All Forum Posts by: Account Closed

@Ryan Ebzery, that's great to hear. I hope you find a great house hack working with them.

@Kana Watanabe, it can be overwhelming at first to try to find that "best" OOS market, but in reality, as you say, markets are unique. Instead of thinking that there is a "best" one, maybe a good strategy is to come up with some key criteria that you'd like to see in a market and then get a short list. Basically, don't spend so much time thinking that there is a perfect market that you don't get started. Here are a few good articles to get you thinking about good criteria:

@Brian Ellwood wrote The 6 Pillars of a Great Rental Market and @todddexheimer wrote Finding Emerging Markets

@Ryan Ebzery, like Jimmy mentions, having a good quick formula seems useful. You could also really try to break it down using something like described in previous BiggerPockets article which really tries to look at the cost and lifespan of replacement of major items: How to Estimate Future CapEx Expenses on a Rental Property. Partly, I think it also depends on how much you have in reserves already and how scary a significant repair would be.

As for house hacking: I am sure there people successfully house hacking even in the Bay Area. @David Greene was just talking about how to look for properties that could work for house hacking on a recent webinar. He operates in that area. Maybe you should check him out: The David Greene team

@Chris Barnett, have you considered putting together a brief presentation to give to family or contacts who may have money to invest. Assuming your #'s work and you would treat them fairly as investors, they might be interested in putting up money. Otherwise, you could tap into your network to see about a hard money loan.

@Dan V., that makes sense. I'd guess there are still properties that get to the MLS where the #'s can work, but as you mention, they are rare and often purchased quickly. Thanks for sharing.

Thanks for sharing the full deal @Keith Shadle. I hope to execute my first successful BRRRR here soon. Good for you for sticking through that lending process. Sounds trying.

Yeah, of course. Try the podcasts on BiggerPockets which are really motivating. Pay attention to some of the book recommendations to start reading and jot down terms you don't know to look up and start to learn. You will be impressed with your learning curve if you do that.

@Dan V., thanks for sharing your success story. I hope to pull together a flip in my near future. How long had you been looking at MLS listings before you found one that could work with for #'s?

@Ricardo Carrolo, read a ton and listen to podcasts. Just that will give you the foundation and you'll see quick initial growth in your understanding.

@Jeremy Toney, to find a good lender, you might first find a realtor you are comfortable with and then ask for recommendations. Realtors tend to have referrals for several people you might want such as lending, insurance, PM, and sometimes contractors. If you plan to invest near Hickory, you might also contact some of the local credit unions/institutions to start to form a connection.