All Forum Posts by: Andrea Ives

@Jenny Gardner Thanks for starting this discussion I was curious about this property when when I first read about it. I think the responders before me have adequately covered the possible volatility of this property when it comes to keeping permits, competing against the same unit one floor above yours, and not having a comparable market. I agree and think there is another missing aspect that hasn't been mentioned.

To me this property takes away the unique feel of staying in an AirBnb or VRBO, and transforms it into a glorified hotel. The concept behind AirBnb is experiencing life through someone else's home. 

I could see this property turning into a residential building in 8 years. 

 Account Closed I hope I get proposed to with a rubber band and a 3 cash flowing properties. You know what I'm not cheap make it 10.

I saw an ad for the site Mashvisor which claims in can analyze investment deals across the nation. It claims to be able to identify prime areas for your needs, and show cash on cash returns for both airbnb and traditional. Has anybody used this website and found it to be a good tool?

Hey Biggerpockets family! 

I need some help. I found what I think is a good deal and then it got even better. I found a condo that fits the one percent rule and then I found out that the same guy selling that condo has 3 others to sell as well. Can You help me decide on a few different offers to pitch? I have 100k cash.

Two of them are 2 bd 2.5 bath. One is a 2bd 1 bath. Listing prices are 114,000, 130,000, and 146,000. He is individually listing them but i want to see if I can buy all three at once and negotiate hard.

Unfortunately one of the tenants is grandfathered in and is about to start an 18 month lease for 900 a month. that is the condo listed for 114,000. This tenant disclosed to me that in the summer months her electricity bill has reached 400$. So I'm thinking I will need to replace the windows in all the units which will be costly.

Here are the other numbers:

Taxes on each home about: 2000

HOA: 2

I am having a little trouble deciding what market I want to begin my real estate investing journey in. My current market is too hot and in my opinion overly expensive *sigh.* I will be using an FHA loan so whatever market I choose I will be moving to for at least a year. My main goal is cash flow. I also am looking at other states as texas has high property tax rates. Does anybody have have advice about evaluating markets? Or have any book/article suggestions that would help with evaluating markets? Currently I'm reading David Greenes book about investing from a distance.

This is very inspiring! Thank you for sharing. @Account Closed 

So does this Tenant Buyer normally have poor credit? 

@Jack Inman That is great! I'm pretty sue I live in the cheapest apartments possible in Austin with three roommates. I don't think any one who saw my place today would assume that I am an inspiring real estate investor. I'm considering moving for my first deal because I don't care for the austin market as an investment but I want to use an FHA loan and then in a year move back and manage remotely. How did you buy your first deal?

@Grant Rothenburger I'm definitely going to have to get creative! Really everything is blown up here and Texas has some of the highest property tax rates in the nation which isn't helping. I am really considering other states now. Thanks to David Greene of course. Thanks for the perspective!

Hey @Ellen O'Neill I am 22 and am in a similar situation. Definitely getting a lot of different  opinions which is both a good and bad thing! For myself personally I am looking for a duplex which I will house hack. Not only will I rent out the other unit but also rent out the rooms on the side I will live on to girls around my age. Luckily there are quite a few colleges in my area so finding responsible girl tenants is not hard. 

I agree with the other users try to house hack because you can use a FHA loan put 3.5% down and even after closing potentially have a good amount of money left in the bank. Cheers!

@Danny Webber Great info! Thank you. I have reached out to the admins of the FB group you mentioned. I really appreciate hearing about new ways to connect with other investors.

I will definitely not do that then! Thank you @Doug Pretorius