All Forum Posts by: Aristotle Kumpis

I have 26-total units for sale in Memphis. Is there anyone looking for multi family apartments in the Memphis market? 

I have a few CPA's that I could recommend. However if you are looking for them to prepare your 2024 returns, they are too busy right now. 

Hi Vince. You are correct by saying that you have missed opportunities by being too cautious. Many people don't buy because they are concerned about this and that. Rates are too high. Prices are too high. Fear of a recession etc. Remember the famous quote from Robert Allen: "Don't wait to buy real estate. Buy real estate and wait." That has always resonated with me. And you will keep missing deals if you don't take action.

The one thing to consider is that IL and NY are both not landlord friendly states. So if you are looking to hold long term, you must take that into consideration. Make sure you do your due diligence on that before you invest. 

Hi Nageswar. I know of a good agent that works with investors in the Bay area. I believe she has access to off market homes too. Is your condo a rental property?

Hi Brian. You should consider forming an LLC if you haven't already. This will allow pass through taxation, so you can use the expenses against your personal tax returns. But I'm not an accountant, so you will need to talk with a professional.

I would recommend buying new construction or turnkey properties. I have a lot of clients that simply do not have the time to deal with their properties. So buying something that is more hands off is a better choice. Short term rentals are not as good anymore. A lot of competition and regulations to deal with. The long term buy and hold approach never gets old and is still a great way to go. I'd also stay away from the low priced properties that look too good to be true. You will make more money from appreciation than cash flow. So try to stay in markets that have high job and population growth.

I have a few rentals with section 8, and they are professionally managed. And each year when the lease comes up for renewal, I ask them to contact the housing authority and ask for a rent increase. I do it each year. So you would need to have your PM reach out and have them deal with it.

Hi Rhonda. I live part time in Long Beach. And next month, there is a Realty411 meetup at the Shoreline Yacht Club. It's not there every month. So you might want to check out Meetup and see what other local REIA groups are out there. I know there is a real estate event in L.A. each month.