All Forum Posts by: Account Closed

I read the OP to say annual holding costs were $12k without renting it out, which after re-reading obviously makes no sense at all. 🤐

Matt Mason I misread the OP. No more responding to posts when sleep-deprived! Ha thanks for clarifying.

You don't live in a cash flow marker, you live in an appreciation market. If you hold 20 years, based on your numbers it will cost you $240,009 to hold. Ask yourself - will the value go up more than $240,000 in the next 29 years? Can I afford to hold that long? I lived in SF and developed real estate there. I would guess your condo will be worth twice, maybe three times it's current value in 20 years - assuming global warming is still held at bay.

SoCal is an appreciation/cap gains market, not typically a cash flow market. You need to employ a different strategy in S CA.

Find brokers with seller listings

Zillow is worthless when it comes to rents or values.

Yes, a lot of experience with mixed use redevelopment. Feel free to shoot me a PM if interested.

@John Horner congratulations on your success.  it it very inspiring!  i'm really happy for you. 

two questions that I haven't seen asked here that may help newer investors (and myself too):

1. Seeing where we are in the market cycle, if you started today (as opposed to 2013) would you use the same strategy or would you do something different?  (i.e. what would you do as a newbie in late 2016 in this market?)

2. are all of your rentals single family homes or are any multifamily?

keep up the great work!

@Eli Sunderland 

Direct mail, online lead targeting, agents, lenders, other investors, neighbors, family, friends, random people in line at the grocery store, etc etc etc.

95% of this game is finding good deals.  And 95% of the way to do that is people.

Talk to everyone you can and always let people know you are looking to buy real estate.

- Can I ask how you find your deals?  Right now, I pretty much just scan zillow and realtor.com every day.  

This is not a good way to find deals.  You need to get MLS access to learn the market, then you need to be communicating with motivated sellers to find off market deals. You should also find a good investment agent to help you find a deal.  The stuff on zillow and realtor.com is garbage. You'll be looking for years for an actual "deal."