All Forum Posts by: Account Closed

You cannot go wrong with accounting.  It's worked out for me and it's not as boring as everybody thinks it is.  If not accounting, really anything in business would transfer to RE.  Good luck!

Welcome to BP!

I ran into the same thing, but I think when you do your homework and lay out everything to your spouse and all the benefits (with the cons), it becomes clear the benefits far exceed the cons.  

Make a sheet and list all the pros on one side and then the opposite on the other and I find it works 99% of the time to make a better decision.

Josh

Hey all,

Thank you all for your insight.  I have enjoyed reading your responses.  Truth is, given the current real estate climate, I think we are all looking for answers on the market and what we can do to get ahead of it to better ourselves (hence why we are all here).  I'm glad BP doesn't charge for their service.  To do so would go against what they stand for.  One of the things that makes BP such an awesome place are the members willing to help one another and that is something that I took away from reading your responses.  

Another confession to make, I recently moved from a great real estate investing market, to a very saturated RE market.  It has been nothing short of frustrating in this market as I have stated.  It is clear me that charging for BPs service won't help me or anyone else for that matter, and I need to hustle harder to compensate for increased competition.

Regards,

Josh

Hello all,

I wanted to pose the question to you all.  Is Bigger Pockets actually making it harder for new investors to get started in real estate?

To be honest, lately, I've been having this thought.  Please allow me to explain.  As an avid Bigger Pockets follower for about 5 years now, I have had to privilege of watching the company grow and develop (can i empathize grow!) over these years.  There are now thousands and soon to be millions of real estate investors and "want to be's" part of Bigger Pockets which has contributed to the wealth of knowledge on here; something any real estate investor can cherish.  I've also realized though the market has only become tighter as well during this development of BP.  Is this because BP has made it so easy to become a real estate investor by providing answers to virtually everything a real estate investor could possibly need to know?  They also inspire many to become real estate investors.  

Recently, I've made offers on several properties only to be out bid by one of 10, 20, even 30 other offers.  It seems like everyone wants to be a real estate investor!  BP and it's wealth of knowledge have made it so easy to access this knowledge at the tip of our fingertips and the markets are showing this overabundance of investors and it sucks!

Look.. I love BP.  I get hours to enjoyment reading the forums, listening to podcasts, reading their books, etc.  At some point though I believe they need to charge to access to this wealth of knowledge.  Even if it was $10, $20 a month, I think it would help cool the market enough to help those who are passionate about being involved in real investing.  

Your thoughts?

Josh

Thanks for the info!

I looked a property today in Sandy, UT that is zoned as a single family residence, but I am told it is used as a duplex.  What problems would this pose (I know this is a zoning issue) and how would someone go about fixing this?  Can it still be used as a duplex if I were to purchase it?

Thanks in advance.

Josh

Okay thanks for the info!

@Immanuel Sibero

You bring up a great point in that comparability is key and it would only matter when looking at multiple properties in any given market. Do you happen to know if sites like loopnet.com which often list cap rates with a property would include replacement reserves in NOI? Or would it just depend.

Josh

I was wondering if anyone factors Replacement Reserves (i.e. potential future CAPEX repairs) into their CAP Rates when doing a property analysis? As many of you know a CAP rate is Net Operating income (NOI) / Purchase Price. I've noticed some people include Replacement Reserves below NOI when calculating cash flow and some put it above the line. This creates some variation in the CAP rate. The same could be said about property management. This article helps explain the variation, but what is the correct way?

http://www.ccim.com/cire-magazine/articles/323788/...

Thanks,

Josh