All Forum Posts by: Ben Crosby

@Will Fraser

Thank you Will.

Excellent feedback from everyone so far. I asked for constructive feedback and so far my takeaways are:

1. Bring more money to the table. Simple solution, I will just have to partner, HML or wait a couple of months until I wrap up some other deals and have more liquid funds.

2. Lower the minimum standard for my better schools rating.

3. Better define standards for crime rating. What I con

How are folks objectively defining and measuring crime and accounting for it when investing long distance? Or, is it purely subjective based on local knowledge?

Do we have any active investors in St Louis? Most of the threads I have found are a little dated.

@Michael Krotchie

Thank you Michael. I will cross Tucson off the list for now.

@Andrew Postell

Excellent feedback. My Turnkeys are in a suburb of Birmingham and meet most of the 2nd level criteria (elementary is a 3, middle & high school 1 each so not quite 6). The reason I am looking elsewhere for a BRRRR is the availability of a direct flight. My father is a recently retired tradesman and has offered to fly out to help with the rehabs/vet contractors etc...

The act fast criteria are definitely a Unicorn that you seize the minute you see it.

After acquiring a couple of turnkey SFR's I have come to the realization that I need to transition to the BRRRR model in order to meet my goals. I have established a few criteria and would appreciate constructive feedback and connections to markets that meet the criteria. Financially, I will be bringing $30-40K cash and up to $30K available on a HELOC.

Act Fast Criteria:

1. -Buy & Rehab for less than $60K and <70%ARV
2. -Located in a market with direct flights from SLC for less than $200: Phoenix, AZ; Atlanta, GA; Reno, NV; Kansas City, KS; St Louis, MO; New Orleans, LA; Oklahoma City, OK; Tucson, AZ
3. -Sum of GreatSchools Rating >9
4. -Rent to Cost>2%
5. -Low Crime in immediate and surrounding neighborhoods

Take a 2nd look criteria:

1. -Buy & Rehab for less than $60K and <80%ARV
2. -Sum of GreatSchools Rating 6-9
3. -Rent to Cost >1%
4. -Low Crime in the immediate neighborhood. Moderate in surrounding areas.

@Shane Setzer

Cash for keys. Tell the tenant that you are going to begin the eviction and anticipate that it will cost you $X. If they are out by the end of the week you will give them the money and save everyone hassle of legal proceedings.

When looking at SA be sure to ask yourself if you can afford the property tax and mortgage if the property sits vacant for any extended period.

SA is located in Bexar (bear) County. I previously lived in Live Oak TX which is a suburb of SA located in Bexar County. Less than a quarter of a mile away was a different county and the taxes were a third as much all other things being equal.

-Ben