All Forum Posts by: Sean Bozigian

@Austin Bull Welcome to BP and congrats on taking the steps to get your first property under your belt! 

In regard to timing the market, I''ll use this most recent correction as an example as to why it is so difficult to do. When the market started reversing last summer, many were excited for a chance to finally "time the market" and find a deal. Don't get me wrong, some were able to do so, but by means of luck more than anything else. Many passed up on a window of low buyer competition and more motivated sellers because they were waiting for the "perfect" time. Fast forward to today and prices and competition are back on the rise. In hindsight, November would have been the best time to close on a home. However, we didn't know that until just a couple of months ago. Real estate is so difficult to time because data lags months behind what we are seeing in real time. 

Life can change fast - if you are in a position now to take the steps to start building wealth, I would personally take full advantage. Hope this helps!

@Chad Price Hey Chad. Welcome to BP! If your strategy is to use this for STR, I would recommended steering away from a new build, and anything in an HOA community for that matter. Almost all new build communities will have a restriction on STR and if on the off chance they do not, you run the risk of that changing at any time down the road. Hope this helps!

@Rod Saleh I would choose Desert Ridge all day, but that is absolutely a personal preference. While you aren't going to be ON a mountain in DR, can find mountain/city views. I also am more bullish on that area as a long-term investment. Just my two cents!

@Jordyn Lai Hey Jordyn. As many others have mentioned, there are still deals to be had out there, they are just a bit tougher to identify in this current market. I'd recommend getting connected to an agent & lender in each market who focus primarily on working with investors. It takes creativity and a solid team around you to find the gold right now. 

@Rich Haigh Hey Rich. As Spencer mentioned, your investment strategy and long term goals play a big factor in this. Can you provide some more context?

@Josh Young This is a great breakdown. Thanks for sharing!

Hey @Jonathan McEntee we have a condo in Old Town and have had luck renting to travel nurses and professionals. As you noted, vacancy rate and up-front furnishing cost presents some risk, but the returns are worth it if you can keep it occupied. One thing to note is that travel contracts have slowed down at a lot of hospitals in the area, both in volume and compensation. I would recommend joining some of the travel housing FB groups to monitor activity and gauge interest. Best of luck!

@Thomas Entheo Welcome to BP... and the valley! There is a lot of potential, in deed. Best of luck to you on your journey!

Hey Jonathan. I would recommend you have a lender look at your specific situation to help give you an idea of what affect certain cashflow numbers (positive or negative) may have on your DTI and ability to qualify for loan #2.

The obvious answer is as close to break even as possible, or positive. With that being said, you may find that the best house hack for you personally doesn't equate to the best long-term rental or vice versa. Having a conversation with a lender will help give you an understanding of your financial picture and help bring some clarity to how flexible you can be with purchase 1 to set yourself up for purchase 2.

Happy to assist in anyway possible!

@Alex Kohler there are a lot of variables here. What type of property? what loan type would you be using? Short term or long term rentals? How much of a down payment would you bringing? What's your budget?

Generally speaking, cash flow has gotten harder to come by with current prices and interest rates, especially when buying directly off the MLS. If you're willing to think outside the box a bit (creative finance, off-market value add plays, house hacking, etc.) you'll find that there are some solid opportunities to be had.