All Forum Posts by: Anthony L Amos Jr

Hello Friends

I live in California. I am looking to invest in out-of-state cash-flowing markets. Please provide the top 10 markets. 

Thanks in advance. 

Hello folks - this is my first post after silently trying to consume as much info as I can from reading the wealth of information on here.

I live in the Bay Area in California and I’m looking to invest in Ohio primarily because the prices are a lot more attainable than what we have here.

I personally don’t have a lot of money to play with, but I’m looking to be able to acquire a multi family in Ohio (less than $100k in a good neighborhood if that’s do-able?) - I just can’t decide what city to focus on. Looks like the big contenders are Cleveland and Columbus.. any recommendations or advice you have that would aid in my decision making would be greatly appreciated.

Also looking to get recommendations on real estate agents with expertise in investing in these areas

Thank you for the help!

I know a lot of agencies have investors in house.  Do agencies (KW, Coldwell, etc) hire individuals who are solely investors?  Or are they contracted out a different way?  Are the requirements to come aboard different (such as licensing, proof of financial stability, etc)?  

Hi all,

I've recently started listening to the podcast and reading everything I can get my hands on. I'm wondering what advice anyone might have for new investors living in very expensive market (NYC). I'm interested in SFH LTR and would like to start smaller and local (looking out toward Suffolk county as well) to gain experience but it seems like cash flow would be difficult to find even for more experienced investor. I anticipate investing long-distance in other markets in the future but would feel most comfortable being local at first.

Do I just accept negative cash flow and try to break even knowing it's an appreciation market, look at other markets from the get-go, or can anyone provide advice to optimize my opportunity here?

Thanks so much. I'm excited to join the community.

I’m looking to buy 2-4 unit out of state rental properties in the $150k range. My goal is to cash flow around $600/m from every property I buy. I currently own a duplex that cash flows $650. 

For a duplex I would prefer 3 bed on each side with rents of $900-$950 on each minimum. Price $150k and below. 

For triplex and 4 plex I would like it to be under $200k with a goal of hitting $150k price range. Gross rents need to be $2200 or more. 

I prefer realtors who own rental properties or have many clients that are investors. I plan to talk different strategies. I normally put 25% down with a DSCR loan. However, I'm thinking about doing brrrrs. My goal is to one day own 10 properties cash flowing $600/m each.

Some markets im interested in are Midwest. Ohio (Cincinnati, Dayton, Columbus, Cleveland). Indiana (Indianapolis), Pennsylvania (Scranton and Western PA)

Florida (Jacksonville, Orlando, Panama City, outside of Miami). 
Texas (Dallas, Wichita Falls). 

I prefer the Midwest and am liking Ohio. Plan to invest by the end of the summer. 

--- reposting from the intros thread since this seems to be a better place for this. Apologies for those that have seen this already :). ---

Hi,

I am a management consultant based out of the Chicago looking to begin my real estate investment journey. I have saved up some capital that I would like to deploy over the next couple years in a few properties. BP podcast has been a great place to get my bearings but still very new to this and looking to connect with folks either in a similar place in their REI journey for comeraderie or more seasoned folks willing to part some advice/mentorship in the Midwest in both local and out of state investing. Contacts for good real estate agents, property managers, loan officers, real estate lawyer, real estate tax professional would also be much appreciated. Ideally I would like to partner with someone on my first deal where I can supply the capital and learn how to be an operator in this space through hands on work through the life cycle of the deal. Thanks bp and community in advance for all the value you guys provide.

Katy.

Hi,

Canadian real estate investor here looking to start investing in Ohio- Cleveland, Dayton, Columbus, Cincinnati areas in consideration. 

Looking for advise and help with contacts that can help including a realtor, CPA to set up proper structure and lenders who work with Canadians.

Any help or tips would be greatly appreciated! 

I am a new BiggerPockets member and have been impressed with the incredible value that you all provide :)

I am from DC/MD/VA (DMV) area and have an FL single family property that is paid off, has a cash flow of $1300/month, and is currently valued at $450k. Last year, my tenants broke their lease early, and after a huge sum to get back on the market and rented again, Hurricane Ian has put it out of commission for the last six months. I am currently doing upgrades as I plan to use 1031 exchange into a Multi-Family (2-4 Units). I have looked at the market in my area and the multi-units are very pricey! Ideally, I would like to get something that's reasonably priced, can still cash flow, and appreciate over the long term. Which cities or States would you recommend to look into where this down payment would go far?

Hi Bigger Pockets Family

My name is Isaac, a mechanical Engineer by trade in the Grand Rapids MI Region, I'm looking to start building my portfolio in real estate but looking for the best strategic for a young investor standpoint. I'm not scared of taking risk, i will like to connect with fellow investors and agents for the best advise, and also build my team. I have done a lot of research for the Brrrr method, Apartments, buy and hold, rental and wholesaling. Those 5 strategies are what I'm seriously considering, all good in my opinion just need to make the right choice for my first.

PLEASE ADVICE

Hi all,

I recently graduated college and wanted to purchase my own investment property. However I do not have enough to cover the 15% downpayment. I decided to purchase a single-family home and owner occupy it for 12 months before renting it out to put a lower downpayment down. I have been transparent with my lender about my plans as well and I will not have to refinance. I am wondering do I put the minimum 5% down or put all of my cash into it at 10% down. 

Furthermore I am expecting large stock grants from work every quarter over the next year. Should I put all of this into the property as well so I will have 20% equity before renting it out and get rid of PMI for more cashflow? (PMI $162.50/mo)

At 5% down the property will cashflow $219/mo after mortgage, taxes, insurance, PMI, property management fee, vacancy. ($24,000 downpayment + closing costs)

At 10% down the property will cashflow $319/mo after mortgage, taxes, insurance, PMI, property management fee, vacancy. ($36,000 downpayment + closing costs)