All Forum Posts by: Alpesh Parmar

@Steven DAmbra Good idea and great first step. 

1) Buy a property which you can afford.

2) If you are trying to house hack so find a duplex where the rent from one unit will cover mortgage and taxes + insurance. This way you will be living there for almost free.

Figuring out the market requires what you want to get out of particular investment...

For e.g. I do buy and hold but also want to make sure I have direct flight to that particular market. That was one of the reason I sold both my SFRs in Milwaukee this year. I don't focus a lot on appreciation and consider it as a bonus.

Goal is to invest in a B-C neighborhood and a B-C class property. Finding contractors and property managers are through referral and I don't just rely on one GC.

@Mel Hayes...I spent hours and hours figuring out the markets I am interested in. I don't buy fixer upper but do buy properties needing light rehab. That gives me some negotiation power. I started with turnkey operations and I recommend that if someone doesn't have time to do the leg work. Now, I build my own team in the areas I am interested in. Of course, when you are doing OOS investing, PM is the key.

Feel free to ping me if you need additional help.

@Marvin Ong When starting out, I relied on turnkey providers but once I became savvy enough, I flew out to these locations and built my team. Now, I prefer to do it myself. After my research, I saw Atlanta and DFW as some of the markets I was interested in. Again, I like other markets like Raleigh, Austin, Salt Lake city, Vegas but when the numbers don't make sense; I don't want to waste my time. Feel free to PM me if you need any help.

Welcome, @Adam Knight. I live in East Bay and mainly investing out of state.

I did cross fit for years before moving on to mud races like Spartan, Tough Mudder etc. Feel free to reach out if you need any help or are in East Bay.

@Gary B. I own multiple properties and I have never seen a PM offer # 2 as an option. It's risky for investors and time consuming for PM. Think @ if the PM starts managing over 200 properties, s/he would have to operate 200 separate accounts if each property is owned by different investor.

I wouldn't even go with that PM if he/she is recommending option # 2.

@Chatree C. As George mentioned, you will have to work with solo 401 K providers like mysolo401k, broad financial, total control financial and many others.

I moved my SDIRA money last year to solo 401K and I have full control now. Please PM me if you need more info.

@Michael Coiffman Agree with @Tom S. It's better to wait to improve your credit. It would be hard to get no money down deal with that credit and no RE investment experience. I am not saying it's impossible but would be hard.

Another way would be find private money from friends and family for down payment.

Stacy La Pineda I live in San Ramon and I haven't invested in California. I have properties in Birmingham, Atlanta and DFW. Make sure to research your market and build your own team in the market. Feel free to ping me and I will try to help you any way I can.

Originally posted by @Jamie Shah:

@Tim S. / @Alpesh Parmar  - definitely makes sense.  Goal was to try and stay local in order to gain "hands-on" experience and Bay Area and parts of Central Valley have become uninvestable.

What has been your method to determine the best OOS city to invest in? When investing locally, you can drive by the area, meet individuals that live locally, etc. that can provide you a lot of comfort into the right areas to invest in.  Finding the right team on the ground to manage your OOS investments is also typically hard (relative to local) to find. Would you mind sharing what method worked best for you guys in this regards? Happy to PM you to see if you would be willing to chat for a few minutes at a time convenient to you. 

 I fly to the location to build my team. It's not easy but allows me to network and build my team. Feel free to PM me and we can chat.