All Forum Posts by: Anthony Angotti

@Allende Hernandez

NEVER!

Just kidding, mostly, if you are strictly looking at ROI eventually it starts to decline. The BP calculator gives you a good look at that.

However literally every elder statesman landlord I talk to says they wish they would have kept more and sold less.

There are other ways to unlock the ROI (refi, LOC, etc).

I worked with @Natalie Kolodij who did a great job. She would be remote for you, but was still very knowledgeable and a good fit for RE if you don't need the face to face same state/city type person

@Akhil Nagapuri

If it is your only option then it can be worth pursuing, but as an agent the vast majority of my clients that try these end up with them not working out for one reason or another.

The time it did work easily was when the customers uncle was the GC and he was able to get work done inexpensively enough to justify the ARV appraisal (these are pretty hit or miss, emphasis on the miss) and to file all the paperwork correctly and on time.

There's just so many roadblocks with these kinds of loans and if there's any other option the others are usually much more straightforward and not headache inducing.

@Umang Govind

I don't think COVID will change much at all regarding markets other than causing people to move away from the very expensive ones where many of the jobs can be done remotely.

A trend you may see is a minor shift from dense metro areas to lighter suburbs/small towns surround expensive and mid priced type cities.

@Reginald Murphy

Welcome! Meetups are few and far between with COVID though some have gone virtual or outside.

I was running one pre covid for south hills of pittsburgh and will be starting that up at some point. I don't know when though, but probably when it is deemed ok to meet in groups inside again.

@Cheri H.

Typical ranges would be 10-15% interest

1-4 points

1 year loan period with an option to extend for a fee

If you've never done a deal with them some of the more national types make you pay for an appraisal, and keep in mind appraisals can be dicey if they involve projecting forward value based on improvements. Luck of the draw with who you get combined with good planning on providing the appraiser your packet of info for the property and comps of what your improved property would be.

@Ari Hadar

My suggestion wasn't to start with finding a rockstar agent, but to evaluate purchases in a few markets you are somewhat familiar with first before building a team.

Also, if you are new a lot of agents work as a team where you get the experience and advice of the lead agent, but have the hustle of a newer agent that is under them.

The book talks about that as well because you are correct that a solo agent that has a lot of experience doesn't typically want to spend a lot of time with a new investor.

@Crosby Afolabi

Nice to virtually meet you and welcome!

I'm almost to 100 units and invest mostly in the South Hills.

Am also a realtor, niche property manager, and am licensed as a general contractor, but I use it for project management and not running an actual contracting company. Would be happy to answer whatever questions you have.

@Damien Pulvino

The out of Long Distance Real Estate Investing book is a great place to start.

As you'll read the team is more important than the market. Everyone has different opinions on markets but I find most people just suggest wherever they invest or where they live (which in a way is good because it should REI can work in any area).

My suggestion would be to pick a place you are reasonably familiar with or is like somewhere that you know. Then start looking at prospective purchases. If there are enough deals that work keep building the team.

If you operate well and manage your manager well rental property investing can work pretty much anywhere. I have one rental in a fairly depressed little town outside of Pittsburgh and it's actually doing quite well because it's a nice place in an area where many landlords don't have nice places. People need a place to live everywhere and if you screen well you will find decent tenants as well.

Caveat to this is that the little town isn't dangerous in any way. It's just not very high income.

@Wyatt Hagen

You should focus on the numbers. I wouldn't say student housing is a main niche at all. Really only applies to a few neighborhoods.

I generally look at public transit lines and easy access to the city. However with COVID doing some damage to the downtown Im not sure how important access to downtown will be when things start to normalize a little.