All Forum Posts by: Andrew Garcia

Hi @Logan Stralka, welcome to the community!

The good news is that everyone you connect with on here also has a passion for real estate. At least I would hope so.

BP is a great place to do all the things that you mentioned. Listening to the podcasts that BP has to offer is a great place to start. 

The bookstore also has some great resources if you prefer reading.

I would love to connect!

I am excited to see where your real estate journey takes you!

Hi @Dustin Gapusan, welcome to the community!

If you go to the "Network" tab at the top of the screen, you can type in "Honolulu, HI".

Look for people that have the "Investor" tag.

From there, you can connect with people in your local market.

Just remember, don't spam anyone.

Hope this helps! Let me know if I can be of any assistance.

Hi @Trent Reeve, there is money to be made in both the LTR and STR spaces.

If your issue with investing in Atlanta is that it does not cashflow very much, you can look at some other markets that cashflow better.

STR is a different beast entirely so make sure that you know exactly what you are getting into if you choose to pursue that option.

As for the specifics, a local real estate agent that specializes in STRs would likely be your best bet for learning those details.

Since you are fine with investing in STRs out of state, maybe try looking for LTRs out of state.

Hope this helps! Let me know if I can be of any assistance.

Hi @Nina Mzykyan, welcome to the community!

I would love to connect with you!

You are exactly the kind of ambitious and action-taking person that we love here in the BP community.

I look forward to seeing where you go in real estate!

Hi @Brice Perry, welcome to the community!

If you go to the "Network" tab at the top of the screen, you can type in the location that you are looking in.

From there, you can connect with people in your local market.

Just remember, don't spam anyone.

Hope this helps! Let me know if I can be of any assistance.

Hi @Kyla Thompson, welcome to the community!

If you go to the "Network" tab at the top of the screen, you can type in the location that you are looking in. 

From there, you can connect with people in your local market.

Just remember, don't spam anyone.

Hope this helps! Let me know if I can be of any assistance.  

Hi @Dhruv Kalaria, there are a few things I see. Below is my feedback.

1. 2% vacancy is really low, especially for an STR.

2. A 5.2% interest rate is low unless you are buying this as a primary residence and renting out part of it or an ADU as the STR.

3. 3% for maintenance and cap ex is also really low, especially for an STR.

4. You did not include any utility expenses. 

I would re-run the numbers once you make the necessary adjustments and see if it still works.

Hope this helps! Let me know if I can be of any assistance.

Hi @Brian Langstrom, it really all comes down to the bet of whether house prices will decrease or not.

If you sell, you will have to pay closing costs, realtor fees, and capital gains with your strategy. You could lose 10-15% of your buying power this way. In addition, even if there is a correction, inflation is at 8.6% so the correction will be minimal.

I would recommend you stay the course.

As the saying goes "time in the market beats timing the market". There is another popular saying that goes "be fearful when others are greedy and greedy when others are fearful".

Maybe using quotes to make million-dollar decisions is not the best idea.

In short, I do not know whether housing prices will go up or down and by how much. 

Do your research and make the best determination that you can with the information that you have.

I, like you, wish I had a crystal ball. Let me know if I can be of any assistance.

@Lashay James, the 70% rule is getting harder to meet with the rapid rate of appreciation real estate has seen in the last two years.

That is not to say that it is not possible. There are thousands of homes in LA county that you could get that follow the 70% rule.

It will take more work but if you are willing to put in the work, you can find them.

If you want to buy on-market properties or from wholesalers, you are likely going to have a hard time finding that.

Hope this helps! Let me know if I can be of any assistance.

Hi @Eric Grunfeld, these are all questions that you should ask a lender.

No one on this forum, myself included, can answer without having more information.

I will say that forecasting the debt service is easy for a lender to do since they can calculate the amortization schedule. However, they cannot determine that without more information from you.

Let me know if I can be of any assistance.