All Forum Posts by: Andrew Syrios

Welcome to BiggerPockets Adam!

Our partner on our biggest deal (technically a TIC; tenants in common) did a 1031 exchange to get into it. They ended up making over a million dollars when we bought them out five years later. I discuss the details in this article: https://www.biggerpockets.com/...

I've heard of lots of people doing well with a 1031 exchange.

Welcome aboard Nicholas and best of luck investing!

Turnkey is unlikely to get any equity upon purchase (maybe even a little disequity) but can be very simple and passive. That being said, you really need to vet the operator and manager as I've seen some bad ones make turnkey go sideways.

We've had terrible luck with national banks for refinances. And no luck the times we've tried for HELOCs at all. Your best bet is probably with local community banks. I'd go to your local REIA and ask around. If they've lent to others doing what you're doing, they're likely to lend to you too.

I think house hacking, particularly with an FHA loan (or other high LTV loan) and particularly on a duplex or fourplex is by far the best way to get started so I would definitely lean in that direction.

There are plenty of people who try to offer scams in the forums. I think we're pretty good at taking those down. As far as the marketplace, some of what is sold is basically guru stuff or overpriced "real estate services" which everyone should always be careful about.

That's the biggest reason we don't do subject to and owner finance very often. Rarely will the seller lend you any of the rehab too. Thereby, you basically have to refinance with a bank to pull out the rehab money (assuming you got a good enough deal to do so).

Going forward though, with rates having gone up so much, subject to deals could be very lucrative given how many 3% ish, 30-year fixed loans are out there. (Although this time around, the banks might actually call them due so that's something to be cautious of.) But I would aim for ones that don't need much work. You don't need a great deal (assuming you're holding) if you can assume debt like that. The financing makes the deal great.

Congrats Todor!

This study by the Federal Reserve Bank of Cleveland comparing government housing to vouchers was pretty definitive at least in that regards:

“…closing large public housing developments and dispersing former residents throughout a wider portion of the city was associated with net reductions in violent crime, at the city level.”

https://www.clevelandfed.org/p...