All Forum Posts by: Moe Sidd

 Good to know the California dream is alive and well lol

 @Ken M., haha AI does ask for breaks, if you don't have the paid version it'll say you hit the limit for today 

@Alan F. Haha affording an Escalade as an uber driver is crazy work😂 can't relate 

@Paul Underwood

Have you looked into NREIG? Not sure if they do apartment buildings, though, so you'd have to check. They are pretty affordable and actually came through when I made a claim. This was in Toledo and Detroit, though, but I think they are nationwide.

https://nreig.com/products-overview/rental-property-insuranc...

$2000 on a 200k investment is excellent; it passes the 1% rule, which is kind of unheard of nowadays. I say keep it and continue making similar deals with these numbers.

I wouldn't fall into the multi-family hype; the returns are often worse than SFHs. Look at the number extra carefully if you're gonna attempt multi-family.  The prices have been vastly inflated by gurus and BP hyping up that asset class.

 @Henry Lazerow, 

I've run into the same issues in hot markets, but even now when things should be slow, haha. It's kind of silly because I'm literally trying to make them money, so it's hard to see why they wouldn't try to close a deal/be responsive. They also hate negotiating even a slight reduction from the asking price. 

I think the lack of professionalism is due to it being a career with a very low barrier to entry (a few weeks of an online course, versus years of schooling required for other professions such as finance, engineering, and medicine). I'm highly considering getting my own license so I can jump on deals quicker and actually be able to negotiate. 

 Hi @Noa Lukela,

Not in Denver, but I do think that in most of the country, deals aren't really cash flow positive when you take into account the mortgage, taxes, insurance, vacancy, closing costs, and low rental yields, among other factors.  

In states where the numbers used to work, such as Colorado and Texas, it no longer makes sense in most cases. So I feel investors and even homeowners are thinking twice before diving deep into real estate investing, as they should. 

In a way, the hype dying down is a good thing, as prices jumped way too high post-pandemic. A cool-down is much needed, especially for first-time homebuyers.

 @Denzel Dones,

With your background, flipping could definitely be a good fit, but I'd also look at long-term SFH rentals if you want to build wealth and cash flow over time. Especially starting out, I'd advise the more passive, easier option in real estate investing.

If you’re open to out-of-state investing, markets like Toledo, Detroit, and Dallas have been great for both flips and rentals depending on the neighborhood and team. I’ve learned a lot from successes (and a few misses) in those areas and happy to share what’s worked if you’re exploring that direction.

 @Colton Saucier, 

The Midwest is full of solid opportunities especially from a cash flow and low cost of entry perspective. From my experience, the key isn’t just picking the right city but building the right local team including contractors, property managers, and agents you can trust.

I actually live in Dallas, but have experience investing in both Toledo and Detroit as well. I'd be happy to share more specifics about what’s worked for me and my investors in each of these areas if you’re exploring any of them.

@Ken M., this one hits close to home as I am selling one too at the moment!  I wonder why condo living is not as popular, but I guess that it's due to many of the ones on sale being older and poorly maintained complexes. Also folks tend to not like the shared vibe of condo complexes.