All Forum Posts by: Andrew Syrios

Welcome to BiggerPockets Reed and best of luck investing!

Short term rentals are great although I would approach them with more caution right now. We appear to be entering (really have entered) into a recession and things such as short term rentals will get hit the hardest by that. Doesn't mean they don't work anymore, but something to definitely be weary about going forward for the next year or so.

You can't raise the rent in the middle of a lease unless the lease is a month-to-month or has some weird clause in there I've never seen. It really just comes down to what the lease says you can do. That being said, we're talking about one additional month. You can talk to a lawyer, but I'm not sure that's really worth a fight over.

I've seen quite a few Californians invest here in KC as well as other midwest and southern states. It makes sense as they certainly cash flow better here.

If you are going to invest out of state, make sure to be careful and visit. I've definitely seen some people lose their shirts investing out of state. I wrote an article about it you might find helpful a while back if you're interested: https://www.biggerpockets.com/...

Welcome aboard Hayden!

The problem is that most banks won't do a cash out refinance unless it's rented, at least they won't do it at the appraised value instead of just the amount of cash you have into the property. If you can find a bank that will refinance at appraised value on a property right that's vacant, go for it. But most banks won't. 

Welcome aboard Alex and best of luck investing!

 Glad to hear, thank you Nick!

Welcome to BiggerPockets Aaron and good luck investing!

The BRRRR method involves buying 25% under market or at least close to that. So it's pretty low risk by definition. The challenge is finding such deals, particularly in this market.