All Forum Posts by: Fred K.

@Marcus Auerbach

Interesting points.

Makes me wonder though, don’t prices have to level off, or correct at some point? I just saw a house the other day in SoCal that had appreciated 30% in a matter of 2 years. Seeing 20% in 2-3 years isn’t uncommon.

At this rate, we’ll see NYC housing prices in more and more markets. With 1300sqft 3bd townhomes coating over 500K in suburbs, I wonder if we are going to see a leveling off at some point or are these homes going to be closer to a million in a several years.

@Michael Belmore

Starting to see inventory increase in my market in SoCal suburbs. Price cuts are becoming more common.

I think a lot depends on how long this will last and how quickly people can return to work once things return to normal. Needless to say, the chances of a buyers market are increasing with every passing day.

@Hai Loc

I’m starting to see price cuts and a jump in inventory. How long this will last and how much of an impact it’ll have, who knows at this point. Too soon to tell.

@Emma Ross Curious to see how this is going now that you are 7 months in!

@Tim Herman Thanks Tim. I baked the cost of appliances and any maintenance to be done inside the unit into the “maintenance” fee (10% of property value annually).

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I hope it's okay to use a non-BP calculator for this post. The property is a condo located in a C class neighborhood in California, with some section 8 housing nearby. This property itself though would NOT be for section 8 rental. Would love to get your feedback on it!

Thanks,

Fred

Sorry, I meant analyZe :)

New investor in Southern California here. Looking at two different areas a couple hours away from me to venture into both the STR and LTR game.

I have reached out to two RE agents in separate counties to spark up a relationship with.

Both interactions started with me checking their reviews on Google first, then reaching out via email to introduce myself and give some details of what I am trying to do. First agent responded a day later, to which I responded back the same day asking some follow-up questions and to see some properties. CRICKETS. Called a week later, had a good conversation, and sent some properties I found on zillow to get his thoughts, then CRICKETS. He texted back a few days later saying he is busy. Then CRICKETS and he is not sending any properties my way. 

Second RE agent, no response to my email, so I called a couple days later and had a good conversation. Scheduled a second time to chat further, which he apparently forgot about and I ended up calling him. He said he would get back to me to crunch some numbers on some LTR properties, but nothing. 

Is this typical for RE agents? Am I supposed to be the one chasing them? Or have I just had two bad lucks despite reaching out to highly reviewed RE agents?

Long time lurker, first time poster!

Looking to buy my first property as a short term rental in a somewhat local market. As this is a hospitality business and has a time investment, I am considering doing this with a family member (sibling). Meaning a joint mortgage and both of us going in half/half. Generally speaking, I have mostly heard negative things about partnerships in businesses. We have a good relationship and I feel comfortable with the partnership and his financial posture and decision making ability. Are there any particular points I should consider before going into this partnership? Anything to make both of our lives easier?

Thanks in advance!