All Forum Posts by: Bradley Buxton

@Kalli Wilkens

Try house hacking in a city you like that has outdoorsy activities in landlord friendly states. When you move to another city rent out your primary residence. Investigates rents in the area and calculate if the rents will cover the mortgage when you leave. Ideally you can find a multi unit (2-4) to increase revenue.  Idaho is experiencing some price easing because of all the building. Nevada is a landlord friendly state with lots of outdoor opportunity. 

@Mimi Perez

The restrictive HOA will limit your future options and continue to be an expense. Unless there is a possibility the HOA rules will be amended soon. I'd sell and move into a SFH or MF that you will have more freedom. Look for the up and coming areas where the city is improving sidewalks new development etc.

@Nicolas Dupuis

It will depend on the lender and if there are leases in place they can usually use 75% of that income against your debit to income. I like to use local lenders because they will know the rental market and local agents will know the lender can get the financing done making your offer slightly stronger over using a national lender.  Get some referrals from your investor network or title companies. 

@Ivan Wudexi

Having a good rent estimator is really important because this is your revenue. Look at Zillow, Rent Cast and BP rent estimators. Don't out calculate yourself out of a good deal for a perfect deal. If you don't have enough capital then getting a second job, seller financing, or looking in other less expensive local areas can help with that deal. As others have said house hacking is the best way to get yourself in the REI game.

@Cody Miller

Have you considered renting out a room to help pay down the mortgage and bring in extra income? In a way you already have a rental? Can you add more rooms or an ADU and rent those too? With the extra income and or savings on your monthly payment you can save for another rental.

@Henrik Arnroed

Great focus and goals for investing!  Having that vision is a great first step.

@Ian Tyndall

What other amenities are other STRs in the area are missing?  You can check out reviews of others in the area. This will be having a value proposition that makes the experience that is better than expectations.  Games, game rooms, even meal prep items like air fryers can make a difference. 

@Wendy Vaidic

There are plenty of mountain towns around Nevada some are in less popular areas. Even Lake Tahoe, NV has properties under 600k that if you manage them correctly you will cash flow.  Also how much capital do you have to out into the property? If you buy all cash you will have a better cash flow position. 

@Vanessa Switzler

Out west Reno, NV is landlord friendly, tech and manufacturing job growth, 4th lowest property taxes, good weather, and geographically limited new construction. Happy to connect and share some data on the area. 

@Eileen L.

Generally it's right if you can grow you income or equity by moving into a different asset type. In the Reno, NV area there are single family portfolios that are out performing the multifamily.  There are pros and cons to each asset class and which one fits with your time and energy in the management. We work with out of state investors that are tired of the CA tenant laws or moving assets from the Midwest closer to CA for easier management. Will you be making more money with a MF? It could be as simple as I want to learn about MF and gain that experience and break even.