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Mentor
Off topic: I am stuck in a service based company for last 4 years in a shitty project. The work I do can be done by a 12th grader. Now i want to move out by learning something new & changing my domain. But the thing is I am not able to study because I am stuck in a comfort zone and learning new thing gives me bad anxiety. It feels like I will never learn & be forever stuck here. Pls help on how to come out of comfort zone, learn things and apply for the job. Tata Consultancy Infosys Wipro
soo my sleep schedule is effed up, i keep trying to wake up early-ish (7am) but i’m lacking motivation and i wake up tired 😴
i stumbled upon this article that talked about this book. we always hear about the “secret” of strong leaders is that they wake up early. has anyone read this/tried it out?
5 AM Club, The: Own Your Morning. Elevate Your Life. https://www.amazon.com/dp/1443460710/ref=cm_sw_r_cp_api_i_n2GdFbJJEFKSN
What’s the culture like at FTI Consulting?
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Any thoughts on this book?
Mentor
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Honest answer? Invest in LCOL/MCOL markets and have a property manager. I did it for several years. Very profitable.
Lcol/mcol are the areas seeing depreciation as people return to office and demand falls
My long term rentals made some cash flow but not a lot (CT and MA) but my STR rental in MA nets over $100k/year. My secret sauce there was buying beachfront property before COVID and then getting COVID refinance rates.
You’re crushing it, that’s awesome!
Subject Expert
By not investing in tier 1 / blue cities. Also, Texas is notoriously hard to cashflow in due to the high property taxes, unless you get into multi-family.
Red / Midwest states are your friend. They also tend to be much more landlord friendly states in case you end up with a bad tenant.
PM1 is right. Red/Midwest is where property values are dropping the fastest and the least likely to hold value, so you are much more likely to find lower prices
Gotta have a smaller loan. Come heavy with cash.
Whats lcol and mcol
Which cities??
In Austin with many rentals. Very tough with the crazy price acceleration and associated tax increases. My properties were all cash flow positive. The insane property tax increases have killed some of the cash flow. I had one property where the tax per month increased $1,000 (on top of what I was already paying !!!!).
Big part of Austin real estate has been value appreciation. I’ve made tons of money on increased value, at the expense of my monthly cash flow. I’ve sold a couple but trying to trying balance selling in a bit of a down market.
My rentals make about 500-1200. Month depending on annoying repairs. But I’m also getting equity and the house was real raised for 1.8x I bought it for. Granted more like 1.5x including all the repairs
Bought I’m Philly in 2020 - 410k + 80k in repairs. All in monthly payment is 2170 and it’s 2 unit building that I’m currently renting out both units at 3500 total. But the 2k apt was vacant for two months so I was floating the mortgage 750 the last two months, just got it rented out.
Trying to find new tenants for a jan 1 move in daTe was impossible lol
Can i ask how much yall bought the investment properties for
Coach
My first long term rental was $215k and then we rented out a house we used as a primary for a number of year that we bought at $350k. We eventually sold those and our STRs were $1.55m and $1.875m. The second one is just launching next month.
In austin. 6 total properties - not worth it anymore IMO. CF is fine cause I got in low, but starting now would be too tricky.
Will continue to use rents to pay for holding costs - money will get made on value when selling.
The key to consistent cashflow is the deal. If you’re buying properties retail, no you’re not going to cashflow for a long time. However, if you’re getting deals think flips, brrrr, new construction, etc. where there’s a ton of equity and value that you’re adding, then you can cashflow pretty easily. I do not buy retail houses. I look for diamonds in the rough or areas where nobody wants, build, flip to hold and then a few years later value skyrockets. Boom cash out refi and reinvest again
Austin is one of the most overpriced and saturated real estate market
Larger down payment