All Forum Posts by: Beau Garrett

All thank you for the advice!

@Jason Shackleton I like your points about the longer term advantages. Since I'm not looking to generate cash right now the idea to leverage against equity in the future makes sense to me, along with the tax advantage strategy of the 1031 exchange (hopefully that doesn't go away anytime soon). 

@Account Closed - indeed! I took the plunge last year, did a ton of research on the market and found a project I really liked. Fundamentals were very strong, and price was way undervalued, significantly lower that its all time high. Since the market tends to follow Bitcoin, the project I invested in has gone on a similar run. Thank you for the kudos!

@Dmitriy Fomichenko thank you!

Recently I've been fortunate to realize some significant gains in crypto currency. My strategy has always been to move gains from these more speculative assets into real estate once I hit certain targets. After debt paydown, taxes, giving, etc. I'll net about $400k to use toward real estate. I've been researching multiple strategies and have had a single family rental in the past. That said, I'm considering multi-family properties between 10 and 30 units to get started. My ultimate goals align with wealth generation over time as opposed to quicker cash with fix and flips.

I'm open to building any portfolio (single family, multi family) that align with my long term goals but want to become more aware of the opportunities that may exist starting with this amount. Looking for any insight from the BP community...

My wife and I have been in our home for two years and will be selling in a year or so to move into another nearby home with an extra bedroom for the kiddos. We live in a desirable area south of Nashville and property values have been on a healthy rise. We were considering making updates to the master bathroom that still has the original layout from 40 years ago when the home was first built (its TINY! with a capital T). However, we are concerned that we may not make our money back if we do the renovations, and now especially with the ongoing pandemic. Just don't know if our price per square foot will increase enough to justify the expense. What is unclear to us, is how much of a premium master bath renovations typically command when selling? Looking for any guidance, resources, etc. that anyone can share. Many thanks!

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*This link comes directly from our calculators, based on information input by the member who posted.

@Jayden Medhurst Thanks so much for the input. Interesting to learn about the previous comp. Any yes, I think you are right about the rent. I originally used the Rentometer tool to find the range. $1800 is near the higher side of the "Acceptable Range". Good to know rentals are closer to $1400 to $1500 in that area. Also, thanks for the input about repairs. If it is a newer renovation, would you still put repairs and capex at 15% combined? All very helpful feedback. Thanks again!

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*This link comes directly from our calculators, based on information input by the member who posted.

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*This link comes directly from our calculators, based on information input by the member who posted.