All Forum Posts by: Account Closed

Will the BP community ever admit it? is the real question

This is BP. If the interest rates were 50% and the end of the world were next week, BP'rs would still say they are buying.

Quote from @Eduardo Bilbao:

Absolutely, yes.Market is high right now but the FED and other national banks have printed a an absurd amount of money and inflation is likely to continue. If they increase interest rates too much to try to control it they will cause stagflation which for that reason I think they wont. At the same time due to really cheap money hedge funds are getting into the real estate game because they know they can get amazing returns and the demand for housing will continue to increase and I believe that supply wont catch up to demand any time soon. 

As long as you buy right and hold for the long term you will be fine. I personally had to over bid on a property a few months ago and now that property has given me cashflow and it is now to the market value I payed for. 

Good luck to everyone!!

So long as you buy and hold in the right area. I can say the same thing regarding the stock market.

Quote from @Ab John:

Quote from @David Garner:

Yes... I'm buying off market at a discount amd adding value. There are always motivated sellers and value add opportunities regardless of the markedly cycle. I'm usually all in for less than 65% of ARV, so I'm good with prices falling or rising to an extent.

 how do you find them?

That's not the million dollar question, that's the billion dollar question. Dedicated, full time Real Estate professionals have channels and pipelines that part time Real Estate investors do not. Just talked to one guy a couple weeks ago and he is now mainly turned to having his team calling lists 10 hours a day. Not a thing I can replicate, myself.

This gets left out on BP while they are selling people pro memberships with basic calculators anyone who understands the financials and has Excel can do for themselves. Analysis is easy, finding a legit good deal for a non connected professional (and by legit I mean with underwriting that excludes the vast majority of "base hit" garbage deals average part time investors buy) is as hard as hell.

Originally posted by @Greg Scott:

Yes, I will always buy a good deal.  In these times, I'm just more conservative in my underwriting.

 Feel the exact same, and have for years. Problem is finding a "good deal". 99% of Real Estate investing is finding a "good deal". Been a damn near impossible task for years now unless I redefine what a "good deal" means. For connected professionals, might be a different story. 

You should ask if anyone who is strictly turnkey is anywhere near cashflowing enough to quit their W-2 jobs anytime soon. You'll probably get a more useful answer. 

Bernie Madoff may have had the "skill" you are asking about. 

That's just flat out, not realistic. I suppose if I were looking to take your money though, I'd tell you it is.

...um, if you don't know how to analyze the financials, then how do you know your current STR is doing well? You might not even be budgeting correctly for long term CAPEX. 

What comes after Real Estate is freedom and generational wealth, if you did it right.

At that point, some people might need to learn to hacksaw off the golden handcuffs of the grinder mentality that got them there.

That, or you can spend the rest of your life grinding till the end and miss the whole purpose of achieving financial freedom in the first place. 

Doesn't need to be a dream property.

Quality location, first off. Not compromising on this. Talking about good areas in primary markets. 

..and at a price point that let's it cash flow in the first year, at 20-30% down.

Once upon a time, that was realistic. Now a days, only in your dreams, unless you have access to some kind of an off market miracle/unicorn.