All Forum Posts by: Sushree Mohanty

@Katie Buell hi did you figure out the best places to invest? I have started doing my research and yes there are so many rules if it's not your primary residence that it's driving me nuts!

@Luke J Nelsen did you end up buying in Alaska? If yes, how has it been so far? I'm looking to invest in STR too and Fairbanks seems like a good option to me.

Hi Manny - thanks for the response. This is very helpful. How do you co-own STR ? I.e have you done it with your friends and family or some other investors you found in a community like BP?

Hi everyone - My husband and I reside in CA and looking to purchase our first STR.
Any tips/pros and cons on where to invest which will provide good cashflow? We will hire a property manager so that will be 20% commission. We qualify for $1M but not sure if it makes sense to invest that high for one STR. Our goal is to have multiple properties with positive cash flow over the next couple of years. 
thanks in advance!

Quote from @Justin R.:

Dont shoot randomly. Invest in your own backyard (even if its temporary) if you can. Many areas in central CA have had, and will continue to have growth. Yea CA sucks and Im not going to sugar coat it. The cost of the more expensive markets in CA (SF Bay Area, So Cal coastal, etc) have people leaving by the flocks. Many of these people are going to central CA because of its proximity to the areas they moved from and their family. 

Another benefit of CA is the low property tax, and prop 13. Buying in CA now locks in your property tax rate with minimal future growth. 

Plus, if you buy a 1-4 unit property and live in one unit (even temporary till you move) you get the best financing available, and with rates this high that is prudent. 

Nothing wrong with investing out of state. It does take a lot more due diligence, trust, education, and trial and error. You have the opportunity to create those relationships, and knowledge where you live much much easier. 

Hi - thanks for the feedback. Due to my husbands job situation, we will be showing the property out-of-state as his primary residence. We have done our due diligence in finding out about that. Also, we do plan to to hire a property rental management conpany. But I agree, it’s a lot more work and we are willing to do it since it’s our first investment. Thank you for all the suggestions. We will do our research and be careful. 

Hi everyone - My husband and I are planning to buy our first property as a multi family home and put it on rent. I have looked up Tenessee, Vegas and Arizona. Arizona and Tenessee look good. 
Our budget is around 800-900k. We plan to have it rented and break even or even put <1k monthly. 
Is this a good move in current situations? 
we have decent savings of around 500k and are currently living in a small city of Central California (not buying property to live because my husband’s job is not permanent and we don’t know where we will move next).