All Forum Posts by: Bradley Buxton

@Sushree Mohanty

A bit closer to CA and a market that can give you appreciation and cash flow would be Reno Tahoe Nevada. There are some restrictions that can be navigated. Landlord friendly, low property taxes, no state income tax, and can be a day trip from CA. With any STR now you will need to have a unique twist on your property to create an experience. With 1M in capital there are multiple options that can cash flow and with the influx of tech and manufacturing jobs into Reno the equity will grow at an above average rate.

Why won't the property pass inspections?  It sounds like there are serious issues that the previous owners never wanted to fix or were too costly.  That could be a big headache later. 

Quote from @Chealsi Stocco:

I am just starting real estate investing. What are some states (and specific areas in those states) that are worthwhile to research and consider purchasing properties? What are some resources that you like to use to determine what areas to research and consider?

A very general question that will illicit many responses. I like to invest where I live or a state nearby where you live. That’s why I like Reno, NV. Looks for developing areas and where you can build wealth to meet your goals, energy, and capital.

I've used them for cash sales in less than 14 days, they get it done cleanly.  

@Keith Mintz

Most investors look for returns for at least break even and appreciation. Other factors are the up and coming area. You can look those up with the local planning department if there are major redevelopment projects from roads and sidewalks to building renovations. Near universities are generally good areas. Lots of factors to look at depending on the investors goals, strategi, and capital. In the Reno Tahoe area the multifamily properties are at all time low inventory and there are prices all over the place. This makes getting a DSCR loan more difficult because of the under market rents. There are still deals and we guide investors to look at the future of investing in Reno Tahoe and the strong appreciation. As a former CA resident the situation might be similar.

@Kenneth Germann

Try First Centennial Title. They have a knowledgeable team.  

www.firstcentennial.com

@George Suarez

The market has changed in the last 2 years because of the raise in interest rates.  There are also many more buyers in the market. Appreciation has slowed in the last couple of years. The cost of raw materials and contractors has also gone up.   There is still money to be made and you have to be more careful and strategic. What is your goal with investing? Decide where you want to end up at the end or your investment journey.  That will be your decision guide. There are markets that are better for cash flow and ones better for appreciation. Use caution when people say they get both. Check out David Meyers book Start with Strategy as a more updated text. Listen to the last 6 months of BP podcasts and find local people you can trust. 

@K Boyd

Have someone you trust inspect the house or write an offer with a walkthrough contingency in the first week. If the price is so great why has it not sold? Has it been under contract and fallen out? In Nevada there is a required sellers disclosure of any issues past or present with the house. Any issue that arise in an inspection would have to be disclosed to any potential new buyer.  Can your family inspect the house if they can talk to the neighbor?  Once you find out the issue are you willing to fix it?  

Quote from @Shola Sulaimon:

@Bradely Buxon, I'd like to connect with you.

Happy to connect. We have some a very professional STR managers and other local resources in the STR and MTR space in the Reno and Tahoe area. I'll send you a PM

@Bonnie Cerruti

Try neighborhood scout: https://www.neighborhoodscout.com/

Any data you look at donfirm the data is within the last year or 18 months and not more than 2. Everything was wack during covid.