BiggerPockets

All real estate is local, so the question won't really have any great answers. There are hundreds of markets that will do well for cash flow investing, and they are in all 50 states.

As you're already investing in 4 states, why are you looking to diffuse your investments even more? Are the markets that you're already in not doing well?

That is an unusual goal, and a poor business choice. If you have money to throw away, give it to me. If you are making money and have a good team in one place, keep investing there. It is very difficult to build a new team and know the rules and areas in all of these states.

I don't believe the responses I get on this forum, what a waste of my time. I have asked two questions and all I mostly get are smart a$$ responses, what the hey? I belong to several forums, coin collecting, metal detecting, online gaming, precious metal detecting, etc.... and whenever I ask a question, I get a courteous and helpful answer.

Let me add this. I have 10 rental units in the Fresno, CA area. I have 10 rental units in the LA/Orange/Riverside County area of California. I have 33 units in Texas. I own a duplex in Colorado and one house in Virginia (strange story on that one). I have been investing since the 1970s (divorce cost me about half my properties). The last property I bought was in Fort Worth, Texas. I make a profit on it, but the Property Taxes in Texas are just taking too much of my cash flow. So now I am looking to see if there is a better return in other states. I was a Realtor for many years but left the industry in 1997 so I am not up on what is a good area to start looking for investments.

So I thought I would start researching and asking questions on Online Real Estate Investing Forums. But it appears that folks on this forum do not really want to help, everyone seems to be out for themselves. There are other forums that I will pursue, I apologize if I have wasted any of your precious time.

Mike -

With all of your investing successes so far, surely you've got thick skin. I've gone through the thread 3 times now and don't see how you've concluded that the members of the site are selfish by their responses to you.

As someone with units in many different markets, surely you know, as Amy said, that properties in one part of a state or even a town will cash-flow differently than properties just a few miles away. Perhaps if you refined the question you'd get better answers?

Finally, if you're looking for a place where people will just pat you on the back and encourage you to make decisions that they feel unwise, then perhaps this isn't the place for you. One of the reasons our site has been so successful is that the community works hard to protect one another from making bad choices. It seems like that is the case here.

But it appears that folks on this forum do not really want to help, everyone seems to be out for themselves. There are other forums that I will pursue, I apologize if I have wasted any of your precious time.

Mike - you're absolutely right. The people here don't want to help and are downright selfish. I wholeheartedly agree with you that buying a rental in every state is a great idea. That certainly gives you the maximum control over your investments, as you'll be close to your rentals when there are problems (at least you're in the same country). Having your rentals scattered will also allow you to find a great manager who will be able to manage all your properties (NOT!). Rentals in every state means that it will be easy to keep up with local conditions and laws (all 50 of them). C'mon!

Let's get real here. Your goal is ridiculous and a certain path to financial ruin. If you want to succeed, become an expert in a few key markets and build your business. When your business gets large enough that you need to expand, then consider moving to additional states. Intentionally scattering your business over 50 states just for the sake of doing so is a very poor plan. It might make for interesting conversation at a party, but it's simply crazy from a business standpoint.

You got excellent advice from those that commented. The problem here is that you don't like the answers.

Mike

MIke M,

Perhaps your original post was not written so that others 100% understand your intentions/future goals. Be that as it may, not EVERYONE here is as blunt as MIKEOH or sarcastic as others.

All that said, you do need to have a bit thicker skin in the RE investing world as I am sure you would know. My feeling from your post is that your eventual goal is to own so much RE, you have some in every state, not necessarily spreading your portfolio in each state right off the bat. Either way, several others here believe that to not be the best investing strategy. I would agree.

Josh stated that every state has a cash flowing market. I would say that is not entirely true as CA surley did not if you bought in 2004-2006 (as an example).

I love TX investing. While the prop. taxes are higher, the rents to acquisitions make up for that and I feel TX is a great cash flow state. Not only that, TX has several cities that rank in the top 10 in the COUNTRY for growth!

I also believe NC to be a good cash flow state. You can also obtain cash flow in many cities in OH, MI, etc. but I don't like to invest in many of these areas as I don't want to deal with the daily crap that MikeOH deals with in his biz (DISCLAIMER: not knocking his biz at all, just not my biz model)

I think you are better served to find the very best cash flow markets in the best states, and hit them as hard as you can for maximum growth and cash flow potentials. That is my biz model and diversifying into severaol or all states really is not the best strategy in my humble opinion.

Hope you stick around as this site really is the best for learning the ropes and for expereinced investors such as yourself to educate and help others.

Best regards,

Will B

Never try to make someone think for themselves when all they want is to be told what to do. If he doesn't like the "smart a$$ responses" he got on this forum, let him to somewhere where some "dumba$$ will list off a number of places for him to throw his money away.

hahaha, i love starting my day reading MikeOHs posts. I'm always laughing....thanks MikeOH, you are my guru!

Nationwide, I am working with a Dallas Broker at the moment, I have had good returns there. I am also in contact with a California Broker, a North Carolina Broker and checking my neck of the woods here in Colorado.

Karen, don't trip over your little sand castle in your little sand box.

As for having a thick skin, back when I ran a Real Estate Brokerage, my agents called me "The King of Stress" for how I handled all the stress. I have been through a 2 year old drowning in a pool of a home I managed. I have been through a husband murdering a wife while we had their house under contract. I have had to open a rental for the DEA to do a Raid. Houses in escrow burning down. Sat in the driveway of a home under escrow, with gun in hand, as carloads of gang members drove by, taunting me. I have been through more stress than anyone on this board can imagine. Watching my brother die of Leukemia. Having to live in my car. Watching my mother fight Breast Cancer. And much, MUCH worse.

So, let me rephrase my question. During this year of our Lord, 2009, which areas of the United States, whether state, city, or neighborhood, are we as real estate investors, seeing as being a good area to make a new investment for cash flow purposes as opposed to appreciation? It would be assanine to put all your eggs in one basket, just ask folks who invested heavily in Phoenix, or Las Vegas, or Denver, or Silicon Valley, or Orange County in 1995-2005.

If you all want to have a smart a$$ exchange, I can hang with you all day long. But at the moment, I need to finish a 1031. Most likely it will be in the Dallas/Forth Worth area since I already have Brokers and Management in place. I was just hoping to look at a few other options, if it isn't asking you to stretch your brain too far!!