All Forum Posts by: Aldo Fazio

Hi Scott,

Thanks for posting! I'm in a similar situation as you, except I've read a few more books! I just started Small and Mighty by Chad Carson. I read the first chapter last night and it's off to a great start! I live in Guernevelle and agree with everything you mentioned about investing in the North Bay. I wish I had advice, but I'm here just to say "keep up the good work!" If people like us don't take some kind of action, we'll never succeed at investing! So let's keep reading, researching, and reaching out!

~Aldo Fazio, General Contractor

 Thanks for your response! This is great info and will help keep me steady on the path!

Hello BP people! I'm new to investing, though I have been reading about for at least 1 to 2 years now. I feel like I'm ready to rock. I'm hooked up with a couple realtors in the market where I'm shopping, which is Kansas City. I chose this market mainly because my wife is from there, and because it's affordable compared to where I live in Guerneville, California. I'm certainly qualified and getting pre-approved for a loan, though I've thought about purchasing cash (up to $100K or so). I've been talking to a PM that seems capable and experienced and is also a BP member.

Now, I know analysis paralysis is a thing, and I've been analyzing lots of deals. The thing is, the numbers just aren't working well. Is it really this difficult to find what I'm looking for? I suppose I should be more patient, but I don't want to be "paralyzed" by analysis. I also don't want to drag my agents all over the place looking for a deal that doesn't exist.

My strategy so far is to buy a nice, rent-ready SFR, in a nice area, that would be desirable for a working class family. I'm hoping to attract good tenants and also get good appreciation. With interest rates and prices where they are, I'm planning to use a larger downpayment just to get it to cashflow by keeping my mortgage and other expenses lower than the market rent.

If anyone has comments or suggestions, I'm all ears, and I would greatly appreciate it!

Thanks in advance for your expertise and wisdom!

~Aldo Fazio, General Contractor

Hi Brian, it sounds like you made the right move. I'm in a similar situation (and location, Guerneville) in that I had to walk from a cash deal in Kansas City, MO just last month. It all seemed good on paper but we couldn't see the place till it was under contract, which should have been a big fed flag. There were long term tenants for 13 years and wanted to stay. The rent exceeded the 1% rule so I made a cash offer and got accepted. The place ended up being a neglected lemon occupied by hoarders! Naturally, I walked. But what's a newbie to do? I have been analyzing tons of deals in KC and the numbers just haven't worked yet. Do I have analysis paralysis or am I not finding the right kind of deal? Who knows! Best of luck to you on your journey, and I hope to see you on here or in town!