All Forum Posts by: Moaaz Malik

@Jack Orthman Hey Jack. Thanks so much for this breakdown. This was extremely helpful! I’ve started an excel sheet to run some analysis. I think the inputs and projections are the hardest part. Getting an accurate estimate on my expenses and income is the challenging part. I guess it will come with practice.

@Daniel Jensen appreciate the info!

I'm looking to get into purchasing some rental properties, but I keep coming back to how will I get the funds to get my second property? I currently have ~$100K  to put towards my properties. Let's say I use that cash for my first property in California that has a mortgage of ~$500K. I'm thinking California because I live in the Bay Area and would like to be nearby for my first property.

 Is it then hard to get a second mortgage?  I imagine it would also take a while for the cashflow to be enough to get a downpayment for the second house? I would love to hear everyones opinion on what's the best way to continue to grow my rental properties.

Thanks! 

@Daniel Jensen got it. If I can ask, how was your experience buying your first out of state property and how much experience did you have before taking that step?

@Daniel Jensen thank you so much for the advice. Living in The Bay Area a lot of the properties are out of my price range for a cash purchase. I know I'm looking for my first property so something close by would be best but should I consider properties in other states? Also is a cash purchase my best bet if I'm using the BRRRR method?

As I’m just getting started in real estate. What exactly does it mean to continuously run the numbers on a deal and analyze?

What are some steps you take when looking at a property to see if it’s a good investment or not?

Is it as simple as looking at sales prices of the homes nearby and also what houses in that area rent for?

Im trying to think of an efficient way to analyze deals but I’ve never analyzed a deal and I’m unsure of everything I should be looking at.

@Carlos H DeOliveira got it. A little nervous about investing out of state as I’m just beginning but seems like the best value and opportunity

I have 100K in cash saved to start investing in real estate. I currently live in California and that isnt enough funds to start with the BRRRR method by buying property here. What's the best approach that I can take? I've started reading and learning about investing and won't just jump into something but is out of state investing my best option?