All Forum Posts by: Sarita Scherpereel

Right now, with COVID I would recommended keeping rent the same. I don't think we are going to see the fully economic picture until later summer/fall. It's possible any movement in rent could hurt them financially and create a vacancy. Which no one needs right now.  I would show them some mercury but not increasing the rent. And even say, why you're not doing it. So that next year if you can increase more than you looked like the good guy this year. 

@Tommy Adeoye Austin is one of my favorite cities in the world. I also have a soft spot in my heart for Dallas as I spent a lot of that time in that city in college. Most of my Texas family has some sort of oil/gas job or in a sector that supports it. I’m just not hearing the best news from these cities at this time.

Don’t get me wrong Chicago has a lot of negatives too. Taxes are high, tenant rights are strong. But there is a sweet spot in the market for multi units here that people have been able to purchase in and be very successful.

Ultimately it’s all math problem for each property in each of these cities and if the risks will pay off. 

As a native Texan, I'm worried about the micro-economies in some of these oil/gas heavy cities. Most of my family still lives and invests all over Texas. It's concerning how many of these cities are built and function around oil and gas. It's a domino effect throughout the markets down there. With that said, it might be a good time to watch pricing trends to see if Austin were to make a price adjustment. Although a lot of the cities investment properties thrive with Airbnb which is taking a hit currently. 

I'm bias to Chicago, I see a lot of opportunities here. There is a diverse inventory and strategy for 2-4 units that can be very successful for the first time buyer. And I strongly believe that we will have a price adjustment towards the end of the year. Keep an eye out on all these cities so that you do not miss any opportunities. Best of luck! 

Hi Alex, Welcome to BP and thank you for your service. It would be helpful to mention what city(cities) you're thinking of purchasing in. That why industry leaders can give you the best insights to that particular market. 

Hi Jonathan! Welcome to BiggerPockets! I like Rich Day Poor Dad. I found it very inspiring and informative. Also check out some of the BP material on the site.  https://www.biggerpockets.com/guides/ultimate-real-estate-investing-guide/introduction

Outside of reading, even if you're a few years away from buying the greatest learning comes directly from your market. Attend any real estate meet ups in your area. It will help you understand what these market conditions are for you. It really helps take what's in the books and puts it into tangible scenarios. Ultimately that will help you when you are ready to buy. Best of luck to you on your journey. 

I agree with @Jonathan Greene. I might be bias because I live and sell in Chicago but I think there is so much opportunity here. Especially, if you wanted to house hack and didn't want to miss any first time buying programs...if you're eligible. I can't tell from your original post. It's a great place to learn about properties then do the next one remotely. I don't want to be a dream crusher. I do believe Chicago is going to have a price adjustment this year and you might not want to miss any opportunities here. Best of luck! 

Westword 360 is great. I've only heard wonderful things. 

Hi Hailey, Most people on BP are driven to properties where the numbers work best. House hackers also have to focus on their lifestyle, personal preference and commute. You should figure out what works for you and your personal well being. Then target your research on those areas for ROI, investor appeal and neighborhood trends. COVID aside, the biggest factor I see that helps house hackers find their neighborhood focus is commute.

I like Fortune Restoration.I had a similar issue (although it wasn't sheet metal- I believe it was wood) Fortune fixed it fast, great work and kind people. I also highly recommend NestEgg.rent for maintenance and contract work. They have a section on their website for projects. I hope this helps. @Jonathan Klemm

You should put the request on Nestegg.rent. They have a section for maintenance that can help you with this. @Jonathan Klemm