All Forum Posts by: Steve Meyers

For those of you wondering what impact the election of Biden does to our current real estate market...here's a quick snapshot of things that MAY happen. Biden has proposed a few different policies that real estate investors should be aware of!

1. Assistance for renters and homeowners - Among Biden’s ideas is the hope to support first-time homebuyers by initiating up to $15,000 in tax credit.

2. Rent and Mortgage Forgiveness - Another concept Biden has supported is the notion of rent and mortgage forgiveness. Should it come to pass real estate investors could potentially struggle with tenants who are not able to pay rent.

3. Increased Tax Rates for Investors - Another proposal was Biden’s wish to eradicate the 1031 tax loophole for investors that have an annual income of $400K or more.

All of these listed above are only possible scenarios but it does not bode well for investors.

@Dave Foster Thanks for the insight this was helpful for sure. 

I was curious if anyone had any good resources of how someone might find investors that are needing to do a 1031 exchange? Any insight would be appreciated

Thanks everyone.  I appreciate everyone's input this has been very helpful.  I've narrowed it down to the following states below, I'd appreciate input on best cities for both Air BnB and for long term tenants if anyone has any experience/input on those as I don't know these areas at all.

Ohio

Indiana

Oklahoma - OKC specifically 

Tenn

I'm ideally looking to do 20% down since it will be an investment property, I want to stay around 200K-250K ideally since it will be my first investment property purchase.

@Alyssa Dyer thanks for the input Alyssa.  I've narrowed it down to OK, OH and IN as far as the states go that I'm looking to invest.  Have to do a little more research but I appreciate the input!

@Zack Howard thanks for the input, looks like Indiana may be a good spot to invest.  Are there any areas that do well with air bnb or is it more long term tenants?

Thanks Jon and Soh this is helpful.  Any certain areas of Indiana you purchased in?

I would imagine houses are more than $100K in Phoenix

Thanks Shelon, I think what I'm ideally looking for is a house that's pretty cheap $60-$100K that's in a good area where I can Air BNB or place long term tenants.  a 50 unit complex is a little too steep for me at this stage.  Would be interested in learning about the Pensacola FL market though.

Hi All, I'm a local realtor here in San Diego and I'm finally at the point where I want to invest in real estate, but not here in San Diego as the prices are too high.  I'm looking into Ohio as I know you can get properties there pretty cheap.  I'm curious whose investing in these cheaper markets and also if you're doing Air BNB or have long term tenants in place.  I would be looking to put down 20% as it would be an investment property.  Any feedback on good growing markets for rentals/Air BNBs would be much appreciated!