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27 September 2024 | 48 replies
Verifying last 2 years of rental history and income extremely important to find the “best of the worst”.Make sure you understand the Class of properties you are looking at and the corresponding results to expect.PM us if you’d like to discuss this logical approach in greater detail!
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24 September 2024 | 4 replies
I live in the SF Bay Area and have decided to buy my first single-family home.I fully acknowledge and recognize that the SF Bay Area and California (in general) may have some of the worst cash flow numbers in the entire country.I've already traveled to cheaper Midwestern states to look at real estate opportunities, but have decided to invest here in the SF Bay Area as I'm purchasing with the intention of living in it first and foremost, and then renting it out sometime in the near future when I move overseas.I'm looking for anywhere in the Greater Bay Area/Northern California region (even Sacramento & Central Valley is okay) with better than average purchase price to rent ratio, and some appreciation (if possible).
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26 September 2024 | 2 replies
I have seen a lot of investors get stuck with a Heloc that they opened up and due to a small mistake find out the bank cut their heloc limit in half or in some cases closed the account leaving them with a balance to be paid off before they could even finish a renovation project.Heloc rates are much higher right now versus a 30 Year cash out refinance by over 3-4% in some cases higher depending on credit score, CLTV, and loan size.
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27 September 2024 | 47 replies
Verifying last 2 years of rental history and income extremely important to find the “best of the worst”.Make sure you understand the Class of properties you are looking at and the corresponding results to expect.The City of Detroit has 183 Neighborhoods we’ve analyzed.PM us if you’d like to discuss this logical approach in greater detail!
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24 September 2024 | 4 replies
You can hear real-world examples of how others have built their investment portfolio and (hopefully) learn to avoid their mistakes.4.
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24 September 2024 | 9 replies
@Melissa FinneyEven if someone give you a referral, what meets their expectations, may not meet yours.In our experience, the #1 mistake owners make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.It's often a case of not doing enough research, as they don't know what they don't know!
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25 September 2024 | 7 replies
., put all your best properties in 1 LLC and worst ones in another, or conversely, only put 1 good property in each LLC with 1 bad property).
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23 September 2024 | 1 reply
@Mateusz SkibaRecommend exploring as many sources as possible to get referrals AND cross-reference them to get as much accurate information as possible.Check out NARPM.com, BP’s Property Manager Finder (BiggerPockets: The Real Estate Investing Social Network), etc.Also, encourage you to learn from the mistakes of others - by reading posts here on BiggerPockets about owners not having their expectations met by their current Property Management Company.
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27 September 2024 | 27 replies
I do not have the time to look at everybody's videos and I can afford to pay someone for their time, experience and knowledge so I can get started and not make the same learning mistakes they did.
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25 September 2024 | 16 replies
@Phil Averywhen you've made as many mistakes as I have, you're bound to start winning!