All Forum Posts by: Ethan Hanes

I’m seriously looking at investing in Short Term Rentals, specifically Airbnb’s. The idea fascinates me and I definitely want to own 3+ in the future. The freedom to visit the property and vacation at the area, while renting it out when you’re home is amazing.

In your opinion, do you think that investing in airbnb’s/short term rentals is smart?

I’ve heard from a couple separate people that short term rentals are going to go out of business. Is this true?

A couple years ago, I visited Kiawah Island in South Carolina. I fell in love with the scenic beauty, quietness, island feels, beautiful shopping centers, nature/wildlife, etc. Does anyone here own investment property near the ocean in South Carolina? If so, what has been your experience with the investment? Would you recommend it? 

Ethan

Quote from @Paul Merriwether:

@Ethan Hanes Extra cash??? That's true of any investment. I nice property in SAC sold for $330k.

3b, 2bth hat was renting Sec 8 with a large lot that could be split and sold off.

It could have been purchased with only approx 25% $82,500. Not bad for CA. The lot after being split could

have been sold for $90,000. 

By “extra cash” I meant that it’s mainly for people who just have extra cash lying around and don’t rely on real estate investment as their main source of income. For a lot of people, it’s a place to put money for the future.

Quote from @Kit Elliott:

Quote from @Bruce Woodruff:

@Kit Elliott Not trying to be funny here, but seriously, for LOT of investors I know, their investment strategy is to leave California and take their dollars elsewhere.....

For those who are investing in CA, I wonder who they are? Becasue I see a a lot of flips going on around here. Maybe big institutional investors who can afford to not make money the first several years?

 Yup. This is exactly right. People who invest in CA are people who have extra cash lying around and want to own real estate. 

Quote from @Kit Elliott:

Quote from @Ethan Hanes:

Kit, it is very very common to do STR's in the Bay area especially.

California is an appreciation hotspot. People who invest here wait many years before selling. 

I work primarily with multifamily properties in the San Fernando Valley. I’m not entirely sure what the Bay Area looks like, but I do know that there are thousands upon thousands of multifamily properties in the San Fernando Valley. 

Perhaps if you are looking for a long term investment that is 99% passive, look at buying a 4+ unit property! They are fantastic for those who are looking to own real estate. 

 I agree about MF properties. I am working on a deal right now that's a house hack. A nice fourplex. Hopefully, I'll have in by Jan/Feb 2023.

 Oh that’s awesome! It’s so hard to find good deals on fourplexes. Wish you the best in this transaction! I do transactions of 5+ units, so if you are ever thinking of exchanging, message me! I can help ya out.

Kit, it is very very common to do STR's in the Bay area especially.

California is an appreciation hotspot. People who invest here wait many years before selling. 

I work primarily with multifamily properties in the San Fernando Valley. I’m not entirely sure what the Bay Area looks like, but I do know that there are thousands upon thousands of multifamily properties in the San Fernando Valley. 

Perhaps if you are looking for a long term investment that is 99% passive, look at buying a 4+ unit property! They are fantastic for those who are looking to own real estate. 

Quote from @Aj Parikh:

Definitely investing the money in education or joining some mastermind groups. Joining a mastermind group will help you even find like minded investors that you can partner with and potentially take down a duplex in a midwest market. Good luck and feel free to connect! 

 For sure! Thanks Aj.

Quote from @Paul De Luca:

@Ethan Hanes

Where are you going to buy a duplex or SFH with that you can afford with $10k? Even in Chicagoland as a house hacker $10k won't really get you anywhere when you consider downpayment, closing cost, and reserves.

I think you should take that $10k and invest it in your education, specifically related to real estate investing and learning skills that will allow you to earn more money.

 This is a good point! Thank you!

Hey all, good morning happy Wednesday haha.

I’m a beginner in real estate and I want to get started on my investing journey. What are some of the best things to do with $10,000 cash? I’ve thought about purchasing a duplex and living in one unit, or buying a 3 bedroom house and renting out the bedrooms to friends/tenants. Are these smart first steps to take? Can you even do that with $10,000? 

If you were a newbie and someone gave you $10,000 cash right now, what would you do with it?

Ethan Hanes

Quote from @David P.:

Quote from @Nancy P.:

I just want to address your OP where you said  his threatening to not pay rent "did not sit right".  Please let that go.  Men who feel their tiny daughters are in danger say whatever it takes to make him feel his child is safe again.   I'm shocked at the eviction laws currently in place.  I'd at least call Animal Control.  Maybe they can get rid of the dog where you can't, or cite them for not monitoring the dog well.  

 So worst possible outcome happened today. While putting on the lock the dogs attacked me and I had to go-to ER. Pretty gruesome. At this point I'm lost for words. They assured me the dogs are gone and won't be there anymore. 

 What!!! This is awful!

Be glad this happened to you instead of the child! Could have had a different outcome. So sorry this happened to you, it shouldn’t happen to anyone. You never know if a dog is friendly or vicious. So sad. 

Hope you were able to get this resolved. Ugh!

Ethan