All Forum Posts by: Skyler Taylor

Glad to hear about your success Thad. I love purchasing property when the rent is below market value. The owner I recently purchased the full duplex from had been charging his tenant $850 for the past 5 years. I had the tenant removed and improved the unit up to my standard. Before I was even done renovating I had it rented for $1450 for a year and a half lease. Right here in the Midwest :)

 Thanks for your thoughtful reply. I do believe the caprates are low in that market. I made a few mistakes when acquiring the property. The main one was structuring in a 15 yr note. I had a 3.00% interest rate but I would not gain the benefit of the continued devaluation of the currency and inflation along with it killing my cash flow but knocking out my principal.

Again this was part of the learning process and BP along with other real estate investment books helped me understand this. Additionally when I purchased the property I had an HOA holiday for the first 2 years. Once that came due I was negatively cash flowing. I started off doing real estate using a semi bastardized version of Dave Ramsey. I know I know he says pay cash for investment properties but that just wasn't plausible to wait 3 more years to buy a property that's still on the down swing.

After reading the book everyone cites rich dad poor dad ii had a different perspective on how to make debt work for you. BTW just came from Nashville watched my favorite NFL team Titans play. Nashville is great and the downtown reminds me of San Diego when they started building like crazy downtown.

 http://www.biggerpockets.com/renewsblog/2015/02/05/bp-podcast-108owning-350-million-real-estate-10x-rule-grant-cardone/

Hey I appreciate the education from Bob. I am just from some hole in the wall with corn fields and 1 stop light ;) Hey Brandon you want to meet up and go line dance this weekend in Olathe

Woah take it easy buddy. I've been on here for less than an hour and I am already being called ignorant. You are looking for a fight where there is none to be had. In my introduction I said "Once I was focused I realized the market right in my back yard had better ROI and CAP THEN ALL THE OTHER AREAS I WAS LOOKING TO PURCHASE IN" Those areas not being California Bob. California was too expensive for me to purchase n 2014. As you know prices increased by over 30% from 2012 to 2014.

In the context your speaking yes the CAP rate is based on the individual market. However, I do believe my broker said that Southern California's specifically San Diego cap rates are low 4-6. However I could be incorrect I don't claim to know everything or much at all :)

I respect your right to defend SOCAL. Like I said personally multifamily works for me. I decreased my monthly revolving payments (skyrocketing HOAS @ 380 and climbing) while increasing my ROI and consequently cash flow. My 1500 per month in cash flow will well make up for any government subsidy you are talking about and tax sheltering is not why I invest in real estate.

Most people that I have encountered that are not into real estate investment worry about toilets and trash etc. that's one of the reasons why they claim they don't get into it. I  have a property manager and I also put premium materials so that I may charge a premium rent and attract a better tenant.

But Thanks for your Post

Thanks for he welcome I will definatly reach out to you

 Clarification $1450 per side roughly 3k per month :)

 It was a pretty easy for me personally. I purchased a 500 sq ft condo in San Diego for 209k and it was renting for $1450 per month. I recently purchased a full duplex for 212k and it rents for $1450 a month. Rents are high in Southern California and and property values are even higher. I can make more money back home on less debt so I took my 50k in appreciation and bounced. 

Hello everyone. I am Skyler Taylor from Overland Park KS a suburb of the Kansas city area. I stumbled on bigger pockets back in February of 2014 when I was looking into how to do a 1031 exchange. I have been following the site since then. I love the podcasts and have benefited from the book recommendations and information on tenant screening.

I'm a small time investor. I made my first purchase back in 2009 when I bought a condo in Miami Beach at the height of the housing crash. I later purchased another condo in 2012 in the gas lamp district of downtown San Diego. After reading the BP site and other RealEstate books. I started focusing my efforts more on growth and using metrics (ROI, cap rates, etc) instead of just cash flow. Once I was focused I realized the market right in my back yard had better ROI and CAP then all the other areas I was looking to purchase in. Armed with the new insight and direction I then purchased a half duplex using the home path 10% down investor loan program.

Here recently I sold my condo in San Diego and used the proceeds to buy a fairly turnkey single family and a full duplex that required a lot of updating. I also obtained my KS Real Estate Licence during the process. All of this all happened over the summer of 2015.

After listening to the BP podcast with Grant Cardone (6 times) I have been obsessed with increasing revenue. I love his idea of not focusing on saving/penny pinching but putting all your efforts to growth. No one ever got rich by clipping coupons. So now I'm in the process of learning everything I can about multifamily commercial RealEstate. 

I have partnered with some friends and we are in the process of forming an LLC so that we can purchase a 10 to 15 unit multifamily in the greater Kansas city area late spring of 2016. I have a long way to go and a lot to learn but at the minimum I felt like it was time to network and contribute on the BP site.