I understand many folks have much if not all of their net worth tied up in equity in their personal resi.just hate to see one tap that equity buy a bummer property .. and create a mess for themselves.that happened a TON in the years leading to the great 08 crash..

Wait for the next crash then buy in LA when everyone else is talking about the american economy never recovering.

In addition, clearing the land exposes it to winds and removes the roots that hold up adjoining tree; in the winter storms, this could send a massive tree crashing down on my property, potentially destroying the cabin that I've spent the last year rehabbing with my own sweat equity.

My company transferred me to the Bay Area in 2008, just as the economy was crashing down around us.

:@Jay HinrichsI would certainly be interested if the property was in my area.I did a few thousand of these projects pre 08 its how turn key was sold when you had a robust refi industry. when refi died and went through the pearly gates in 08 that changed everything.. and thats one reason RE prices crashed the way they did.this worked best for out of area investors who did not want to take the uber risk with rehab and all the work it takes to try to build this mystery team..

And starting out, with self management, it’s OKAY to not count the property management fee….I know that’s un-popular on BP but I feel like that thinking came during the era of deals being bought during 2010-2015 when everything was low from the last crash and doing nothing but go up during the last bull run….I used to worry about every penny on net cash flow and for me, it was a type of analysis paralysis…..investing beyond cash flow has set me free and let me factor in so many other things like appreciation, equity growth, and reduction of taxes paid especially being self employed now… That is WAY more than you asked me….but I am just saying keep doing the analysis but man at some point you will only know what the net cash flow really is by having something giving you CF….and in reality it is not always perfectly predictable - someone loses a job and stops paying, breaks a lease, a hot water tank goes out, etc, and it wipes out CF for awhile and doesn’t fit into the perfect 5% capex / vacancy reserve formula…just my opinion.   

I am a big fan of audiobooks. Up to this point, every book I have listened to has captured my attention during my 1.5hr commute each way to and from work. I recently listened to the E-Myth Revisited (twice) and it ...

@Brian CowanActually, multi-families in general have been trending upwards for some time in Killeen / Fort Hood.I wrote a blog post just the other week on my favorite fourplex neighborhood which is currently "sold out", so to speak.Multi-families in Killeen were hit hard by the 2008 crash because, even though SFH and Texas in general survived with only modest drops in home values, a lot of the multi-families were owned by out-of-state investors from FL, CA and NY.  

Prices are normalizing to pre Covid levels, that doesn't mean there is a crash or a bubble that is going to burst and with the amount of people moving here, prices are only expected to increase overall.

@Jay Hinrichs my favorite was the post crash, pre run up, when you had Arbor building in DR Horton hoods and DR Horton building in Arbor hoods.