All Forum Posts by: Account Closed

@Jaysen Medhurst I would tend to agree, but it still has me thinking. What cities could you generate the best returns on $1M or even $500K?

Hey BP,

Let me just start out by stating that I DO NOT have $1M, nor would I disclose my net worth /cash on hand for a general post. Hopefully that eliminates the “really bright for you to post you have $1M in the bank to invest crowd (said jokingly, but I see it happen quite often lol).

That said, I was scrolling Instagram last night, and a “influencer” I follow was asked the following:

“How would you invest $1M at age 25?”

His response (not verbatim, but more or less):

“I’d buy rental properties. I’d be generating $50K/month and have the real estate worth $1.3-1.4 M in a year.”

My first thought is, smart guy. However, my instant reaction is to run the numbers in my head. $50k/ month revenue off only $1 M?....

Maybe it’s because I’m predispositinsed to California RE prices, but I don’t know if that’s possible anywhere in the U.S.

That’s:

25 units @ $2000/month ea.

50 Units @ $1000/month ea.

100 Units @ $500/mont ea.

And the single family numbers certainly do not add up....

So, my questions to BP are:

How much revenue could you generate per month with $1M?

What city/cities would you do it in?

Does anyone know a city where

“

Waiting for @Chris Mason’s response as well. He always provides informative/solid financing advice on BP.

@Carter Livingston the best price I could find for dual pane windows in Sac was through Home Depot. It cost me roughly $2300 for 11 dual pane windows (low-e) of various sizes (not including a sliding glass door). The brand was Jeld-Wen. You can go to the doors/windows department at HD, and they’ll custom order retro-fit windows based on the dimensions you provide. I can’t recall if you provide the exact window hole size or subtract a bit off when you provide the measurement. Ask the HD employee how to measure/provide measurement. If you are planning to do all the work yourself, and are using the existing window holes, then do some quick research on retrofit windows. There are a few different window styles based on the exterior house material and application. The last house I did was 95% stucco and the windows had a flange around the outside, not a block style. Pretty easy to install. Again, price above was for windows only. No installation or labor, as we did the install ourselves. Good luck!

If you're planning to by a duplex as a house hack, can you purchase each unit separately? Financing one unit as an owner occupied property (low money down like 5% conventional) and the other as investment property (20% down conventional)? Why I'm asking: So, as a hypothetical, if I bought a duplex for 500K, but I'm only approved for up to 400K on a loan, I'd have to cover the additional 100K in cash. But, if I bought 1 side for 250K as an owner occupant, I could put $12.5K down on that side, and 50K down on the non-owner occupied unit. So $62.5K down total, vs. $100K+ for the same property. Is it possible to finance a property in this manner? If so, does each unit have to have its own address? I see some duplexes with one address, and others with two. Still learning the small multi-family game and would appreciate the info! Thanks in advance, Taylor

What are some ways to determine the top real estate agents in a zip code? - Listing and buyers agents (Those doing the most volume, quickest closings and least DOM) Thanks!

Hello all, I'm finishing up my first live n' flip right now, and planning to have it on the market in early May. That said, I'm starting to look at how I can begin generating more potential deals. I will probably live n' flip again, but should have enough cash/financing to do a traditional flip as well (simultaneously). My question is, what strategies are YOU using to generate deal flow? It seems like everyone and their mother (no disrespect to any moms, just a figure of speech :)) is using direct mail marketing. I've also thought about using virtual assistants from abroad to ramp up cold calling. Beyond that, I tap into my personal network to let friends, family, colleagues etc. know what I'm doing and what I'm looking for. Essentially, I'd like to know if Im overlooking any other strategies. Looking forward to your input and responses! Thanks in advance, Taylor

Mark Pedroza I appreciate the thoughtful and informative response! That was extremely helpful. Thanks!

Mark Pedroza a question stemming from what you just said... if you hold a real estate license, but want to sell your personal residence FSBO, can you do so? I'm assuming you'd have to disclose that you hold a RE license, but would you also be required to pay part of your commission to the RE brokerage you hold your license under/work for?

Hello all! I'd be interested in meeting up as well. Please keep this post updated with potential time/date/location, and let me know if I can help in any way.