All Forum Posts by: Aaron Hunt

Summerlin. If the economy goes to crap. Ppl will always still want to live in the nicer/safer areas.

Two years ago was when I left Vegas. I was there for exactly 2 years. 

In that time I collected rentals, and let the appreciation boost my net worth.

Gained so much it makes the cash flow look irrelevant in comparison. 

Need to eventually 1031 out and up but I’m letting it ride for now cause I’m too busy these days.

@Matthew Ruderman

Own in both Charlotte and Vegas.

Would continue to choose Vegas any day.

Appreciation potential is much higher.

There is varying degrees of turnkey as well.

I consider turnkey as being a nice place that doesn't need "major" work. And maybe my definition is wrong. I just don't consider them BRRRR flips.

I still move forward on deals, if I have a place that needs new paint, carpet, appliances, etc. This means I’m still the one writing them off as expenses (passive loss carryover due to income level). I avoid places that I’d need to have a house full of junk hauled out (hoarder home) or needs flooring work/walls/ceiling/roof or foundation work.

Then I sign off on the fixes, rent rate and ultimately the tenant with my PM team.

@Cameron Tope

The biggest problem for me has been that I have little time in my day to look up more deals/properties. I rely on others to let me know. However, even getting the team in place takes times and money. I read about these awesome markets and wish for the day I can go there myself and get my due diligence on and enter a cashflow heavy area.

With COVID, my world got flipped upside down, and I have been working 14-18 hrs/day, 6.5 days a week all of a sudden. I haven’t even been on Bigger Pockets in months because of it!

Naturally, in higher income professions, where one is you making over $100/hour in your day job, you start to wonder if the struggle to make an extra $100-300/month per door as a landlord is really worth the headache and time invested. For me, there HAS to be some level of appreciation.

REI or not I can retire early with my day job/saving/investing in stocks, etc, but I enjoy collecting properties and being an REI on the side. In addition, I'm also a passive original shareholder in a start-up local brick and mortar bank (that has tripled it's assets since I got in) - so I'm looking at diversifying further.

Now, because of my day job (my identity) no one would ever know, or consider me as an investor or as a businessman. However, with 7 figures+ worth in turnkey investment properties (while still in my early 30s) I probably cashflow and do more as an investor than many on BP. I’d imagine at some point that’s what I will be classified as.

My next move is creating and managing a RE Fund.

@Cameron Tope

Bingo.

I fit that category with my W2 job. I need ways to tuck away that money and also allow it to grow further. Turn key real estate outside of (my VHCOL) this area is how to do that for me without too many headaches..

Otherwise, it all turns into a real life version of the SIMS computer game where we start upgrading and buying

expensive crap around the house we don’t need...

@Steve Chan

Because our HHI is ~$400k as W2 employees, and my 401k allows us to invest in individual companies.

So since the market bottomed, I was able to load up on individual hotel + cruise stocks, and flip them for a 20% gain in a matter of weeks.

How long might it take me to do that with my rentals?

I’ve collected on 3 of 3. I believe one is going to defer payment this month & next. Likely because...they can without fear of eviction.

Went after multi-family more aggressively.

@Robin Morales

Hardly any. I barely have time to turn the places over when they do go vacant. All 3 tenants renewed for another year with rent increases.

I own 3 in Vegas...but live in DC. All going well. Best investments I personally own. Stick to Summerlin.