All Forum Posts by: Alex Capozzolo

@Guido Bertoli Congrats on the your first deal! It sounds like you already built some equity into the Condo through your renovations, great job. You are halfway through the BRRRR Strategy (Buy, Rehab, Rent, Refinance, Repeat). Once you get that bad boy rented, a good strategy to pull money out and begin to scale is a Cash Out Refinance. I would consult with a local lender in the East Bay and consider all options that you have. Let me know if you need a referral! I've seen lenders lend ~60% of a property's value after renovations for Cash Out Refi's, but definitely feel out each option. From there, you can take that cash and begin investing in your next deal, and REPEAT. Good luck !

@Kyle Joseph Marketing/Branding is important down the road, but I wouldn't say it's a make or break when you're starting out. The quickest way to establish credibility in the industry is to simply start taking action. The best thing you can do is start trying to find deals in your area, and try to lock one down! Networking and partnering with someone who already has an established brand is also an option. Creating an LLC for your portfolio can bare many benefits when it comes to personal liability protection and taxes.

@Romain Amrani Very ambitious for your age I love it! Great attitude man, keep that up and it will take you far. I spent about a year 'studying' everything I could Real Estate, and it was great. I learned a ton and it was super beneficial; however, if I could go back in time I would have started taking action earlier. My advice, get your mentor soon (which it sounds like your taking steps to do), and try to add value to him/her. You can do this by either offering to work for free in exchange for knowledge, or you can see if they can set you up with some marketing strategies to try to help them find deals. Flippers who flip homes regularly are always looking for great, new deals. If you can start up your own marketing campaigns and find bring them a deal, offer to split it 50/50 and have them walk you through the entire process. That is how I got started ! 

https://www.biggerpockets.com/blogs/9748/61640-yel...

^ Here's a blog post I wrote on how to start marketing for deals with a small monthly marketing budget. I used this strategy to start off when I had ~$100/mo to spend on marketing for deals. 

Let me know if you have any questions in the future and good luck !

@Faith Aram Some Investors who live in the Bay Area do participate in out-of-state investing; however, that doesn't mean there are deals to be found here! Cashflowing rentals are more difficult to find; there are strict rent control laws, and CA is a very tenant friendly state. Current home values are basically as high as they've ever been in the Bay Area, and inventory is very low! So if you find a deal, there is a great chance you'll receive multiple offers above your asking price. Flipping can be a good strategy out here because of the high price points of homes; value adding projects can bare huge returns. Many areas slightly outside of the main Bay Area hubs of Oakland, San Francisco, and San Jose have taken off and can be great opportunities for investing long-term. People continue to move here from outside of the state, unemployment rate is great, and they are extending public transportation routes. There's some great opportunity out here, and a lot of competition! Definitely the wild wild west, but people continue to find great deals. If you make your way out here, let me know if you want to grab coffee and chat ! Good Luck :) 

@Ashley Watkins A belated welcome to The Bay! As I'm sure you're finding out, competition is intense here and deals can be tough to find. The MLS can bare some opportunity, but I've noticed more and more investors explore off-market strategies for finding deals where the numbers work! In terms of areas to Invest in, there are solid opportunities for house flips all around. Oakland has changed dramatically over the past few years, prices literally skyrocketed. Try to keep tabs on the BART extension. SF and Oakland residents are moving further and further away from the city centers, as long as they have BART access back into the city. Neighborhoods near a BART station definitely have potential ! Places like Walnut Creek, Concord, and 'East' East Bay have been improving their downtown areas and establishing a more appealing place for people to live! Best of luck on the Investment Hunt !

@Jason Tejano Welcome to BP ! You came to the right place to learn about RE Investing! There is literally information on any topic and every questions you can think of. Dive into the forums, explore topics, learn from others' mistakes, and connect with locals! I've been on BP for ~2 years and I learn something new just about every time I hop on. Cashflowing rentals are a great strategy to build long-term wealth for you and your family. Good luck out there, and don't get discouraged by the competition of the Bay Area; there are deals to be found, they just require a bit of persistence to find!

@Munim Jalil NYC is massive, and can be overwhelming. If you have a set neighborhood or area you think is worthy of investing, begin some analyzing deals! You're right, NYC is crazy expensive. The infamous FHA loan at 3.5% downpayment for a multifamily is a great strategy if your goal is rental income and monthly cashflow! I would link up with a lender too and see get preapproved, then find a few wholesalers (through your local investor meetups) and maybe a realtor who can all help you find good deals that are potentially 'off-market' and more affordable!

REIAs are definitely a great start. You can also try browsing Craigslist for 'cash buyers'. Also, searching for nearby BP members can potentially lead you to some! Keep up the networking, and they will come !

@Matthew Lockwood A quick n dirty start would be to just browse active Airbnb listings in KC. You can also cross reference those to VRBO, as well as local hotels. Then, assume that you may have to price your condo on Airbnb slightly below the market rates to drive eyes to your listing. Once you build a solid amount of positive reviews, you can begin to raise your pricing. Good luck !

@Jeff Schulman See if the realtor you are working with can pull a report of cash buyers in your area, and then market your property to them to add some addition traffic !