All Forum Posts by: Nicholas L.

@Gabrielle Reyno

OK.  Seems like you could learn together without partnering.  OOS investing is very difficult.

Just my two cents.

@Gabrielle Reyno

just curious - what's the impetus for partnering this early? 

@Account Closed

the only reason to buy in cash would be to make some kind of value add play - like buying a property in cash that is only accepting all-cash offers, fix it up, then refi to get your cash back. otherwise your cash is stuck. but having that much is a great way to make aggressive offers with no strings attached. you just need a value add and refi plan - like a BRRRR.

@Susan O. my opinion is that, if you are going to invest out of state, you really need to get to know the target market in a way that you can't just Google.  This could mean visiting, seeing properties, networking, building your Core 4, etc.

Or you can check out previous threads on BP about which specific markets and sub-markets OOS investors buy in.

@Noah Davis

I don't own any large apartment buildings, but I don't think you're thinking about this the right way.  If you're just getting started now, you're like to be in a much different, and stronger, personal and network and financial situation once you acquire a few units and are years in.  So - no offense intended - but I don't think this is the question to worry about right now.  House hacking a 3-4 unit is a fabulous way to get started - focus on that.

And, a similar question to this was just asked on one of the recent BP podcasts - how to pay back a loan if you're buying turnkey? - and David Greene gave a couple of good answers.

Hope this helps.

@Brian Kim

I think you're asking a personal question mixed with a real estate question.  Which is why you're getting the varied answers.  And most people don't refer to their primary residence as a "place to stay"  =-)

As @Russell Brazil says I think DMV real estate is a solid investment.  I lived in a one bedroom condo in Clarendon that I absolutely loved, and kept it as a rental when I moved out.  I break even on it each month, but I have great tenants and it has appreciated quite a bit.  I'm keeping it for the next 110 years.

One way to think through this is - what impact will this purchase have on your financial situation and ability to continue investing in 2 to 5 to 10 years? Is it going to crush your DTI ratio? Or be absorbable? Will rents support a break-even situation once you move out? Etc.

@John Joseph I think the short answer is - yes, you're correct, random properties listed on the MLS in the DC area aren't going to strongly cash flow. But I think that you are probably within driving distance of markets that will, like Frederick. Or you could try to find a house hack. Are you just starting out? Do you already own a primary?

@Vidal Gonzales find a market you can drive to.  Attend REIAs. Meet agents. Look at houses.  Network.

@Rohit Nadgauda

the way to get to "0% down" is not by actually putting 0% down at closing, but by adding value. for example, the BRRRR method. I'm not saying you should BRRRR, I'm just saying that this is one way to "leave 0% in the deal." you're likely going to have to pay money to acquire property. but once you have it, there are options.

can you house hack?

@Samuel Martin

the things you mentioned - "annual property taxes, rehab estimates, or finding a decent market to begin with"

are all completely different.

property taxes will be specific to a property.  rehab estimate will only be for a property that needs it.  could be $0, could be more than the purchase price.  and market... that question has been answered umpteen times on BP.  why not your market?

here are some things you can do:

go to REIAs and network

call a lender and see how much you can borrow

find a realtor and go look at properties in person