All Forum Posts by: Austin Largusa

Hi Miranda and Austin,

I am a realtor with Keller Williams here in Clarksville too. It is nice to meet you both here on BP. 

I am also an investor here and while I was planning to do more BRRRR deals, I have wound up doing more flips than anything else. I would be very interested to hear how your experiences go.

@Austin Largusa

Thanks for replying. Fayetteville is a great area especially being located right next to a Military installation. it makes for a great market in rental properties and there consistent deal being made considering it is such a high traffic area. I lived there for two years and currently have one rental property out there. I would be happy to talk with you concerning any questions you might have.

1 rental per kid. That's my goal and i'm behind.  I have 50K at my disposal.  I live in Nor Cal but California seems utterly hopeless for my price range and cash flow ambitions.  Texas or Ohio seem promising.  Ideal find would be a duplex for 80K that rents out 800 per side.  Timing is another concern.  2020 has been a train wreck and i have heard of an increase in tenants not paying rent.  Interest rates are amazing but its not as amazing for investor loans.  With the second wave of Corona panic/shutdown this fall combined with the election season I feel utterly bamboozled as to if I should pull the trigger on something.  Any tips or advice from fellow investors would be greatly appreciated.

 Just remember, realtors are here to sell you stuff... they don't care if you get a good deal or what happens to you 5 seconds after the close.  I wish you the best of luck - I hope our advice did not scare you off from sharing your experiences good or bad.

If you have experience in the Cleveland area I would stay there - Detroit is a different animal.  Your budget is small and you are almost certain to lose it quickly in this market.  These comments are not here to disparage you, this is the cold hard truth.

There is nothing difficult about the Bay Area market just like there’s nothing easy about the Detroit market. I know because I lived in the bay from 2001 to 2017.

My point is, there’s very little value in advice on the Bay Area market. There’s massive value in knowledgeable advice about the Detroit market. That knowledge doesn’t come easy; you can’t acquire it reading stuff online. 

I’m telling you what most folks won’t. And most folks react like you are, complaining that I’m not helpful or BP must not be helpful anymore. That’s not a productive way to view it but most folks aren’t productive. 

Throw your hands up all you want.

 

Nobody in the know will answer this question for you.

That's the hard truth.

You'll get plenty of vague, largely incorrect advice from people that like to sound intelligent but have little to no experience.

I get you want this to be easy. I wanted the same thing when I started investigating Detroit. The most educated people I knew wouldn't help me. They didn't say that, they just didn't. And I get it, there's no way I, or anyone else, can tell what's right for you. Detroit is a vast city with housing stock that runs the gamut. 

So how'd I solve it? Busted my butt driving streets, walking neighborhoods, and buying 8 houses in 12 months, initially with a "spray and pray" method until I LEARNED which areas I liked and suited me.

There isn't a shortcut.