All Forum Posts by: Account Closed
Account Closed has started 1 posts and replied 214 times.
Post: How can I convince my partner to get real estate
- Posts 217
- Votes 190
Want to convince her? show her a viable business plan. Show her on paper the deal you are proposing, how it will profit based off more than just "future appreciation", and do this with conservative underwriting. You might be surprised how money oriented she can be if you show her an actual, viable path with dollars and a timeline. A book or podcast without a viable, well-vetted deal is no legitimate substitute.
If you can't do that, then she might be right. Probably save you potential serious financial grief as well.
Post: Market craziness pricing me out of new primary residence
- Posts 217
- Votes 190
Post: 2022 Bootcamps are open for enrollment!
- Posts 217
- Votes 190
Is your bootcamp going to put a cashflowing deal in their lap, or just teach them theory they can get for free if they make some effort to search.
Post: What beats apartment syndication returns for passive income?
- Posts 217
- Votes 190
What you are missing is that if your return and preservation assumptions were dependable, none of the rest of us would waste our time/ effort with much else.
It ain't gonna be any where near that easy, sorry.
Post: Buying properties is no easy...
- Posts 217
- Votes 190
Originally posted by @Joe S.:
Originally posted by @Dan Wynn:
Buying properties is no easy task because the monthly amortization can be heavy on the pockets. And when word gets around that a particular friend bought properties, it is considered a financial success and a life upgrade. The ownership of the properties brings with it an unmatched sense of security. Regardless of the recent crisis, real estate is still a good, long-term investment.
At certain juncture in many investors career buying properties become much easier. Getting them fixed in a cost effective manner is the stick in the spokes.
"Getting them fixed in a cost effective manner is the stick in the spokes." and without that part, properties aren't such a hot investment, and can be a down right bath for some.
Post: Scummy realtor behavior in hot market
- Posts 217
- Votes 190
"Hot Market" not even required for scummy Realtor behavior, all too often.
As an investor and a buyer, you need to realize very few of them are aligned with your interests, and all will tell you they are.
Post: Does cap rate matter??
- Posts 217
- Votes 190
People telling you Cap Rate doesn't matter or is irrelevant...
Ya, maybe boxing yourself in adhering to some dogmatic, artificial Cap hurdle you set while comparing properties- especially properties that aren't even commercial- isn't going to be that helpful.
Being mindful of NOI vs your costs sure as hell is though
Post: Purchasing an investment property
- Posts 217
- Votes 190
Full cost, but lets face the reality in these markets- seller/sellers agent is likely to just move on to the next bidder who will be happy to overpay and not ask questions while bidding.
Post: Brrrr Coastal Southern California
- Posts 217
- Votes 190
Originally posted by @Bill B.:
They’re also getting $14k in rent? $1500 for 650sf and $2500 for 1000sf apartment (both seem high) and $10,000/mo for a house that cost less than $300k to build? (Assuming we’ll over $100k for tear down, permits, landscaping, and building the adu.
Building in California for $75/sf? Pretty sure you could charge $150/sf, maybe $250/sf and have people beating down your door. Probably time to become a full time builder. Sweet gig if you can get it.
Reading this again I'm thinking 700k was the purchase price, 400k was her equity, and she hasn't disclosed the teardown/build costs which are just no way in hell gonna be 75/sqft.
Those rents are sick, but totally doable if she's truly costal in So Cal. There's 35k/mo 4 bedroom houses for rent in places like La Jolla.
Originally posted by @Anthony Stevens:
@Account Closed
Great information. I am in the same situation where I'm saving money. My initial thoughts were to simply leave it in my bank being I will be using it for a property, but it makes sense to continue to have the money work for you while saving as well. Good thing I read this!!!
Mainly needs to to liquid, safe, and not fluctuating around in value so when the time comes, it's dependable and accessible.