All Forum Posts by: Sama Pa

Hi BP nation. I'm at a bottleneck and im mentally and financially stuck and would love some sound advice. What do you do when your capital is tied up in your deals and you are waiting for it to season so you can 1031. I know using OPM and I have scoured my network but can not find anyone. Have little capital left and I am working hard at my W2 to build capital but what are other creative ways to continue building this business? Can't HELOC (do not own). hard money requiring 20 percent down which I do not have (about 50k left). Guide me folks!

More STR newbie questions. Stay with me. Debating going down my usual LTR route with some remaining capital to BRRR it vs buying an STR with 10% down as a second home and building more cash flow. I've read the heck out of these forums and am missing something. Once I place my money in the STR that was bought as a second home I can not easily cash out refi? atleast not for a couple of years until market appreciation occurs. Am I getting that right?

how do people decide between brrr and str? If both are getting me 30k in cash flow a year but with BRRR I can pull my money out and reuse (and force appreciate potentially) what is the allure to STR which is more maintenance heavy? Thank you for helping me understand

@Avery Carl - for the forseeable future I totally get that! What about after 18months-2 years when things open up again? I imagine it will revert back to the way it was preCovid. and when it does and there is more volatility, is there benefit to choosing a market that has the ability to switch to LTR?

Looking to diversify and wanted to ask BP nation about choosing an STR market. I've heard the suggestion to choose a market which you can easily convert to LTR. Then, there is the other school of thought that you should invest in areas where there is decades long history of being a vacation/resort spot so that legislation is not likely to restrict renting in the future.

With everything that has happened this year I would like to choose a market where this risk is lower. Does that exist?! Recommendations on a market for this STR newbie???

Closing on a property thursday and I called the property appraisers and millage rate is 25. 900,000(purchase price)x25 divided by 1000 = high taxes. I should have looked into it earlier but this cuts into my expenses and is thousands more than I anticipated. What should I do? Back out? Escrow lost is better than paying for a liability?  How often is petitioning for reassessment successful?

Looking for someone to coach me through some buy and hold deals. someone to shoot one off questions to, run deals by, mindset, etc. Where can I find someone like this?! is this a thing? 

considering picking up a single family home that is zoned C2. also has an efficiency. what is my best play here? convering to a commercial space? less inclined to do that due to costs but can i build out the effeciency and rent that out separately from the main house? 

Other ideas? I'm all ears :)

My partner and I have used Anderson Advisors for some time now and due to numerous miscommunications and errors on their end we are looking for a new real estate friendly CPA. We valued them for their aggressive tax strategies but can not deal with the headache of admin. Any recommendations for CPA firms who are very well versed in real estate and in particular real estate professional status? We have found that while some are RE friendly they have different reads on REPS and different levels of experience with this. Thank you in advance!

looking to invest in mfh in pinellas county, fl (st pete, largo, clearwater) and average rents are all over the place. looking mainly in up and coming neighberhoods and looking for advise on how to get to know the market better? Specifically, which areas would make for good brrr properties and how can i know how high to push rents? thank you!