All Forum Posts by: Aaron Gowin

@Dallas Jacobsen  ,

My wife and I just put our home under contract to sell in Kent and are taking the proceeds to throw in to investment properties. We have found the same thing as you with values in the market and through our search we are debating between doing something in Indiana or a local multifamily in a suburb. 

The returns in the Indianapolis market look promising for cashflow, but I am not as enthusiastic about potential appreciation. Where in Texas were you thinking? Any interesting finds as you've done your research?

Originally posted by @Ali Boone:

It's all about the team you work with. Indy isn't my favorite market right now, but it is still good, but it also has my favorite team right now. And I'll take the best team over the best market any day. But it really is a good market....you aren't missing anything!

 Is your team made up of friends or past colleagues? If not how did you build your team?

Thanks everyone for the info. Very helpful.

I am a newer investor from Seattle looking into investing in Indy. Once I sell my current home In June/July I will have a good sum of capital to play with. Do any out of state investors have some good advice on their experiences in Indy? I am seeing properties with much better returns than out here in Seattle and have a local friend giving me info on areas, but I'm just concerned I'm missing something. Any tips?

Originally posted by @Lane Kawaoka:

I don't like college rentals simply because everyone who went to college (many rei investors) say hey I want to have a college rental for what ever reason (nostalgia). These are what unsophisticated investors do and it's best to stay away from these folks because they ruin it for everyone by running their business like a hobby. That said you might be able to buy one distressed from them.

So you are saying that in your experience that many "investors" in College towns who are not savvy and rent out for numbers that don't generate a good return on investment? Then, in turn, they lower what the market rental rates are for everyone else? 

Thanks for the insight. Definitely dealing with a different type of tenant when they haven't had to live on there own yet. Also, the numbers seem to get interesting since you should expect at least a 25% vacancy rate annually. 

I flip flop on this idea because I like the ability to drive to see the rentals when they become vacant, but at 2 hours away, is there that much of a benefit when there are potentially better opportunities in other states for longer term tenants? A lot of thoughts twirling around the brain.

My wife and I are prepping our home for sale and are looking to move the capital from the sale into some rental investments. We live near Seattle where we are having trouble finding properties with numbers we like. We have started looking farther out of the area we live in for other investment opportunities. 

Does anyone have any experience or advice in regards to investment properties in college towns like Ellensburg Washington, zip code 98926? They are a college town with not many other towns around them. They have a population of about 18,000 persons. We see some properties with numbers that seem to be promising, but renting to students and having to do shorter term leases seems like it might not lead to the greatest self sustaining business. Any thoughts?

Originally posted by @Steve Wynne:

welcome aboard!  There is a wealth of information in podcasts and books.  I know that I have learned so much but still have so much left to learn too.  It sounds to me like you are taking action too which will accelerate your learning curve for sure!  Try not to get overwhelmed by the problems that present themselves and take things one step at a time.  I wish you well!

 Thanks Steve,

I see you have started out with multi family homes, something my wife and I are looking hard at. Any tips or interesting tidbits from your experiences? 

Aaron

Hello Everyone,

My name is Aaron. I live in Kent, Washington. My wife and I are getting serious about getting in to real estate investing. I am addicted to the podcasts and have started reading/educating myself with any spare time I can manage.

My wife and I are currently rehabbing our primary residence to sell it and gain some capital to make a good run at this. We currently have a small rental that does not cash flow that we will be moving in to it after we sell our home. We then are planning on looking for either single or low multi family homes to invest in and hold. We may even move in to a multi family to get started and then move on from there. We have already started looking in South King County. Our plan is to be flexible and ready to pounce when we find something.

My wife is an HR Manager who also holds a real estate license and has done some agency work. I work in the Maritime Industry along with being a Coast Guard Reservist. 

Thanks to everyone who participates in the podcasts and forums. They all have been great educational tools.