All Forum Posts by: Alan Grobmeier

I think, generally speaking, it depends on where you are moving FROM.  The ppl in NorCal will gravitate to Fresno, SoCal to Bakersfield.  

@Sarah Ferguson, I think it depends on your appetite for risk. I just purchased a SFR in Maricopa that is doing quite well. My other properties are in Chandler & Gilbert, all in awesome school districts.

Chandler/Gilbert 'starter' properties are 250k-300k and don't cashflow well.

I was able to find a good property in Maricopa for under 200k.  I think Maricopa is close to the last affordable area in the valley.  And is in the way of progress.  I believe appreciation should be sound for this area.  

It has taken me a little longer to fill the Maricopa property with a good renter, but I think it's all going to work out fine.

My FWIW on OOS:  Don't do it.  You will be a 'net loser' when you factor in PM, travel, the fact someone else is picking your tenants, etc.  You are better off looking a little further drive away from home vs OOS.

Alan

@Noah P Bonds, probably not.  What you are basically asking is:  Is it ok to lie to the IRS.  That answer is 'not only no, but hell no'.  ;-)

If you are using schedule E for your rentals, you will need to claim the income & expenses on a per property basis.  Not a per unit basis.  Transferring income & expenses, especially to avoid taxes, is 'frowned' upon at the IRS.  

In any event, I would find a CPA if I were you.  He will keep you on the straight & narrow and out of the bullseye of the IRS.  ;-)

Hope that helps.  

@Tony Kim, it’s the time of year.  I just bought a property, mid-December, have had lots of ‘bites’.  I marketed it $100 a month under market.

I’ve had about 50+ Zillow ‘hits’.  When I respond, I get ghosted.  I’ve had 2 open houses as I will not ever do private showings.  They are a waste of time.

I just modified my craigslist ad, offering a $250 gift card if someone rents it starting 1/1.  I’m thinking I will be lucky to get it rented on 2/1.

Welcome to winter/holidays.  Btw, I’m in Phoenix!  Lol

@Cyndy Lester, you are better off looking at a small town near you vs Ohio, imho.  Unless you pay all cash, the pm will probably make more than you.  ;-)

The ‘best’ way is for the parent to pass away.  Could be a gift tax problem.  Cpa, cpa, cpa.  ;-)

@Andrey Y., not very well.  Lol.  The real question is why.  We got the meltdown of 2008.  But stuff didn’t continue to meltdown afterwards.

There is NOW more cash in the system as ever.  My belief is that we will see a slow & long recession as the baby boomers retire.  Everyone, or almost everyone, is ready for a recession/deflation this time.

@Nat Rojas, price solves everything!  Lower your price.  With it empty you are losing your a$$.

@Account Closed, which one got you?  There are so many.  ;-)

@Alora Glaze, I am somewhat surprised that you did not address the initial review.  USUALLY there are 2 (or 3) sides to every story.  The fact that you did not see it valuable to post Bildwise's side would be very concerning to me if I was considering your company.

Most companies don't like 'bad press'.  If the initial review/post is spot on, ppl should RUN from you.