All Forum Posts by: Bradley Buxton

@Tim Tafel

It's important how you are following up rather than how often.  If your offers are so low then the agents are likely not taking you serious. In a competitive market like Reno, NV flips are rare and generally get multiple offers and are in contract in a week. So following up in 2 weeks would not be useful. Are offering the seller something they need besides price? Properties that have been on the market a while you might get more of a response and there is no set number of times to follow up. If the timing is right they'll take your offer.  It's how you are approaching the communication. Are you courteous and profession which is different than being nice.  There are so many listing agent personalities that each situation will be slightly different and you'll need to practice too get better. There are plenty of books and podcasts on negotiation and communication that will give some good tips. 

@Rhyna Orillaneda

There are some good options in CA and people still want to live there despite all the bad press. I'm a former CA resident now in Tahoe Reno Nevada. Nevada has many of the draws of CA and the added benefits of low property taxes that don't assess on sale, landlord friendly, no state income tax, and multiple tech and manufacturing jobs like Tesla, Apple, Google in the area. Tesla is in the middle of building the Semi truck manufacturing plant. Reno is also geographically restricted from over building forcing appreciation. While not the cheapest market in the USA there are all the signs of strong appreciation without the hassles of CA investing. There are also multiple strategies STR at Lake Tahoe, MTR and LTR that can be used. Happy to share more data and insights.

@Leon Gallego

Welcome to BP!  I'm just over the hill in Tahoe Reno, NV area.  Love Nevada City and the Grass Valley area.  Happy to be a resource. 

@Joseph McElmeel

All 3 markets have different pros and cons.  How long will you be living in each market?  Are there markets outside of those city centers that you can live?  What other dimensions of your life to you want to have and what you are willing to sacrifice for the next X number of months while you live there?  There are good investments to house hack in each of those locations. Austin has seen some decreases in rents as supply has surged, CA and WA have complicated landlord laws. CA has some really good weather.  Are there other family considerations to be in one city or another?

The 100k essentially becomes your down payment. Are the sellers requiring you to use your VA eligibility to assume the loan? Even though the rate is good is the property right for your investment strategy and portfolio to move you closer to your goal?

@Sras Sath

There are many ways to build wealth with real estate.  Right now with higher interest rates you'll have to get creative with financing, like rate buy down, seller finance, or assumable loans. Put more money down to get cash flow.  Buying in the right market for appreciation. Based on your time, energy and capital you have to deploy will dictate where and what strategies you can use.   Doing your research will be key and not over analyzing for ever, you'll never have all the information and it will always be a little bit of fear in buying. Taking action will be the most important step.  

@Shefali Golvelker 

There are differnt markets in CA like Fresno that might be interesting to explore because you likley need a market where you can put 40% down to cash flow and find a strong appreciation market.  There are pros and cons to every area and if you want to self manage you'll need to be within an hour or 2 until your properties are stabilized.  There are other markets that are near CA but out of state like Vegas or Reno, NV where you can buy a few properties and cash flow.  I have some resources in both those areas if you're looking out of CA. As will all RE investments there are a lot of depends on this or that and what your goal is for investing. 

To maximize vacancy could have less to do with beds and more to do with your target audience. IF that is your goal. Th number of beds will depend on the customer you want to stay at your place. STR that do the best have a target audience based on the the surrounding options that improve the vacation experience. In Lake Tahoe having more beds is better sometimes because the average daily rate is higher so more people generally want to split the cost. In Reno, NV having an experience at the house like a yoga room, fire pit, pool table, game room, kids play room might be more appealing. Even something simple like an InstaPot that makes it easier to make meals can improve the booking. Your market competition will give you an idea of the value experience you can bring to your guests.

@Reese Brown

Looking at one metric is like judging fitness by weight alone. Wealth is built through appreciation which doesn’t appear to be a factor in your calculation. Cash flow 12k per year or appreciation of 20k per year. What is better is based on your goals. ATX has seen rapid appreciation and strong population and industry growth. It also has seen a lot of building increasing supply. There are other time, energy, and capital to deploy as dimensions to consider where and what to invest in. 

@Ryan Holtz

There are markets you can cash flow.  There are also other ways to cash flow such as negotiate a rate buy down in a house hack, seller financing, or buy a less expensive home. You can also partner with someone and pool your money. Just like most strategies it depends on the cash you actually have and your cash flow goal. For example in Reno, NV our analytics show cash flow around 35% down for most 200-500k properties and the appreciation is very strong. It depends on the rents in the area. If you have 100k to put down you could buy a property in cash in a less expensive market.  There will be a balance between cash flow and appreciation.