All Forum Posts by: Ali Boone

Posting links isn't allowed. Look me up, I'm easy to find. Happy to share the info! Will be great to have you in the group.

Hey Tim, sure, would be great to have you in there. I'm not allowed to post links in forums posts or even tell you to contact me, but happy to share that info if I hear from you. Would be great to have you share your negative experiences in there too. People are wanting to hear about various companies. Talk to you soon!

What kind of investing are you going to start with?

The big thing to know about buying more local to you if you're in NYC or buying out-of-state is going to be the numbers. Make sure you know how to determine cash flow, and first see what both options offer in that department. NY is inevitably going to offer negative cash flow, so you'd want to make sure you know exactly how you plan to profit on those profits and can afford the expense every month. I'm in LA, so same issue here. Aside from one local property I have to me here, everything else I buy is out-of-state.

Hey Julie! I love what you said- "for my life right now... it is the best option, even if it is not the "best" option." People on this website love to knock turnkeys because they aren't the "best". But they leave out the part about--they might be perfect for some people! It's ignorant to knock them completely. I don't think I would've gotten started in REI had it not been for turnkeys, and 10 years later, I still prefer turnkey over "the best" options. Plus, they aren't always the best, so it's misleading to say they are. Anyway, thank you for your phrasing on that one! For turnkey providers, I run a turnkeys Facebook group where there's a ton of info and input about experiences with various providers. I'm also happy to tell you what I know about any you might be wondering about. I work with various providers all the time.

I'm glad I'm not the only one who's noticed all the schills that seemed to have popped up on here more recently! I wonder if they know how obvious they are...

Hey Joshua, I think something needs to be clarified. You can't decide what rent you want to charge on a residential property... meaning, you can't just choose or determine a rental amount that will give you positive cash flow. The market determines rent limits. If you try to charge over market, you won't get tenants. So what that causes is--not everywhere will offer cash flow. The DMV area isn't known to offer positive cash flow. Your example of $998/mo on a $299,995 is a prime example of that. If someone wants cash flow, then they have to shift to investing somewhere that allows for it. I'm in LA- same issue here. No cash flow, so I invest out-of-state. Same for a lot of people in more expensive areas like you're in.

But to answer your question, since it's based on market values, you can either run a program like RentFaxPro or hire an agent to run a rental CMA for you (runs the comps of nearby rentals), or just look on Zillow and see what properties comparable are going for, to at least give you a ballpark (*don't go off the Zestimates*, go off actual rental listings). But again, it's the market value you're looking for, not what number will give you a profit.

Given your situation, I'd go for the house-hacking! Combines the investment component with the low down payment component. The only thing I wouldn't do on your list is buy a primary home. Needs to have an investment side to it.

Not sure if this article will help, but might give you some ideas:

https://www.biggerpockets.com/...

Other than that, my only answer would be... part of choosing a market is going to depend on a) what you want to buy, b) how you want to buy it, c) what your goals are. You said long-term hold, so that answers a), but then for b) do you want to put work into something, do you want to buy turnkey, etc? and c) what's most important to you in a property? Things like cash flow, appreciation potential, price range/budget, property type, etc.

I know that doesn't answer your question exactly, but maybe can get you started.