Post: A Deal From Zillow! Just added 10 Units to my Portfolio!

Post: A Deal From Zillow! Just added 10 Units to my Portfolio!

Post: Buying a home for appreciation or rental

Post: Should I get my Real Estate Liscense