All Forum Posts by: Eric Delcol

A poll I created yesterday might help you make your decision -

It shows what cities other members on BP are investing in:

https://www.biggerpockets.com/forums/311/topics/421479-poll-w-results-what-cities-are-investors-primarily-invested-in

Originally posted by @Tristan Wheelock:

 Looking to move up to St. Petersburg. I'm there a couple times a week to rock climb. 

Tristan, where in the heck in St Petersburg do you rock climb?  You must be talking about an indoor gym?

My approach with rent increases is always based on two criteria:

1)  Are the rents currently below the average rental comps?

2)  Will the increase in yearly rent revenue offsets one month of rent?  eg. if rent is $1,000 the increase must be $84 or more.

If both questions are a yes then the rent increases to no more than the above average rental comps.

This takes the emotion out of the decision making and is more than fair to both parties.

@Antione D.

It's good to see you thinking 'outside the box'.  

You may want to try those types of strategies once you have some experience first however.

Imagine a football coach and it's his first season with the team and he decides to start the home opener with an on-side kick.

Check out some of the beginner guides here on BP:  https://www.biggerpockets.com/real-estate-investing

@Stephen Wood

The Phoenix market is very hot.  As a result, trying to find properties that cashflow are extremely difficult.  The MF's you'll find will be older but can cashflow if you have rock solid management.  Outside Phoenix proper - in Mesa, you will find more of what you're looking for.

Hi All!

There are plenty of reports on census data, business blog articles, and top 10 rankings showing which cities people are moving to and which ones are growing the fastest.  

One thing that isn't out there is a survey showing which cities INVESTORS are investing in.

I thought I'd create a short survey of the top 50 metros in the US (and one option for 'other') to show where BP members are investing.

You can vote and see the results here:  https://goo.gl/ojbHZn

Thanks for participating!

@Martin Ma

PM me and I'll put you in touch with our agent who specializes with investors.

Hey Yuse, That strategy is great for condos. Pre-construction is a good option but factor in the amount of time it'll take to build as part of the opportunity cost. Smaller buildings under 12 stories will have less delays but for any building add 12 months to whatever the builder says is the completion date. Alternatively, older houses in Hamilton may be a good way for you to add value to a property and thus increasing the equity. There's only so much you can add to a house in Milton that was built 5 years ago.

@Yuse Segura

It depends on your strategy.  Are you looking for buy and hold or flips?  Are you more focused on cashflow or appreciation? Who is your target market?

Determine those first and you will get more accurate information for what you're trying to achieve.

@Yan Linwood  welcome!

"However, I do feel very strongly that buying this first home will help me learn about the business much more than books and podcasts ever will."

That you are most likely right.  You can read all the books in the world but nothing is more educational than experience.