All Forum Posts by: Denver McClure

Hey @Jeremiah Richard Atwell, welcome to BP! Set for life by Scott Trench is fantastic, and obviously Rich Dad Poor Dad is the most common book out there that sparks interest in real estate. Feel free to reach out if you ever need advice, more than happy to help.

Hey @Jennifer Green, feel free to PM me if you'd like to chat sometime. I transitioned a few of my STRs to MTRs over the last few years and it was a wise decision. Happy to help.

@Jeff Nash is a RE focused CPA, and has worked with dozens of BP members. 

Hey @Vanesca Charles, property tax is slightly higher in Texas, but it's not a problem if you factor it into your analysis before you buy the property. I would also recommend hiring a company to protest your taxes each year. That will help ensure you aren't overpaying on taxes. I own 8 rentals in Texas and have been using protest services for quite a long time without issues.

@Fernando Mesa is the person you should talk too!

Depends on many factors. Do you plan to live in LA for the foreseeable future? If so, go with the FHA househack (I've also done this) and start offsetting your living expenses. You need to evaluate that property as a full rental to analyze how it will perform once you move out. If the numbers don't work, don't do the deal.

Out of state should provide better cash flow, but slightly less depreciation vs LA, unless you pick a booming market. Chances are you'll need to have 20-30% down payment ready to go if you don't intend to live in it. You can always save your FHA for the next deal. Feel free to PM if you want to bounce ideas around.

@Matt Solis might be the right person to chat with!

@Jeff Nash and @Stanley J Black can help

Hey @Ryan Berg, feel free to reach out if you'd like to chat. Most likely you'll need to identify a STR that you can ad value to. Look for deals that have an ADU, or the possibility of adding an ADU. Can tear down walls to add more bedrooms, can you offer a unique perk/benefit that no other STRs in that area offer? Depends on your strategy, but many investors are also targeting STRs that are smaller (2/2, 2/1, 1/1) so they can pivot to the MTR strategy if needed.

Welcome @Kenzo Lackey, reach out if you need anything.