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All Forum Posts by: Tina Tsysh

Tina Tsysh has started 12 posts and replied 210 times.

Post: Analysis Paralysis - Selecting a first long distance market

Tina TsyshPosted
  • New to Real Estate
  • Orange County, CA
  • Posts 214
  • Votes 184

Make sure you listen to BP Real Estate episode 384 where Spencer is telling a story of how he invested out of state and lost $60k because things quickly got out of hand. Before thinking which markets to invest in, you have to ask yourself if you are okay with losing money in case things don't go as planned. When you invest in a market where you don't live / don't have people that you know, the rehab process can become a complete disaster. If you are not there to monitor the work, things can quickly get out of hand like they did in Spencer's case. 

On the other hand if your job allows you to work remotely or travel often, or if you have family / friends in a certain market, investing out of state can work. 

First places that I think of where to invest are Phoenix AZ, Nashville TN, Austin TX, Miami FL, Denver CO. However, don't forget that investing in a good market doesn't guarantee that you will make money and investing in not so good of a market (LA for example) doesn't mean you won't make money. 

At the end of the day, it is all about how much risk you are willing to take and what your long-term vision is. 

Good luck! 

Post: Buying our first home....possible rental or flip?

Tina TsyshPosted
  • New to Real Estate
  • Orange County, CA
  • Posts 214
  • Votes 184

Option 1 is what most people think when they hear the term "American Dream" and by choosing option 1 is how people stay stuck in middle class for a very long time. If I were you, unless you are ready to dedicate a considerable amount of time towards flipping homes and eventually making a career out of it, would do option number 2. This way you are learning a lot about the rehab process, your other tenant is paying the mortgage for you and putting money in your pocket by paying down your principal, and you get some benefits when it comes to being a first time home owner all at the same time. By fixing up the home and refinancing it eventually, you can continue doing the same thing over and over again and thus build your real estate empire. Good luck! 

Post: Townhouse Off-Market Flip

Tina TsyshPosted
  • New to Real Estate
  • Orange County, CA
  • Posts 214
  • Votes 184

How much are you putting in rehab costs? If you are putting less than 10k, then I would say it's worth it. But if you need to put in 20k-30k, then that's pushing it and there's not much value to add. Also don't forget to factor in some cost overruns because those can really kill the deal. If your rehab costs are more than 10k I would look for another deal with a bigger spread. Good luck! 

Post: What to do with a single family property on a large lot?

Tina TsyshPosted
  • New to Real Estate
  • Orange County, CA
  • Posts 214
  • Votes 184

Depending on where you live and what the regulations are in that state / county, you might want to look into ADUs (Additional Dwelling Units). Depending on your market, those might work great. Think of those as a "mother in law" type of dwelling. You can rent it out on a monthly basis or do airbnb. Again, a lot of it depends on the market you are in and the amount of capital you are willing to deploy. I am only familiar with Southern California markets, if that's the market you are in let me know and let's discuss further. 

Hope this was helpful good luck! 

Post: Need help with Rent or Flip Dilemma in Los Angeles

Tina TsyshPosted
  • New to Real Estate
  • Orange County, CA
  • Posts 214
  • Votes 184

Do you have any plans on what you would like to do with the cash if you sell the property? Do you want to grow your RE portfolio and start buying multifamily or are you satisfied with having the 2 homes that you have? I think that you have to evaluate your opportunity cost in this situation and take into consideration your greater vision around real estate. 

If you want to continue growing your RE portfolio, you can sell the home and buy more units with that cash BUT as you mentioned you have to be very careful because of the eviction moratorium. Especially in CA the laws are extremely tough for landlords when it comes to evictions. Are you comfortable at looking out of state for multifamily? 

Hope this helps in some way! 

Post: Is it okay to use my personal cell phone for LLC business?

Tina TsyshPosted
  • New to Real Estate
  • Orange County, CA
  • Posts 214
  • Votes 184

Get a Google Number - it functions like a regular number meaning that you can text and call from that number. It's free and there is an app for it for your phone. It's very helpful and allows you to keep your privacy without sharing your personal cell! 

Post: Long Beach - LA County - Orange County Meetup (Virtual)

Tina TsyshPosted
  • New to Real Estate
  • Orange County, CA
  • Posts 214
  • Votes 184

I am interested as well! Please let me know what day / time you decided to go with. 

Post: New Member - Excited to join the Community!

Tina TsyshPosted
  • New to Real Estate
  • Orange County, CA
  • Posts 214
  • Votes 184

Welcome to BP! I am local to OC and also looking to increase my network this year. Our investment criteria is very similar and I'd love to learn more about your future plans. Feel free to message me and good luck on your journey! 

Post: What’s the deal on federal COVID rental assistance

Tina TsyshPosted
  • New to Real Estate
  • Orange County, CA
  • Posts 214
  • Votes 184

I believe everything depends on which state / city you live in. You should do some research regarding your specific city / county / state because each state has different amounts of help, qualifications etc. Hope this helps! 

Post: E signatures on contracts

Tina TsyshPosted
  • New to Real Estate
  • Orange County, CA
  • Posts 214
  • Votes 184

Docusign for sure! And they also keep track and store all of your documents for you