Novato, CA · Member since 2015 · 9 posts · 3 votes
Hi Everyone,
I've been a member for a little while, but have mostly done used it for learning up until this point, but am getting to the point where I want to be more active and am working towards my first buy and hold investment. House prices have skyrocketed where I live, since we bought in 2011, so we will be looking likely out of state for our first, and will probably be going the turnkey route. Been doing a lot of research on different companies and markets and am trying to do a little more due diligence to narrow down to exactly who we want to go with. Really liking the Dallas and Houston markets, but also considering Kansas City, MO and possibly Indianapolis. Will be definitely be making a trip once we narrow it down. Any advice from people with experience in the above markets, or companies within those markets is greatly appreciated. Thanks,
Blue Springs, MO · Member since 2015 · 45 posts · 15 votes
10y
Hello Brett,
For the Kansas City market ~ contact Chris Dawson @ 816-392-9955 with Arrow Realty. He's full of knowledge on the market and will definitely point you in the right direction!
I too, have the same problem, living in California and decided to invest out of state. I recently flew out to Kansas City and Ohio to do my own due diligence. Feel free to message me if you'd like any feedback or help.
Turn key provider · San Jose, CA · Member since 2010 · 4k+ posts · 3k+ votes
10y
@Brett AhernDallas and Houston are very different markets than Kansas City and Indianapolis. If you're objective is cash flow, I think Indy and KC are a great choice. Although Dallas and Houston have great economies, they also have some of the highest property taxes and homeowners insurance rates in the country which really eats in to your cash flow. We sell turn key properties in both Kansas City and Indianapolis so I know the markets well. Feel free to reach out if you'd like to know more about either. I did a presentation on investing out of state and compared the economic and demographic factors of several markets. I'll be happy to send you a link to the presentation if you'd like.
I've been a member for a little while, but have mostly done used it for learning up until this point, but am getting to the point where I want to be more active and am working towards my first buy and hold investment. House prices have skyrocketed where I live, since we bought in 2011, so we will be looking likely out of state for our first, and will probably be going the turnkey route. Been doing a lot of research on different companies and markets and am trying to do a little more due diligence to narrow down to exactly who we want to go with. Really liking the Dallas and Houston markets, but also considering Kansas City, MO and possibly Indianapolis. Will be definitely be making a trip once we narrow it down. Any advice from people with experience in the above markets, or companies within those markets is greatly appreciated. Thanks,
Brett Ahern
Hello and welcome! I am from Dallas and I am 59 years old. If there is any thing I can help you with just let me know. I have been in the construction business my whole life and I have had a broker licens since 1980. Good luck to you and I wish the best for you!
Novato, CA · Member since 2015 · 9 posts · 3 votes
10y
Thank you Alicia, Christopher, Gordon, Mike and Montana for your replies. I appreciate the offers and insight. I'll definitely take you up on your offers and reaching out for more info. I greatly appreciate it. Haven't looked into Florida to much, but I'll definitely check it out. Definitely understand there are some big differences with kc, Indy and the Texas cities, but there are different aspects I like to the different areas. Being new at this I am still working in what is most important to me, not to mention most secure for my family.
If you are going to look into TK's then I strongly suggest that you look for a TK company that has a qualified PM- Property Management company. Not all do, even though they like to play as if they do. This, in my opinion, will be your key piece. I don't care what city you're buying in, without a great PM you might as well just take a flame to your money and burn it. All PM's have problems, you want to find the one that has the least amount of problems.
You may also want to check out Turnkey-Review website. It will give you a good reference point for TK providers.
http://turnkey-reviews.com
If you are looking into the Indianapolis area then I suggest you reach out to @Account Closed. Joey is an out of state investor, who has done extensive research into the Indy market.
@Mike D'Arrigo is another good source of information and I would be more then happy to answer any questions that you might have. Feel free to reach out to me.
Rental Property Investor · Indianapolis, IN · Member since 2014 · 554 posts · 153 votes
10y
@Brett Ahernwelcome to the site it is a very resourceful tool.
Goal wise are you looking to capture more appreciation or cash-flow?
I buy&hold in Indianapolis where you can earn double digit returns. If you decide to take on the TK route then it is crucial in finding a trusted provider who has a property management company of their own.
Registered Nurse (ICU) · San Jose, CA · Member since 2014 · 496 posts · 332 votes
10y
@Account Closed feel free to PM me to connect. I am more than happy to help others just like Steve Helped me over a year ago. I'm all about "paying it forward." Thier is a lot to know on this kind of investing and you can easily make mistakes that will cost you in the future.
Real Estate Investor · Sunny Isles Beach, FL · Member since 2013 · 788 posts · 333 votes
10y
@Brett Ahern definitely don't overlook the Sunshine State! Florida got hit pretty hard in the housing crisis, so there has been a ton of foreclosures, and still many more on the way. Not only does this mean cheaper prices, but also tons more people looking to rent. I can't speak to Orlando, but South Florida (Miami-Dade, Fort Lauderdale, Palm Beach) is a great market for rentals...I've heard Jacksonville is amazing as well, but don't have any personal experience there.
Novato, CA · Member since 2015 · 9 posts · 3 votes
10y
@Lucas Machado I'll definitely dig a little deeper into FL to find out more. I've heard a lot about Jacksonville, but have barely scratched the surface on my research into it. Thanks for the the recommendation.
Novato, CA · Member since 2015 · 9 posts · 3 votes
10y
@William Cavalier too funny, I am actually 2nd generation Novato, and moved back here in about 2008. Definitely would appreciate any insight or suggestions if you're willing. Still in the due diligence phase and trying to find the right area(s) to look at (as I'm sure you can tell from my original post). I'll send you a connect request. Thanks!
Welcome to BP, do a lot of research and ask a lot of questions before making your decision.. Also try to invest close to home first if possible it helps you learn the real wild world of REI. The good, the bad, the ugly LOL!!! If you have any questions just PM me.