All Forum Posts by: Sam Abraham

I am looking for one as well. The recent tax increases doubled my taxes.

Hello BP,

Quick question about FHA. I closed in August with FHA and then got a job offer in VA. I currently reside in NJ, but I don't need to move to VA until mid-end of January. I don't want to buy/build all my furniture and settle into the house and then have to immediately move about a month later. Any opinions or suggestions?

Thanks

Hello all,

There is a property for sale near me that is a triplex sitting on top of a retail location. I know how to run the numbers for the triplex but I don't know how to calculate the potential rent/lease agreement for a retail location. Anyone know any formula/resource I can use to help me estimate the potential monthly rental income I could make off the retail space?

Thanks

Do not worry about inflation. You can see that the Fed is taking it very seriously with these quick drastic interest rate hikes. One of the biggest elements of the CPI is energy and with the recent energy price spike we saw inflation go up drastically too.

Personally real estate is one of my retirement vehicles. I also have a Roth IRA which I max out every year (6K), 401K, investing my healthcare saving account, life insurance permanent, and real estate. This way depending on the market I can choose which bucket would be the most beneficial for me to pull from at the moment. Diversification is key to risk management, the worst case scenario if you go all in on real estate is another 2008 which isn't impossible, so I would plan around that happening so that you can always be secure.

Yea this is a tough time because housing prices have inflated so much the past few years and now interest rates have been raised 4 times this year. I remember in a recent podcast David Green mentioned that we are in a appreciation economy not a cash flow economy. Meaning that most of the money to be made in real estate in these economic conditions is for the actual value of the house to go up versus from cash flow.

My advice would just be patient and keep looking at deals as they come on the market. I would also recommend talking to a good real estate agent. I found mine on BiggerPockets find an agent tab and he has been extremely helpful. Talk to them about your budget and goals and maybe they could help you look in the right areas. Because of the current conditions, finding a deal is going to be difficult but it definitely exists. Perhaps taking an off market approach could help you find better leads? These are just my two cents, good luck! 

Absolutely. This would be a great opportunity to expose yourself to a lot of like minded people and learn a lot. The best investment you can make is in yourself.

Of course if you are able to. 

This is basically the job of a home inspector. I would recommend always getting a home inspected prior to closing and it can give you peace of mind that almost everything will be found out during this time. Of course, no one is perfect and there is a chance you might get surprised with something. But at least it won't be 10 different things that will drain the value of the property. Never close on a home that refuses a home inspection that is just asking for trouble. I am relatively new as well so I am not an expert or anything but this is my 2 cents. Happy flipping!

A lot of talk and headlines of a looming recession is floating around so I was wondering if anyone had some tips on how to be prepared to handle one. I am not too worried about the value of real estate going down, at least not residential (commercial is another topic). But I am trying to be prepared all around with my stocks, cash and now real estate. I am relatively knew to the game. I decided to start looking for my first property in 2022 and closed in May. Anyone have any wisdom on how to prepare to weather (or even thrive!) IF a recession does occur? 

@Steve K. Yea it seems the equity gain is what is making people the most money vs cash flow. I have been looking for deals with strong cash flow potential but it looks like looking for deals with good equity potential are much more plentiful. Rising costs have just increased the barrier of entry. I spoke with another investor yesterday and he told me the housing market took a major downturn only 4 times since 1830 so the chance of it happening is extremely slim!! Thank you for your advice. 

First I want to thank everyone for taking the time to respond all the advice you guys have shared has been very helpful!

@Shawn Mcenteer Hi Shawn it definitely is an interesting market. The high barrier is discouraging but those who get through get the great awards that come with it. Unfortunately I am very busy this week but if you have anymore in the future please let me know I would like to attend one of these meet ups to learn and network.

@Joshua Janus Yes it seems simply looking at the listings is not enough. I have been looking into how to get off market deals.

@Sean Prato  Hi Sean thanks for reaching out. Thank you for the offer I don't think any market is out of my scope as of yet. I am definitely exploring my possibilites just to soak in what market offers what. As someone previously mentions the real estate "markets" are more localized to the area than as a whole market and its in my home state! Feel free to reach out to me to start a channel of communication. Let me just say this I am still rather new so I don't want to buy a property tomorrow but I am looking to learn about the different markets, price points and potential ways of dealing with properties.