All Forum Posts by: Andrew B.

Nathan, for investor-friendly realtors in Lansing, I'd reach out to Dave Hall (https://www.cb-hb.com/daveh) and Dale Huber (http://dshuberproperties.com/about-us/our-team/).

@Jamie Shah If it's a great deal with positive cash flow and you can afford to buy and hold, go for it.  I wouldn't bet on appreciation.

My advice would depend on your situation (including how much involvement you want in your investments) and goals (cash flow over time through rentals, larger quicker gains through flipping, etc.).  Many California investors find that they need to look out-of-state to achieve returns, particularly if they're looking for cash flow.  The BiggerPockets podcast, along with the forums, is a great resource to explore different investing approaches, including outside of one's home area.

If you and the property qualify, a traditional mortgage is likely to be the cheapest money you'll find.  But as @Nghi Le says, it depends on your situation and banks are picky about to what/whom they lend.

Ditto.  You won't recover the cost from tenants.  If when you're ready to sell in a few years, you then see value in having those improvements, you can make them then.

I'd look at the rents of 2 BR vs. 1 BR in the area (in my experience in other parts of the country, the number of BR drives rents much more than the existence - or not - of other rooms), and run your numbers, perhaps allowing for more vacancy in the 2 BR scenario.

You could also advertise as you have in your heading here (2 BR or 1 BR+living room).  That may bring in a greater variety of prospects.

Good luck!

I'd recommend starting with turnkey. On paper, the returns will be lower than the maximum possible return by leveraging your own team but, as others have said, there's a lot more risk and downside if you're a newbie managing a team from afar. As you learn more about REI, you can revisit and build your team when you're better prepared.

1. purely for cash flow, take a look at Indy, Birmingham and Memphis

2. San Antonio - you'll likely get much better cash flow in SA than Austin; high property taxes in Texas will eat into your cash flow in either area

Personally, I'd hold my fire on Stockton unless you get a really great deal.  If the market softens and home prices decline closer to employment centers in SF and Silicon Valley, as in 2008-09, people will not want to live so far away (and, if they're already in Stockton, may take the opportunity to move west).

If you're looking to be hands off, i.e., buy a pre-rehabbed property with a tenant already in place, then consider out-of-state investing, perhaps through a turnkey company - Cash Flow Savvy, Norada, and Memphis Invest are among the better known companies.  They focus on markets like Indianapolis, Memphis and Birmingham, which tend to have higher rent-to-value ratios and lower property taxes, and therefore better cash flow.