All Forum Posts by: Bradley Buxton

@Tove Fox

I can share data and analytics with you in the northern Nevada market. You can let the data decide if it's the right market for you. 

@William Nast

Check out the BP podcast. The have interviews, tips, and tricks to getting started. The @Dave Meyer book Start with Strategy will also be a good resource. Going to networking events is a great place to meet people. You'll never get the confidence to invest from another person or guru. There are many books published by BP as well. Look for books published in the last 2 years as some of the books post 2010 seem to give people unrealistic expectations.

@Rachelle Bertumen

I live in the Lake Tahoe basin and there are still good opportunities in the area. There good ways to navigate the market between the 5 counties, 2 states and many different HOA regulations. There are areas outside the Tahoe basin with a short drive that can provide for solid short term or long term income streams and still pull in the Tahoe goers. The tech industry and manufacturing growth in Reno also provides for a different client for short term rentals, something to look into. Let me know if you want to get connected with data and resources in the area.

@Sathya Priya Sampathkumar

Look for markets that can fit into your lifestyle and your goals. Can you travel there easily? If you need to go there in a day can you? If you want something for long term generational wealth that might be a more expensive equity growth market. Most cities have areas with lower crime and better schools. What market works for your life? 

@Amos Lee 

There are advantages to investing in an area you already know. You likely have connections and can get references. You can also check on the properties more often. NV is a landlord friendly state with no state income tax and the 4th lowest property taxes in the US. Unless there is some huge upside to investing in OH staying in NV seems to make the most sense. 

Welcome to BP Yanick. Many good resources here and forum post for new investors. 

@Breeya Johnson

When evaluating markets for real estate investment, there are several crucial factors to consider. First, look for markets with diversified job growth and growing populations. These factors contribute to a stable and expanding economy, which can drive demand for housing. Is there a promise of some new chip plant? Will that get built and how long will they stay?

Inventory situation is another key element. Limited inventory typically drives up prices for both rent and equity, as high demand meets low supply. Conversely, if new houses are being built frequently, older properties may struggle to maintain their value.

Property taxes also play a significant role. Higher property taxes can eat into your profits, so it's essential to factor this into your calculations.

It's worth asking yourself if you'd want to live in the markets you're considering. Expensive markets are often desirable because many people want to live there, driving up demand and prices.

Reno, NV, for instance, is a market that benefits from diversified employment sectors, including tech manufacturing, hospitality, and recreation. It has limited new construction, low property taxes, and no state income tax. While it's more expensive than Ohio, it's still cheaper compared to California.

Additionally, consider the practicality of traveling to your investment market. Being able to visit properties, oversee rehab projects, and manage your team is crucial for successful investment.

Ultimately, there's much to consider beyond the initial purchase and rehab. Making a well-rounded decision can lead to long-term success in real estate investment.

@Kyle Carter

Ask about their communication style, does it fit with yours?  Do they have the technology to do video walkthroughs? Will each team member fit with the other team members? Does the PM get along with the contractors, handyman and agent? 

@Paloma Wodehouse

Finding a flip that will be easier and less profitable is one way to start.  This will reduce your risk and cash invested and if something goes wrong you wont be bled dry with never ending repairs. The bay area has many old houses so be aware of what it will take to being them up to code and meet insurance requirements. This usually means all updated electrical, plumbing, and roofing. Depending on the country there also might be fire risk mitigations. A good local agent should be able to help with some of those updates needed for the exit sale. 

@Paul Whitney

I'm a former SLO resident myself, moved up to Reno Tahoe Nevada. There will be multiple markets that you can invest. The 1% rule you speak of is a great goal. This will limit your choices to the lower cost markets mostly in the midwest and south. Consider the other factors or out of state management, travel, time, and lifestyle. This could eat up that 2k cash flow quite quickly. A market that has a balance of cashflow and equity and something closer to CA like AZ, NV or maybe even a less expensive CA market like Fresno. Let your goals drive you to the best market.