All Forum Posts by: Tanner Marsey

I know there are books and articles and everything online about how to start with little/no money. I think, in general, they are telling you how to invest little to no money up front. They aren’t telling you to invest without proper funds. Not having adequate reserves is setting yourself up for failure. My advice.... partner with someone that has the money. You find the deal, run the project, whatever..... do all of the non monetary things needed. Take a portion of proceeds. Do that a few times and then maybe branch out on your own. Trying to go it alone with no money will result in failure 99% of the time.

Like pretty much any industry.... “buyer beware”

@Jack Edward Johnson

There ya go.

@Jack Edward Johnson

Not that simple. Lots of other costs need to be factored in. Taxes. Realtor fees. Possibly attorney fees. You’ll take a big hit on the taxes. Your 100k could turn into 40k real quick. Do your research beforehand.

Definitely an issue rampant on the CA coast. And probably some other markets. 

Off topic but are you currently operating in summerlin/Vegas area?  

History repeats itself. 

Is it the best use of that asset.... probably not. But to each their own. If I was not interested in RE and inherented a home worth 750k that could rent for 3k and put probably 2,500 a month in my pocket.... you wouldn’t hear me complain. But like I said, to each their own. 

Also blows my mind the sacrifice people will make to live near the beach or to enjoy the weather. Go buy a 200k home in Tennessee and crank the HVAC. You’ll still come out ahead. 

There is just not a huge push or emphasis to own property anymore amongst people my age. I know plenty of couples in their early-mid thirties making around 200k/year that rent when they could easily buy. Why? They want to live at the beach, they want to buy nice cars, travel, have dogs, and go out and pursue hobbies/experiences instead of saving up 200k for a down payment. They have no problem, financially, paying 3k a month on rent and they don’t think twice about “throwing away money” on rent.

Another thing I notice is that people feel entitled to live in certain areas. Another online forum I frequent is constantly chattering about home prices in the city I grew up in. Average home is probably about 750k. 850k for the real desirable areas/nicer homes. I constantly see young people bitching about how the city/government should be putting a ceiling on home prices or offering affordable housing to them because “they grew up there” “their entire family lives there” “they don’t want to live in the inland empire” “they love the beach”.... so they rent. And rent is high. And they don’t make that much so they can’t stack anything for a down payment. So they continue to be stuck in the vicious rental cycle forever or until some major chunk of change comes their way (inheritance).

Either way, I don’t see what the big deal is. People are always going to rent. People are always going to buy. If you’re smart enough you’ll be able to cater to both customers when the time comes.

@Garrett Blanchard

It’s been done a lot. At least here in Southern California. I don’t really see an end in sight. Might be a good thing to get into.

Posted about this in the commercial section but I know this portion of BP gets more traffic and a lot of people on here are involved in many things....

Anyways, I have been approached about investing in a commercial “cosmetic” building. Tenants rent a small unit from you where they conduct their business which is generally things like make up, hair, waxing, eye brows, tattoo removal etc....

There seems like a lot of upside to this opportunity for fairly low risk/maintenance.

Admittedly, I am unfamiliar with this space so looking to hear about the downside of it.

Any feedback, advice, stories would be greatly appreciated. Thank you!

Good morning.

I am a residential buy and hold investor but have been approached about partnering on a commercial “cosmetic” building. Essentially a bunch of small office spaces, very minimal furnishings, low maintenance type of units where individuals have clients come to get cosmetology type work done. Hair, make up, waxing, eyebrows, etc....

Admittedly, I am unfamiliar in this space but it appeals to me for a few reasons. Seeming low maintenance. Tenant is responsible for pretty much everything in unit besides lighting and water. No/very little landscaping. Growing industry. Turning over units would require very little work/money.

Concerns: not recession proof at all....

Anyways, if you’re in this space I would love to hear some feedback and maybe be made aware of some of the things I have missed.

Thanks so much!