Los Angeles, CA · Member since 2017 · 2 posts · 1 vote
Hi all,
My name is Inayatullah Nasib and I go by Ian. I have always been interested in real estate investing but never took the chance. I believe this is the right time for me to get involved in something I'm truly passionate about. My professional career has been in accounting/finance/consulting. I love looking at different deals and analyzing them. I am interested in investing in multifamily apartments outside Los Angeles. The main area I am interested in investing is the Phoenix metro area due to its proximity to Los Angeles. Also interested in the Tampa/St Pete, Orlando, Jacksonville, Houston, and Virginia Beach/Norfolk markets. Anyways, just wanted to introduce myself and hope to get to know a lot of you here.
Hi Ian and welcome! I may be able to assist on new construction small multi family in the Houston metro. I've helped many from Southern California put their money to work out of state. PM me if you'd like more info. Good luck!
The markets you're looking at look great for cashflow plus appreciation. Central Florida is my market of choice even though I live in Los Angeles, like you.
Investing out of state is scary the first few times but well worth it based on the outrageous numbers in CA.
In fact, I'm working with other Angelenos now that are looking in Tampa/Orlando. If I can help in anyway, let me know!
Hi @Account Closed and welcome to BP! I think you will find that JAX is mostly a SFR market vs small MF. Be cautious of where (neighborhoods) you invest.
My name is Inayatullah Nasib and I go by Ian. I have always been interested in real estate investing but never took the chance. I believe this is the right time for me to get involved in something I'm truly passionate about. My professional career has been in accounting/finance/consulting. I love looking at different deals and analyzing them. I am interested in investing in multifamily apartments outside Los Angeles. The main area I am interested in investing is the Phoenix metro area due to its proximity to Los Angeles. Also interested in the Tampa/St Pete, Orlando, Jacksonville, Houston, and Virginia Beach/Norfolk markets. Anyways, just wanted to introduce myself and hope to get to know a lot of you here.
Hi Ian, I'm also looking at multi-families out of state, Central Florida and Houston being a couple of those areas. The numbers seem to make more sense. Are you considering 5+ unit properties or 2-4 unit?
Welcome to BP. I'm in L.A as well . I definitely know what you mean about the numbers making more sense out of state. Of the places you mentioned I have bought property in Houston and Jacksonville. I agree with @Larry Fried that Jacksonville,FL is mostly a SFH market.
I haven't looked at Phoenix much recently, I remember seeing REO bank owned homes being dumped on the market in large quantity daily back during the housing crash years lot's of homes under $30,000...those days are gone of course.
Good morning, Ian. The Arizona market has been very good for investors - we work with a lot of them in helping find and design from financing options that maximize their cash flow. We would be honored if you'd allow us to help you, too.
Congrats on decideing to invest in real estate .. it can be very rewarding if you can avoid most of the pitfalls .. my advice would be to try to find a mentor in the field your looking to invest in. Also, when investing in out of state / out of the area properties , it is important and pretty kuch a necessity that you find a boots on the ground type of person that can look out for your best interests. Im nit talking about a real estate agent ( although there are a couple that could step into that role and be able separate their interests from yours )
Getting advice from seasoned professionals on here is such a valuable resource but, it doesn't work in real time for the most part .. when deals come your way sometimes you cant wait a day or even 6 hrs to make decisions if you dont want to miss a great deal .. this doesnt always happen and really you should refrain from making those decisions for quite some time .. or at least until you have more experiance investing ..
A boots on the ground person can help you make informed decidions about the neighborhood, condition of property and should even be able to help you with the value of it .. matter of fact if they cant then they are not the right boots on the ground for you ..
They should be able to provide video's and pic's of potential properties .. give you weekley reports if the property on any rehab needing to be done .. They might even be able to help with finding a property manager .. in short .. they should be your eyes and ears for you ..
I certainly agree that Tampa, Orlando, Ocala.. and surrounding smaller city's are all great places to invest ..
Thank you everyone for your input. I truly appreciate it.
@Nathan Yee I am definitely looking at 5+ unit properties. Maybe somewhere between 16-30 units. My first choice is actually Phoenix due to it's proximity to California. I am definitely still considering Central Florida and Houston. In fact, I am going to visit Central Florida at the end of month to scope out the area.
Please don't hesitate to reach out to me in case anyone has any comments or questions.
Some great reasons to invest in Houston area for both SF & MF properties due to job and population growth. And Houston has the lowest cost of entry of any major city in the nation and something other cities can't offer, critical mass!
You can read about Houston's economy and the dynamic effect it is having on real estate investing in this blog: