All Forum Posts by: Shawn Regnier

@Jordan Lockaby It's been five years since @John Hughes post, and his only two posts were on this thread. I'm going to go out on a limb, and predict that he doesn't respond. :)

@Danny Kaminsky I agree with the above comments, if you trust her, that’s what’s most important.

In a dual agent deal:

Buyer (you) - benefits from the off market deal that you may not have to compete for.

Agent - gets both ends of the commission, they’re happy

Seller - only gets one offer from one buyer, if everything goes as planned for you and your agent. Personally, I think it sucks for a seller, generally. Agents love that double whammy, though.

May the seller wants the no hassle of a quick offer, who knows.

Regardless, you’re in a good position, as long as there are no hidden surprises with problems in the house.

@Dan Heuschele I read all the same posts about appraisers giving low values currently to ADU's. Just because appraisers give those ADU's lower value, doesn't mean the sellers are lowering their prices for their homes, though. I also suggested a garage conversion ADU, instead of a newly built stand alone. The garage conversion is much less to do, cost wise.

If he can find a nice "value add" home in a decent part of LA County that already has a permitted ADU, then I agree, go for it. Unfortunately, homes with ADU's, in a decent area, in his price range, aren't sitting here in bulk.

@Pablo Miguel Hernandez congrats on the move, although I’m not sure why you’re moving here (I live here, and Nashville sounds much better right now). 😁

I agree with Lee, I wouldn’t buy an apartment building here, prices are way too jacked up for a duplex, triplex, quad, for you to have your rent paid for by your tenants, and you’ve got tons of competition to compete with.

You're much better off buying a SFR, and converting a garage to an ADU for rent. If you're buying here, it's all about the appreciation game anyway, which is "roughly" 5% a year.

You’ll want to really do your home work on the area. One moment you’re in a highly desirable part of LA with great schools, two minutes later you’re in a part of town that’s significantly less desirable.

Good luck on your move.

@Account ClosedWell, you've had several people in the industry tell you that your time and money would be better spent elsewhere, and not to get a license.

Your responses to each reply seems to indicate you have already decided it is worth your time. So just go for it, and see how it plays out. 

@Mitchell W. Absolute waste of time and money, if you don’t plan on using your license for more than just your own home purchase.

Agree with @Tyler Gibson, the fees add up, in a big way. If you're ready to grind it out, and work on your sphere, sure. If you're just looking for an edge in finding properties, I wouldn't bother. Create relations with other investors and professionals in the industry, instead. 

@Jared Garrison Even though you’re in a colder area come winter, LVP is still the way to go imo.

Hi @Lawrence Ajao, welcome to the forums.

The first thing that caught my eye is "10 yr development is potentially being built." There's nothing etched in stone there, at least.

You said after a re-fi, you'll still be under water $700/month.

1) are you sure about those numbers?

2) can you spruce up the place and get a higher rent?

3) I'm not sure about Chicago Airbnb laws, but is that an option for you?

Personally, I wouldn't want the $30-40k hit, and would explore every option to keep my condo. You get great tax benefits holding the property as an investment, and can wait for the market to bounce back in your area.

Good luck with what you decide.

Welcome @Brannon Marsh to the BP forums. Sounds like you're off to a great start, with the perfect first book. I would recommend perusing through posts on these boards for plenty of great advice for new investors, there are tons of posts to choose from, and have many great replies from savvy investors and real estate professionals.

If you haven't started listening to the BP podcast yet, I highly recommend it. Just start with the latest episode, and work your way back. They are very easy listens, and are very new investor friendly (as well as experienced investors).

There are many ways to invest in real estate, and finding what suits you best will come in time, with research. Good luck on your journey!