I am new to BP and would like to know more about REI remotely in US. The region where I live in west coast of Canada is way too expensive to get positive cash flow.The stories I heard from BP are so inspiring and I would like to learn more from you all, especially the current market, potential states etc.
I looked at Spokane MFH and couldn't get the cash flow I wanted. I have a couple in central WA and a couple in Oly Penn that are doing fine. Oly Penn was major fixer and unmortgagable for people who wanted to buy it. I had 50% down so owner financed. Over here on the west side of the mountains it is hard to find something that will cash flow since prices are so high.
I am but I bought my rental a year and a half ago. Thats the only reason it cash flows today. If I bought it at its market value now it would be very tight if it made any money at all.
You can still find cash flowing properties but they will more than likely be big fixer uppers. Those are hard to find now a days in this current market...anywhere really. That or off market deals that are just a steal. I should add this is for SFH. MFH can be a bit easier to cash flow (at scale) but they are rarely on the market and if they are its not for long.
I looked at Spokane MFH and couldn't get the cash flow I wanted. I have a couple in central WA and a couple in Oly Penn that are doing fine. Oly Penn was major fixer and unmortgagable for people who wanted to buy it. I had 50% down so owner financed. Over here on the west side of the mountains it is hard to find something that will cash flow since prices are so high.
I have one flip that should be listed end of jul and expect net of $45000 another end of Aug should net $25000. so that would be 70k in 5 months. a little less than desired but acceptable ;)
I have one flip that should be listed end of jul and expect net of $45000 another end of Aug should net $25000. so that would be 70k in 5 months. a little less than desired but acceptable ;)