All Forum Posts by: Stephanie Chiramberro

@Greg R.

At the end of the day, do what will make you feel good about getting started. You can develop relationships until you build trust with people. Didn’t know my GC and PM for too long. Found my PM from a BP forum recommendation and found my GC through my realtor who I found as a recommendation from A BP forum. Got client referrals for both to find out the good and the bad of working with them. Do your research and due diligence to lower your risk.

@Greg R.

You should do what makes you feel comfortable. If starting small does that, do it. It’s about getting started and learning from your first deal. You can move up after that.

As for the recession, people have been saying it was going to happen a couple of years ago, it will happen next year, two years from now and have even heard it will happen in 10 years. It’s something you can’t time but as long as you have plans B and C for your property, it helps mitigate risk. If it does happen soon, ride it out for a few years and you will come out on top.

I’m buying in Kansas City which isn’t seeing appreciation like California but I’m buying in a part of town that’s appreciating more than other areas of KC. Also doing a value add project that is forcing appreciation.

For BRRRR-ing, I have an amazing GC who is on it and provides updates with photos on a weekly basis. I have a property manager who I've been working with and trust as boots on the ground. He's been doing similar projects for over 30 years. He's going by every day to check on the project as is the GC. I've been flying out there every 6 weeks to check on it but it's going so smoothly I probably don't need to.

For those investing in the SF Bay Area, what are you doing that is seeing a lot of success? Flips, buy and holds, BRRRR-ing?

@Miguel Castillo hard money lender found through a broker. Can put you in touch with both of them if you’re interested.

@Greg R.

Based on your goal of wanting cash flow in the near future, buying out of state is the way to go. You can buy a decent amount of units with your money. I would buy as many units as you can. You can get good returns on SFR's but you're also paying for maintenance on multiple roofs, yards, etc. in different locations.

Based on your goal of wanting to refi and invest in other properties, you should look for areas that appreciate well or a value add project. If you find a great contractor and property manager finding a BRRRR project won't take too much of your time. They'll do all the heavy lifting. Make sure they have great experience and ideas. Ask for their references.

If you do decide to go out of state and want recommendations for great investor-friendly realtors, let me know. I meet realtors all over the US.

@Aaron Wong I’m interested but am busy on Wednesday. Would like to know about the next one!

@Kyle Calica

I help lease apartments in Daly City and we’ve been able to increase rents while still getting good tenants. Although we’re seeing it is taking a little longer to rent them compared to last year. Sometimes we’ll have to lower rents a smidge but the rents are still overall more than we had previously rented them.

I second that - @Michelle Lutz is very knowledgable. I'm an out of state investor and she helped show me the ropes on neighborhoods. She's an investor herself so knows the best ways to analyze ROI and what's a good deal in KC.

@Nick Wilson I’m in CA and Kansas City is a great market. Cash flowing properties with a growing population and lower than average unemployment rate. Know a great realtor if you’re looking for one. PM me.