All Forum Posts by: Pete Abilla

A house went for sale today in a really hot neighborhood. Asking price is $159,000 and the house immediately next door sold for $599,000 but a few other houses in the neighborhood sold for much less but still above $159K.

The house could definitely be rehabbed and improved both inside and the exterior

So, here’s my question:

Should I buy this house at $159K, rehab it, and hope it sells for around $599K?

I know you make money at the purchase, so the price is already high, but with the house next door selling for $599K there might be opportunity still.

Thoughts?

Good job man. Awesome journey and, at such a young age, you've got a really bright future ahead of you.

I have an opportunity to buy a 5 single family portfolio. No rehab needed, all with tenants already. Here’s my question:

Is it possible to get a hard money loan to purchase the whole lot, then refinance all 5 as a portfolio to pay back the hard money lender?

I just read this article and wanted to know everybody's thoughts. The article basically says that baby boomers will be releasing their owner-occupied homes into the market, dramatically impacting supply. I think that's what the article is saying. But I have a question. The article makes this interesting observation, but I don't quite understand it. 

Places likely to be most impacted by this upcoming Silver Tsunami include both retirement hubs (Miami, Orlando, Tampa and Tucson) and regions where young residents have left (Cleveland, Dayton, Knoxville and Pittsburgh). The impact of the Silver Tsunami is also likely to vary greatly across different areas within metros. 

Regions including Cleveland, Dayton, Knoxville and Pittsburgh are also more likely to see bigger effects from the Silver Tsunami. Younger residents have tended to leave these areas in recent decades, in many cases pursuing better job opportunities elsewhere, leaving older generations to make up a larger share of those who remain.

1) What exactly is the author saying about those metros?
2) What will be the impact to investors in those metros mentioned above?

https://www.zillow.com/research/silver-tsunami-inventory-boomers-24933/

Want to get more accurate at using the BiggerPockets rental calculator. What's a good guidance for:

Vacancy
Repairs and Maintenance
CAPEX
Property Management
Monthly Insurance

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I wonder what Dave Lindahl would classify Cleveland Ohio as of January 2020. What does everybody else think?

Are there any turnkey companies that accept Bitcoin in lieu of cash purchases? Actually - not just turnkey, but is there anybody here at BiggerPockets know of anybody selling their property(ies) and will accept Bitcoin?

When will your research be available?

Thanks Bob. Appreciate your reply.

I'm looking very seriously at buying a few rentals in Cleveland. But, I have a concern.

Everybody I've spoken to touts that Cleveland is a cash flow market. But the data shows that people are leaving Cleveland (and the snow belt for that matter) and moving to the sun belt areas. For example, there was negative population growth compared to the last census (384K vs 396K). 

So, what would you say to convince me to buy rental properties in Cleveland? Or, should I avoid Cleveland since population is shrinking and look elsewhere? 

Would love some advice here.