All Forum Posts by: Adrienne Green

Hi @Mitchell McKinney! Welcome to the world of real estate investing. Quick note about multi-families: they're non-existent in the DMV region. So that plan isn't going to happen locally. 

I have purchased cash flow positive investment in the region by getting condos with reasonable condo association fees. They have been decent investments for me.

I also now invest out of the area, as the returns are better in other areas. As Russell notes NOVA is a safe investment area, but I want higher return (and more approachable purchase prices). I actually moved from NOVA to Chattanooga, TN and now help out of town investors (including many from NOVA) invest here. Reach out if you'd like to talk!

Hi @Laura MacDonald! What about fix and flip first to build your investable cash? If you don't look good on a tax return, I'm assuming paying short term capital gains for a flip wouldn't hurt too much.

Then use the money you've made to get into buy and hold rentals that get you your cashflow and appreciation.

If you're interested in the Chattanooga market, let's talk. It's on fire (double digit appreciation last year) and many vendors here are used to working with out of town investors. I'm happy to connect you with contractors for flips who regularly work with remote owners.

Hi @Maya German! You're getting a lot of great thoughts here. I think @Cody L.'s point of "it depends" is spot on- real estate investing is not a one size fits all approach, the best plan for each person is unique to them.

Personally, I'm seeing a lot of investors from California and other similarly high priced areas investing as out of town investors elsewhere. There are markets such as where I am in Chattanooga TN where out of town investing is so big, there are plenty of vendors to make it easy. I know contractors and property managers that cater to out of town investors. Feel free to reach out if you'd like to learn more!

@Tanecia Canady and @Johnny Lynum sorry I didn't see your posts until now- PMing you each the link now.

@Robert C. you got it!  I'll PM you the link now. The meeting is this Thursday, I hope you can make it!

@Sachin Amin I'm sorry to hear that! I would be very frustrated to have that happen. 

@Sachin Amin Here's hoping the new tenant you get is fabulous and stays a good long time!

@Sachin Amin Thanks for sharing your experience here! What about the cost of turnaround time between tenants, too? I assume that's on top of the $1-1.50/sq. ft. you note for property repair/fixing up. 

And what are you getting as your typical total length of tenant tenure? If you have tenants leaving after a year, between the costs you cite and unrented time, you could have no profit!

Thanks again for your sharing, it's always helpful to see someone else's numbers! And as you note, the pro formas can often leave these "pesky little details" out. 

Check out LaRossa Construction, owner is Ross Paller. He specializes in working with out of town investors. Very communicative, and a nice guy.

I've been speaking with Ross recently, he seems like a good guy.