All Forum Posts by: Robb Almy

There's an old cliche in real estate investing: "Don't wait to buy real estate, buy real estate and wait."

However, this doesn't mean to do so blindly by throwing darts at a map. You are clearly not doing so just by the fact hat you ask this question. But, do you due diligence. Run your numbers. Do your research. Be willing to look at markets outside your local market. Talk to others. Have an exit plan. Line up your financing if you are using financing. And more...

Good luck to you and happy investing. 

I recently renovated a four-plex and we installed mini splits throughout and love them. I have and will continue to use them whenever feasible. Whatever way you go, hope your luck improves and I am sorry you have to go through this. Best wishes and happy investing. 

I rent to a college. The benefits are I get to deal with one entity instead of multiple tenants. Likewise, there is a single payer and they are solid. Individual tenant concerns about the property go through an additional layer before they even get to us. We have found very few negatives at this point and we are over a year in. I would say that the college is top notch in terms of communication and as a quality tenant so I am sure that makes a difference. 

Hope everything works out for you. Best wishes and happy investing. 

Congrats @Tyler Youtzy on the acceptance to the MBA program! Exciting!! 

While ultimately you will of course have to answer the question for yourself, I would suggest if you have not already done so, talking with some property managers about their day to day work and compare that to the work of an agent. I am sure you will find a ton of good information but to me the main difference I would see if that is there is a little more flexibility being an agent than a PM. As an agent, you will have the option of turning things up or down in terms of your real estate activity. If you are managing properties for others, there is no option. You will be "on" all the time.

I have  great PM (who is also an agent) I can connect you to so you can get some more info if you would like. Just shoot me a DM.

Best of luck and happy investing. 

Great work @Shravan Hemchand. Thanks for sharing this tool. Keeping an eye on such numbers is something most investors (including myself!) can use help. I look forward to exploring the tool. Good luck and happy investing. 

Like politics, all housing is local in my opinion. However, overall I think we are definitely cooling because of the higher rates. As mentioned by others, inventory is still low in most places so that is helping to protect values in the short term. We may see some decrease in values over time but a lot of real estate has been overvalued as of late. The good news is that depending on your financing and your cash flow, if your property goes down in value it is a loss on paper that you can ride out and then hopefully ride back up. Patience will be key. 

Great question and discussion! I have heard a lot of different opinions about this question and think there are pros and cons on each side. 

In the end, I think it comes down to the individual investor. The two things I would say that are important in my opinion to consider are time and temperament. 

Is your time worth more than you would pay a PM? In terms of number of units an investor can handle that depends in my mind on the type of units and their level of involvement. I started using a PM with my first unit.

For temperament...can you be firm or even what some perceive as "mean" as you run your business? If not, perhaps you should use a PM. 

Those were two of the things that helped me decide what to do.

Best of luck and happy investing. 

Welcome to the BP community, @Nel Patel! There are indeed a lot of great resources and features here and I hope the site helps you in your real estate investing. Best of luck and happy investing. Welcome. 

I would suggest you invest in yourself. Invest in education and networking (REIA groups). Perhaps you can work in some form in the real estate business (become a real estate agent, appraiser, etc.).

If you are able to I would also suggest you consider house hacking. There is plenty of info on BP about that as well as resource outside of the site. 

I am sure others can share some other great insights as well. 

Best of luck and happy investing. 

I recommend Home Dream Realty. https://homedreamvirginia.com/ They are investors themselves and run one of the local reias. Good luck, best wishes and happy investing.