All Forum Posts by: Anibal Mijangos

Cold calling has been getting the job done for us in LA County as an initial contact strategy. We plan to combine this with direct mail as a follow up strategy + a referral strategy through email drip campaigns to get leads from past closed deals.

1 Vote

All depends on your risk tolerance. The safest bet would be to put the money towards educating yourself in real estate investing. Books, courses, events, etc. If you got a good lump sum and you're okay with high risk, I recommend crypto. ETFs and index funds are usually new investor go tos too. Mutual funds are typically lined with fees and their returns aren't the best in the world. I'd stay away from them.

0 Votes

Hey Tyler. There's always going to be people out there that want to get rid of their properties asap. Motivated sellers are everywhere. It's just up to us to do as much efficient marketing as possible to get to them. I'm a wholesaler in socal so if you have any specific questions, let me know. Here to help.

0 Votes

I highly recommend finding an accountant that is a real estate investor themselves. They'll know a lot more than your typical accountant.

1 Vote

That's great! I'm super interested. I'll send you a message.

1 Vote

Reiskip is always good. It's by Max Maxwell, a top YouTuber on wholesaling. A quick Google search pulls up a lot of other services too.

0 Votes

Another thing you may want to look at is FHA loan limits in New York. There are some cities and counties that have a limit of $685,400 for a 4plex. You can find this info on HUD's website.

House hacking and BRRR tend to be glorified investing strategies. Although powerful, there's always another angle to them that don't always get the spotlight. Although still very possible on the coasts, I've seen house hacking be a more powerful investment strategy away from the coasts.

1 Vote

Hey Jose! Lots of development happening in Bakersfield. I think it's a great area to invest in! Bakersfield has become almost like a second home since I have some business and lots of family there. Let's connect and see if I can help you out with your investing journey.

1 Vote

Hey! All depends on your risk tolerance and your current income. I'd say if your current income can cover your monthly expenses, it's worth allocating some of your savings towards investment funds. But make sure to continue saving and to leave some money in the savings for a rainy day. You don't want to be caught in a bind with no reserves.

0 Votes

Originally posted by @MJ S.:

@Ryan McCann- Be sure to check your local regulations to be sure you can stay within the guidelines and still make a profit. I checked on Philadelphia (assuming you want to Airbnb locally). Your regulations are much more flexible than what we have in Kansas City.

In Philadelphia, both hosted and non-hosted stays are legal. That's not true in all cities, effectively putting you out of business if the city doesn't allow non-hosted stays. Hosted stays are capped at 180 nights (which shouldn't apply to you if you're not leasing your own residence.) Zoning restrictions exist, but only if more than two units within a property are rented out by the same operator.

Operations in Philadelphia are restricted to commercial so if you're property is residential, you're out of luck. Last year, Philly also implemented an 8% tax for Airbnb properties.

If you have an HOA, be sure to confirm that Airbnb is allowed. Your insurance coverage is something to consider, as well, but that is relative to whether you're renting/subleasing, considering Airbnb for a current rental property, or something else. Check with your insurance agent to be sure.

All things considered, Philadelphia is very Airbnb friendly. Airbnb is illegal in Atlanta, New Orleans, Oklahoma City, and Denver - and non-hosted stays are illegal in Los Angeles... only assuming you get caught, of course. There's no question there are those operating illegally, whether intentionally or not.

@Meghan McCallum - Are you required to pay a city tax on Airbnb in Chicago?

This is a something major I've noticed in the LA County area. I've met multiple AirBnB hosts that have many scattered around. But they're all technically illegal. Yet when I ask them about the risks of being caught, they claim it to be non-existent. They say it's a situation where the high reward outweighs the risk involved in illegally operating an AirBnB.

That being said, what would be the ramifications for being caught operating an illegal AirBnB? Has anyone had their AirBnB shut down?

0 Votes

All Forum Posts by: Anibal Mijangos

Anibal Mijangos has started 13 posts and replied 90 times.

Post: Most Fruitful Way to Connect With Sellers?

Post: Where should I put my money while saving for Real Estate

Post: New Investor in Real Estate

Post: Action plans and moving foward.......Accountant

Post: Starting Virtual Mastermind Group For Amateur Investors

Post: I am in Need of a Skip tracing service!

Post: How can you House Hack in Expensive Markets?

Post: Bakersfield Ca Investors

Post: Persona finance help (question could be used with so many flairs!

Post: AIRBNB