All Forum Posts by: Matt R.

They have not built houses in mass in decades in Calif it seems. Probably a million or two could bail and still have little impact for most if not all sfr CA locations.

1 Vote

Originally posted by @Ross Bowman:

I love Bitcoin. I also love investing in real estate.

Would some type of Bitcoin Q&A be good for the investor community on here? I think we're too often "real estate vs X". In reality, all different types of investments are good.

There is a ton of misinformation about Bitcoin here, both on the forum and published in the biggerpockets blog itself. There's also a lot of hostility and dismissive attitudes about it; just like there was about the internet when it was first invented. And now, here we are!

To clarify - I'm not painting myself as a Bitcoin expert. I've been in the space since 2014, and my day job involved it at one point, but I'm no expert. The learning never stops in Bitcoin.

But some kind of community Q&A might be cool - anyone can ask, and anyone can answer. I'm sure I'm not the only bitcoiner here, as bitcoin is very analogous to digital real estate, so it's the same type of investor profile.

What do you guys think?

I think there needs to be some info on how to bank with bitcoin. Use bitcoin loans to buy RE and refi as to avoid tax hits. Loans are not taxable so one could get a loan on the BTC , buy RE outright, then refi with regular bank. This could be the move eventually for some. It is likely still too early for most on this but once btc hits 100k this could be very popular move.

2 Votes

Originally posted by @Mason Hickman:

@Matt R.

Still not going to do anything differently or start accepting bitcoin. What are you doing? Are your tenants actually trying to pay you in Bitcoin?

Cool, not yet and if they did I probably would not be here today as that would be in the multi millions at this stage.

0 Votes

Originally posted by @Rick Pozos:

The problem is that there is SO MUCH volatility you can not use it as a medium of exchange for anything. Oh wait, you can't use it anywhere anyway.

By the way, I am starting $RickCoin$. It is soooo rare, there are only 1 million of them available. Come get yours now. They are worth the equivalent of $100(very cheap for a limited time only), but will no doubt go up in value immediately!! Hurry!! Call me and I will give you my cash app info.

I like it and if Elon would put 1.5 billion in you are set. As far as using it, I think the option is converted to usd upon receipt although this might be short sighted thinking in the current climate perhaps.

0 Votes

Originally posted by @Irish Mac:

I'm a newcomer to the real estate game looking to buy my first rental property. I live in NYC and have been looking at different options about buying my first rental, such as house hacking, buying upstate and buying in another state.

Is buying a rental out of state a good option for a new and inexperienced buyer? or should I keep looking for something closer to home?

Any feedback would be a great help.

NY is a big state, lots of opps within. Include the tri state area and even more opps. It my understanding outside of Manhattan or NYC proper the taxes can be a challenge. House hacking NYC would be awesome if possible. Good luck with your search!

PS. Property tax rate for big apple is effectively .88% and or the result of 100 years of NYC developers influence.

0 Votes

Originally posted by @Charles Masten:

@Matt R. I hear you. Rookie mistake by me trying to separate the two, but thats why I'm here! I think we looked at our budget and completely threw out looking in our own backyard due to how expensive it is, but now I think we need to look at creative ways to try and get into the market through various was of financing that works with our budget and fits our criteria. Thank you so much for your input, appreciate you!

I think it is a veteran mistake too. Right now you could throw a dart in many areas and be ok. I know from second hand SD is easy to manage compared to some other options and maybe consider this management part of the equation as much as any other hurdle at this time. Good luck!

0 Votes

Total profits include both cash flow and appreciation as if you were going to sell YOY. These are not magically seperated for the accounting in terms of bottom line. For most it is circumstantial and mostly exact location based. Good news is SD is strong for those exact location circumstances.

Good luck!

2 Votes

I have no clue what you should do. San Diego is a baby LA and it is America's 6th largest city, #2 in Calif. Long term it is a throw a dart dealio almost.

Good luck!

0 Votes

San Diego, California

About 13 months ago I posted the same question when bitcoin was 10k. I wanted to check back again and if there was any difference in temperature sort of speak as far as collecting rents in bitcoin or any other new perceptions as it applies to RE investing etc.

Side note bitcoin is 48k at the time of post but what's a few thousand between RE friends...

0 Votes

If it is winning the race in terms of total profits which includes appreciation or lack of YOY as if you were going to sell minus taxes and fees, then it may be harder replace with other run of the mill rentals.

For example Austin TX is hot and has been for awhile. Turns out hot Austin is about average for CA. That's a long way to go for same profits. To make it worthwhile you may have to find something hotter than Austin Texas.

Good luck!

1 Vote

All Forum Posts by: Matt R.

Matt R. has started 118 posts and replied 3803 times.

Post: Bidding war in SF east bay area

Post: Possibly Unpopular Opinion - BP needs a Bitcoin Q&A

Post: Bitcoin is 40k, what are you going to do now?

Post: Bitcoin is 40k, what are you going to do now?

Post: Newcomer buying out of State

Post: Cash Flow vs. Equity

Post: Cash Flow vs. Equity

Post: Investment Strategy San Diego CA

Post: Bitcoin is 40k, what are you going to do now?

Post: Sell or hold in California?