Rookie Reply- Cashflowing and Long Distance - Let's Discuss!
Check out the episode HERE.
What happens when you take what someone else is afraid of and make it your niche? You might just become unstoppable like @Ashley Hamilton! She discusses how she made her home city of Detroit, Michigan into a land of opportunity and a chance to bring something better to her community. What could be better than that! @Ashley Kehr and @Tony Robinson get down to business discussing with our Rookie Reply Live from BPCON 2022.
They discuss long distance investing, getting creative, the great cashflow vs appreciation debate, and how to focus on your tenant when acquiring and rehabbing properties. Ashley has a 4 step evaluation process, how do you analyze a property in an unknown market? How have you had to get creative to meet your investing goals? Have you found deals on the MLS? What other thoughts did you have on this episode?
Let's get talking!
I love how @Ashley Hamilton is promoting equitable housing, thinking of the people living in the properties as their homes, rather than just her bottom line, and taking on the (wrongly) stigmatized niche of Section 8 real estate. It's my hope to do a version of this in the future and Ashley is setting an example of how to do it and still be successful.
Love her 4 step process to analyze deals. Super helpful!
Here in Denver it's definitely a different market and getting creative with STR, creative financing, good exit strategies, house hacking, flipping/adding value is how we get creative to make the market work here! Definitely can find opportunities on the MLS!
I definitely agree with you that dignity in housing is an important matter. Having someplace you feel is home that is safe and managed respectfully should be the norm. Unfortunately it is not. I am going through this with a current property that the PM failed to communicate had issues. I sensed something was up and let him go. The photos I got from the new PM infuriated me because my name was attached to something I would not rent to someone else. We are doing a lot of damage control due to this, and it makes me angry that I feel he took advantage of my Section 8 tenants.
@Alicia Marks I am going through this same thing, with finding a new PM. My first PM said a house was in great livable condition and then after the tenants sent a certified letter to the county and started a Rent Mediation situation they did a full inspection and gave me a long list of items and said fix it. Bad PM has made for a real bad time and with our names on it we are not happy! Hard part about OOS investing is I think this PM thought they could take advantage of me.
Quote from @Cliff Benner:
@Alicia Marks I am going through this same thing, with finding a new PM. My first PM said a house was in great livable condition and then after the tenants sent a certified letter to the county and started a Rent Mediation situation they did a full inspection and gave me a long list of items and said fix it. Bad PM has made for a real bad time and with our names on it we are not happy! Hard part about OOS investing is I think this PM thought they could take advantage of me.
Where was the property? Where did you find the PM? I definitely think this is a great ongoing discussion for OOS investors.
Quote from @Alicia Marks:
Quote from @Cliff Benner:
@Alicia Marks I am going through this same thing, with finding a new PM. My first PM said a house was in great livable condition and then after the tenants sent a certified letter to the county and started a Rent Mediation situation they did a full inspection and gave me a long list of items and said fix it. Bad PM has made for a real bad time and with our names on it we are not happy! Hard part about OOS investing is I think this PM thought they could take advantage of me.
Where was the property? Where did you find the PM? I definitely think this is a great ongoing discussion for OOS investors.
It is in Dayton Ohio and we found them through Google, they had good reviews online. They sounded good in the interview. I agree it seems like it is one of the harder aspects of OOS investing!
@Alicia Markshi
Hello I would like to ask if you have ever heard about ground level investing
Quote from @Chris Chaffee:
@Alicia Markshi
Hello I would like to ask if you have ever heard about ground level investing
Yes, what aspect are you looking into?
Quote from @Alicia Marks:
Quote from @Chris Chaffee:
@Alicia Markshi
Hello I would like to ask if you have ever heard about ground level investing
Yes, what aspect are you looking into?
I’m looking to get into out of sate investing for a passive income and I was informed about ground level investing as a way of starting so I could build money for a down on my first property for my self