All Forum Posts by: Robert Musallam

Hey @Matthew Hagerty Welcome to BP!

If you're truly looking to realize the value of BP, you'll upgrade to a PRO account, put a photo of yourself up and keep us posted on your progress!

Best of luck to you!

Hey @Christopher Moore Welcome to BP!

I currently invest both in state and out of state. I'd be happy to answer any questions you may have about investing out of state.

If it's purely between those two options, I'd say LLC. But as @Chris Mason astutely pointed out, you can't get a 30 yr fixed loan with either of these. Worry about this part later when it becomes necessary from a liability standpoint. If you haven't already, listed to the latest BP Podcast with Brandon Hall - there's a good discussion around LLCs or Umbrella Policies. Might give you some guidance.

Ideally, you have identified an out of state market you want to invest in. From there, you can begin the on the ground research through BP to find and connect with the usual suspects you'll need on your team (realtor, property manager, etc...). 

Have you thought about where you'd want to invest?

Welcome to BP @Rohan Attravanam

You're definitely in the right place to help you achieve financial freedom! Best of luck on creating and implementing your plan of action!

Hey @Justin Madison

Welcome to BP! There's a lot of great people here to help you learn more about everything you'll ever want to know about investing. 

As many have suggested - dive into the podcasts, connect with other investors and ask questions. 

Hope to see you around the forums or possibly at a local meet up!

What's up @Max McNally. Welcome to BP!

I'd love to meet up. I may not be as seasoned as some of the others in this area but I can certainly give you some insight. 

Let me know if you're interested.

Hey @Gayle Eisner

I would take @Lance Hulsey up on his offer. Do an analysis to see if selling or renting is best for you. If you could keep it as a rental for a couple of years, then sell, you'd be able to take advantage of a 1031 exchange.

Feel free to reach out to this forum for more guidance if necessary.

Best of luck!

@Rong Liu

Keep it, in 11 years you'll be happy you did. Only reason to sell a bay area property, IMO, is to get after a larger, more cash flow positive, bay area property. Otherwise, enjoy your equity & positive cash flow.

@Sigmund Reboquio

Personally, I'd de-list and make the modifications people have been mentioning (myself included) and then re-list at the price that will attract competitive offers on your property. Whether you choose to re-list with Redfin or change and go with John Doe Realty, you should be questioning the marketing strategy of your agent. If they don't have a justification for their pricing, marketing, etc...Don't use them.

Listing it on the MLS is not enough. Go with a Pro and realize the true value of your investment. Period.

@Sigmund Reboquio

Here are my thoughts:

(1) When you list at $1.07M, you've eliminated the group of people who have set their searches for under $1M who have the financial ability to go above $1M if they fall in love with a house. This is not my opinion of the house value, just a general thought on the strategy to attract a buyer.

(2) The access ramp is a bit of a hindrance. Mainly because your home is pretty much ready to move in, but that's (a) the first thing they see when they drive up and (b) an immediate expense - in addition to buying the place - that they'll have to incur. Might be cheaper for you to remove it.

(3) I noticed it's not located on my MLS listings here in Santa Clara county. Since it's listed by Redfin, I don't see any reason why they wouldn't cross promote it to our agents as well. We have 20000+ total - many of whom have strong relationships to Fremont searching buyers. Heck, I just picked up a Fremont searching buyer yesterday. Seems odd they didn't cross promote you. Wouldn't hurt, at least.

Anyways, not to bash on Redfin but I've heard from agents in my office that they avoid working with them for a variety of reasons. I don't ascribe to that philosophy, but it's possible that could be hurting you too. 

I know you're already listed, so I'm being cautious as I say this but feel free to reach out if you have any general questions. Like the rest of the community, I'm here to offer some help.

Best of luck.

Hi @Erick Tran Welcome to BP! I just PMed you.

Thanks and good luck!