All Forum Posts by: Tom Wagner

Thanks for the detail James, really appreciate it. I saw your post in another thread about Arvada legalizing Airbnb's. Do you have any insight on other inner-ring suburbs? Englewood, Lakewood, Wheat Ridge, etc.

@Amy Ranae any update on your research? Very curious!

Some stats that investors are interested in include population growth, vacancy rate, annual rent growth, projected property appreciation, just to name a few. This data comes from a variety of sources so I'd recommend digging through the forums here on BP to find the best info.

Following! I've heard good things about those two tools as well. And I'd love to see some training or educational materials about the differences of SFH buy and hold analysis vs multifamily analysis, so if anyone has any resources they'd recommend please share.

One thing that bugs me, though: when a company expects you to drop hundreds of dollars on an analysis tool without a free limited version or detailed walkthrough. Prove to me your tool(s) have value before asking for my money!

Seems like a solid deal on the surface! And your assumptions seem reasonable. Double check the tax records on the county website and make sure to shop around for a better rate than 3.5% -- you can definitely get below 3% if your credit is decent.

I think a lot of good insight has been added in this thread. I'll add one thing -- If a property has been on the MLS for two years and comps are 2x the asking price, something is off. Run away and run fast.

Sounds like you need a new accountant! You are absolutely correct and here is the authoritative guidance from the IRS:

https://www.irs.gov/taxtopics/tc701#:~:text=You're%20eligible%20for%20the,to%20its%20date%20of%20sale.&text=However%2C%20you%20must%20meet%20both,the%20date%20of%20the%20sale.

Welcome Anthony! I would take a look at Northeast Minneapolis. Plenty of areas may give you slightly higher cash-on-cash returns, but I get the feeling an additional $200 per month in cash flow isn't going to materially change your life. True, generational wealth in real estate is built through appreciation, and with all the development going on in Northeast I am very bullish on the neighborhood longterm.

At what point should an investor doing manual recordkeeping in Quickbooks switch to a more custom software? 1 property? 5 properties? 10 properties?

Hi Grace -- I find Pittsburgh really interesting and hope to invest there some day. In regards to evaluating neighborhoods, I would evaluate street by street but also remember that neighborhoods gentrify over time as a whole.

For example, if a rougher street is wedged in between five nice streets, it is only a matter of time until that street is also a nice street.

My two cents!