All Forum Posts by: Account Closed

Hi all,

Just wanted to reach out and see if anyone else on BiggerPockets is planning to attend the SSA Conference in Orlando in a week! Would love to connect and meet some BP members in person!

Best,

Bill

This is what I would do:

1- rent out the two properties you already own. Didn't see what type of homes they are, but I think there are multiple options for how you choose to rent them out.

2- get HELOC prepared on the two properties you currently own

3- start a marketing campaign to get off-market deals whether this is cold-calling, sending letters, etc., begin to create a systematic process for reaching off-market sellers. Ideally, this would be passive in the sense that it is not you doing everything. A VA could be a huge help here.

4- be prepared when the deals come your way. Have an action plan for what kind of deals you are looking for, how you are going to fund them, etc.

5- depending what your goals are, make the deal happen.

But as previously said by the guys before me, have clarity around what you are looking for, and the universe will gradually bring those deals your way. Good luck.

I am looking to learn as much as I can about rent by the room in Northern New Jersey! I would love to connect with anyone in the area who is doing this, so please reach out if you are or if you know anyone else doing this strategy!

Which websites, newspapers, or recently published books are best when trying to do research for real estate investing? Currently, I do not think my reading of the Wall Street Journal is cutting it. I am trying to make an educated first multifamily home purchase by the end of the year

I worked as an intern for a commercial solar energy team, and the state at the time (summer 2019) with the quickest paydown was Massachusetts, which had ~50% of the income coming from SRECs. From my experience, solar energy's profitability really depends upon the area you are located in because government incentives make up a large part of the profitability of solar given the way the industry currently stands.

However, there is a definite opportunity for solar energy in the commercial as landlords can "rent" their roofs to a developer who will maintain the roof as well as give the tenants/landlord a consistent cost structure for the energy produced from the system. There are private-equity firms that specialize in these types of deals, and I would be happy to chat with anyone who might be interested in learning more. The tax incentives certainly make it a very interesting space.

Hi Sean! I am also interested in STRs and live in the Morris County area. I will shoot you a message now, and maybe we can collaborate on figuring out a way to systematize this for the markets we are mutually interested in.

Hi Chris! Thanks for sharing your story. As a new investor, I am looking to make the jump on my first property, and stories like yours give me the confidence that I am on the right path towards my dream of financial freedom. 

What advice would you give to someone just starting out?

Currently, I hold mostly stocks, so I am looking to make a purchase in real estate. While I have seen pretty significant returns in the past two years, mostly due to good timing, stocks have a greater standard deviation, fewer tax incentives, an inability to use leverage, no renters paying off your mortgage. As a result, I could see both the argument for a real-estate heavy portfolio for these reasons, or you could argue that the benefits of diversification in your portfolio create less idiosyncratic risk, which is the risk associated with an individual asset type or class or company, industry, or size in the case of stocks. However, a diversified portfolio does not get the highest returns; it mitigates the idiosyncratic risk. The market risk of these investments is always there. Given that real estate tends to experience more stability than other classes and the other reasons I previously listed against stocks, I think that real estate is probably your best bet. Listen to BP Podcast #500 with Robert Kiyosaki too. Best of luck!

Hi Albert,

Any of the major cities in Ohio have the potential for deals! Just make sure you know the areas you are investing in well before making a purchase. Like every other city, there are market specifics to each that may dictate whether a property is a good deal or not, the potential for appreciation, and the quality of tenants you might get.

Good luck!

Hi,

I just wanted to see if anyone else had come across these two sites (https://homesales.gov/homesale... and https://www.hudhomestore.com/H...) and what your thoughts on using these to potentially get a deal!

The latter link looks like it might be specified to non-profits, government entities, or those employed as an EMT, firefighter, law enforcement officer, or teacher.

I am from NNJ, so trying to find some potentially creative methodologies for finding deals! Thanks in advance!