All Forum Posts by: Michelle St. Claire

@Jimmy Lieu I use what Ernesto mentioned above. Another good source is to find property management companies in the area and look at what online listings they have that are similar. 

@Donald Cespedes

Ah, I've been looking too. The best bet is to BRRRR if you can get your hands on private money and do some work to improve the ARV. Then you'll be able to refinance into an FHA for 4 units or under and used the equity as the down payment. Easier said than done though as this is what I'm looking to do. I know people who are doing it here though.

@Robert Dabicci You can buy market value and leave 30% in the deal. However this is not scalable. For example, if you have $100k and purchase a property for that amount at market value then you will pull out $70k. If you use that to purchase your next property at $70k you can pull out $49k. You'll quickly get to a point where the money you pull out is not enough to buy another property (if your strategy is to own 3 properties only then this could work for you as 90% of your original 100% will be tied up equity that you can't touch unless your properties appreciate significantly). The beauty of the BRRRR - if done as prescribed - is that you can pull out of all your money to rinse and repeat infinitely. It is scalable.

@Robert Dabicci

I don't see why you couldn't. The challenge will be buying a property for 70% of ARV. Usually the rehab part is necessary because most properties that sellers will part with under market value need work. If you know how to find turnkey properties at 70% of ARV I'd love to know your secret :)

@Brenda Chen Thanks so much for the offer, unfortunately I have a work event I can't get out of now. Looking forward to hearing about it though. 

Thanks for sharing your research @Travis Raila.

I put together a sheet to look at unemployment, employment forecast and population growth:

https://drive.google.com/open?id=1oWmtKnBfc43yryYd...

Is anyone driving from San Francisco to this? If so, I'd love to carpool with you. Willing to pitch in for gas. Send me a message if you're down. Thanks!