All Forum Posts by: Justin Beides

@Phil Sharp Hey man! Nice to meet you and welcome to BP! I'm fairly new here myself, but I'll help best as I can. There may be 100s of communities that can fit that 1% rule and that's the beauty of out-of-state investing! Options have the potential to be limitless. Technically you can make any property cash flow positive if you work the numbers right in a deal to make the deal profitable. It's just a matter of whether or not the seller would accept it and their needs and reasons for selling. Locations with minimal crime rate, good schools in the area, primary source of economic income(s) , the size of the house (# of bedrooms/bathrooms in the house) are all factors to consider in terms of getting tenants to stick around long-term. The best bet is to not look at the process in one grand scale as all the terminology, factors, running those numbers, etc. as to what makes an area ideal to invest in can be incredibly overwhelming if looked at as one giant beast. Just take things one day and step at a time based on the current challenge in front of you. For long-distance real estate investing, definitely check out David Greene's book "Long-Distance Real Estate Investing" which will definitely help you with what you're looking for to start and check out the bigger pockets podcast when commuting to work. Hope this information all helped out in some way! Best of luck brother. Any other questions just holler. I'll do my best to help.

@Samantha Fairbairn Welcome to the BP crew! Very nice to meet you. I'm pretty new here myself, but if you have any questions in regards to investing in rent and hold properties I'd be happy to help any way I can. 

@Lou Sussman Welcome to BiggerPockets man! Nice to meet you. I actually just started reading that myself. Great read so far. 

@Brandon Sturgill appreciate it for sure! And very nice to meet you btw. I sent you a message. Looking forward to talking with you on the subject!

Hey everyone! I'm fairly new to the BP community and it's awesome to meet you all! I'm learning the ins and outs of real estate investing and plan to acquire my first property within the next 2-3 months. To give a little background, my aim is to focus mainly on BRRRR investing using what I've heard in the podcasts referred to as the "Stack" method: starting with SFH and working my way to small MFH and eventually Commercial MFH. I just have a couple of questions if anyone would be able to help. 1.) What factors are there to consider when analyzing a market in terms of what states are hot to buy in and which states aren't at a given time? 2.) What is done to follow these trends in order to make the most educated decision possible to minimize risk and make the most informed deals possible? 3.) Are there any books anyone would recommend to look into in regards to this topic? I appreciate anyone taking the time to help and if there are any questions, etc. I can help with I will do my best to lend a helping hand if at all possible =)

@Jamie Briscoe Ahh I see. Cool stuff! Yeah, I've been doing a little more research on running the numbers and at least with the initial guestimations as to whether or not something is a good deal doesn't nearly feel as wild or overwhelming as it initially did. Just some nice plug and play. Figuring I use the numbers provided on those sites and then when deals get accepted go into more detail into the nitty gritty of those numbers and get more specific. Appreciate all the advice though for sure. Going to be awesome to take those steps to grow and reach our goals over these oncoming months/years. Looking forward to giving updates when my first deal comes in =D. Oh and also, you said "attempted" did the deal not go through?

@George BlowerThanks man! Nice to meet you as well. Happy to be here. What does a retirement accounts attorney do if you don't mind me asking?

@Christopher Lee also checked out that article. Very interesting stuff and looks like it's pretty important to keep that IRR in mind for sure.

@Christopher Lee Thanks man! Really appreciate the info. Will definitely keep all of these tips in mind. I won't rule out all housing involving HOAs as obviously there's always potential for good deals, but definitely will be extra cautious of them in terms of what rules certain states abide by in regards to them and how those terms can affect the deal.   

@Jamie Briscoe  Yes, I believe he is referring to cash on cash return on investment. Also, it's nice to meet you! Are you new here as well?

Hey everyone! Nice to meet you all by the way :). My name's Justin and I'm pretty new here, though I've heard great things about BiggerPockets and the community as a whole. I'm 26, and working to get the life I want to live happily, financially free, and to the standard I uphold myself to through Real Estate! Beyond excited to begin this new journey :D. I am currently working to do my due diligence to learn about and invest in my first property (ideally by early this coming new year) with a friend of mine. Based on current research, we plan to go into BRRRR investing starting with SFH with our first couple of deals and then to small MFH and large MFH down the road. That all being said, I'm taking everything one step at a time and focusing on the current obstacles at hand. I've been listening to the podcasts and in the process of reading some books from this website. In this process, I have run across some questions; specifically about running the numbers on a property. I recently worked to run the numbers on my first hypothetical SFH and just had these questions to start. Question 1: How do you determine if a property is in an HOA area to calculate such fees in your investment? Question 2: When running the numbers on analyzing a property with a BRRRR investment, do you do so in regards to the sales price that's listed, or the aimed price you are looking to purchase the property for? Question 3: As a newbie, I know it can be subjective to one's goals to a fault, but if a general percentage could be given, what's a good ROI to aim for when investing in your first property? I know Experience is priceless so I don't plan to be incredibly stingy or picky, but I also don't want to be hasty and make a bad deal. Appreciate any and all input anyone may have for me and again it's super nice to meet you all! Looking forward to getting to know more of you moving forward from here. =) *P.S. if this post is somewhere else as well, I apologize for posting this twice! The site said after I thought I posted this the first time and agreeing to the terms that 0 posts have been posted so I may have made an error in my initial submission, or there was a glitch.