All Forum Posts by: Yiwei Cheng

 Yep so I want to know where are you finding properties that is working for you?

I'm curious to know what locations you are seeing cash flow if buying at current interest rates (7.5-8%)?

How much is the property, and what cash flow are you seeing?

Thanks!

I agree that it should be based on market value, not what potential revenue (or past revenue) would be.  For loan mortgage purposes and if it ever gets sold, other people may not use that same strategy.

If you not tied to a specific location, the Midwest would also be a great place for STR without paying California house prices. I'm in Cincinnati and the city allows STR.

I would say A & B will appreciate the most.  Think of A neighborhoods like where everyone wants to buy in your city

Hi Erik, I would think you could buy a house (or 4 unit multifamily) for your primary residence and then rent it out!  You can live with your parents if you want, but having a house that is considered "your primary residence" is beneficial.  You can take advantage of your rates & rent out when you are out more than just long term rental.  You can rent furnished rentals on a 4 unit or rent by the room furnished.  For your 1st home, if it's in an appreciation market, as long as you are breaking even, you are getting equity.  In the long run, you will be able to sell or increase your rents.  Real estate wealth is built by buying & holding.

Hi Corazon, this is how I would think of class A, B, C neighborhoods:

Class A neighborhoods are the prominent areas where everyone wants to live, your most expensive houses, gated community, high end homes, high price points, great school districts usually

Class B neighborhoods have more rental houses, up and coming neighborhoods with lots of flips, you may also see yards not as nicely kept up, starter home neighborhoods usually

Class C & D neighborhoods are mostly rental areas, more run down or empty houses, street by street, more crimes in the area, lower prices to purchase

The classes usually has nothing to do with the age of the house.  

 Jacob, I would not recommend Streamline if you don't have a lot.  They have a minimum revenue requirement.  If you just have 1 or less than 10, I would stay with the basic software like Hostaway, Guesty.  Streamline is more of a enterprise software.

I don't think there's a "best" way either! I get a lot of my properties from MLS because I don't have time to market myself & didn't see anything from wholesalers. It all comes down to what properties & numbers work for you & what you are looking for. For example, I like to buy in Class A neighborhoods and I've found that wholesalers typically don't have much in those neighborhoods.

Hi Gabe, don't underestimate what you can do with 20k!  You can invest in notes/private lending so that you can make that money work for you and continue to grow.  You can also partner with someone with money to purchase a house, manage for someone, etc.  There are many ways to get started!

No one can time the market & now is always better than later.