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Buying & Selling Real Estate

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Noah Gouldsmith
  • Wholesaler
  • Kansas City, MO
7
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10
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How would you capitalize on this opportunity?

Noah Gouldsmith
  • Wholesaler
  • Kansas City, MO
Posted Jul 8 2019, 14:54

Hi Bigger Pockets, I am an acrobat with a broadway touring musical. I just joined back up with my tour after being off with an injury (torn hamstring) for three months. During my time off, I didn’t want my trajectory to alter and I decided to dive into real estate investing head first. I listened to hundreds of bigger pockets podcasts, read as many books as I could that we’re recommended, went to one meetup a week and networked a ton in Kansas City, where I’m from. I bought a house that is currently being flipped and have another house under contract. I’m obsessed. The tour that I just joined back up with (Miss Saigon National tour) is in a new city each week, sometimes longer than a week. My question is: How would you leverage/capitalize on getting to explore all of these new markets? My plan is to network, go to meetups and continue to learn as much as possible. I also thought about using this opportunity to promote the Kansas City market to out of state investors. But is there anything else I’m not thinking of? I would like to make the most of this opportunity. I will continue to invest in Kansas City while on the road. My tour lasts for the next year and I will be looking for people to meet and network with all across the country. Right now I’m in San Diego, and will be in Los Angeles starting next week for a month. Let me know what you think and if you think that we could help each other! I am goal oriented and very serious about this endeavor. Thanks and all the best, Noah Gouldsmith

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Mike Dymski
Pro Member
#5 Investor Mindset Contributor
  • Investor
  • Greenville, SC
12,535
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4,712
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Mike Dymski
Pro Member
#5 Investor Mindset Contributor
  • Investor
  • Greenville, SC
Replied Jul 8 2019, 14:58

It's a good opportunity to vet and source markets but I'd recommend focusing on only one or a of couple markets when starting.  It's hard and inefficient to build teams in numerous markets.

User Stats

10
Posts
7
Votes
Noah Gouldsmith
  • Wholesaler
  • Kansas City, MO
7
Votes |
10
Posts
Noah Gouldsmith
  • Wholesaler
  • Kansas City, MO
Replied Jul 8 2019, 15:09

@Mike Dymski

Hey Mike, thanks for the reply. Kansas City is my sole market, I should have made that clear. I will be away for a year and curious how I could capitalize while physically being in other markets.

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242
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233
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Jason Graves
  • Rental Property Investor
  • San Diego, CA
233
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242
Posts
Jason Graves
  • Rental Property Investor
  • San Diego, CA
Replied Jul 8 2019, 18:46

@Noah Gouldsmith

I also live in SD and invest in KS Mo.

I’m interested in talking to you about a college house hack where you live onsite and we Convert a house to student housing. I house becomes a 10 plex.

I have $250-500k in cash to invest.

I have been in this market for 18 months and have done well.

J

User Stats

722
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386
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John Corey
  • London
386
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722
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John Corey
  • London
Replied Jul 9 2019, 03:00

Love the passion Noah.

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2,622
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4,225
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Shiloh Lundahl
Pro Member
  • Rental Property Investor
  • Gilbert, AZ
4,225
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2,622
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Shiloh Lundahl
Pro Member
  • Rental Property Investor
  • Gilbert, AZ
Replied Jul 9 2019, 05:39

@Jason Graves that is funny that you bring up the topic of converting 1 house into a college house hack. I am just at the beginning of this. I just got under contract to purchase a home in Gilbert, Arizona that I have been looking at over the past 2 months. The house is about 4600 sq ft and it has 6 bedrooms (7 if you add a stand alone closet from IKEA in the office). This house would be for my family but my wife and kids can’t move into it for a year, so I was going to move into the master bedroom and I was going to rent out the other rooms to college students at $450 - $650 (depending on if it’s a single room or shared room) plus $50 for utilities. I think that I could get the mortgage covered by doing that for a year and it wouldn’t get too crazy with me living there and watching over the place.

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26
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3
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Michael Oliveira
  • San Marcos, CA
3
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26
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Michael Oliveira
  • San Marcos, CA
Replied Jul 9 2019, 08:56

@Shiloh Lundahl I was on the tenant side of a college house hack and found the experience to be great. I was a Ph.D. student at the time and the owner gave myself and a couple other graduate students a great deal on rent given we make next to nothing. I stayed there for four years before graduating and moving on. The house was in great shape the entire time I was there. I think the combination of the owner living in the house and the target tenants being graduate students help reduce the risk of things getting out of hand. I can't speak to whether he was covering his mortgage or not but the three occupied bedrooms brought in ~$1400/mo in rent alone.

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664
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231
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Bruce May
  • Lender
  • San Diego, CA
231
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664
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Bruce May
  • Lender
  • San Diego, CA
Replied Jul 10 2019, 12:34

Noah, maybe your travels will be a great way to meet other investors who might be interested in partnering with you on your Kansas City projects. I seem to regularly run into people who want to word outside California.

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242
Posts
233
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Jason Graves
  • Rental Property Investor
  • San Diego, CA
233
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242
Posts
Jason Graves
  • Rental Property Investor
  • San Diego, CA
Replied Jul 13 2019, 23:34

@Noah Gouldsmith

Let me know if your performing in San Diego. I will bring my daughter

I like your Gilbert Az college hack. I just made an investment in the Phoenix market...

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9
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4
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Jody Bowen
  • Rental Property Investor
  • Florida
4
Votes |
9
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Jody Bowen
  • Rental Property Investor
  • Florida
Replied Jul 14 2019, 10:58

@Jason Graves

Love visiting the San Diego area. Planning a trip with the family there soon.  What type of investment did you make in the Phoenix market?