All Forum Posts by: Bill Manassero

@Brandon Bale

Hey, Welcome to BP!

I'm an out-of-state multifamily investor living in Mission Viejo.  If you want to chat, message me.

Best,

bill

@Zigmunt Smigaj

I understand what you are saying, especially as it pertains to multifamily in So Cal.  That's why I buy out-of-state.  I bought 22-units in Indianapolis for $350,000, did light rehab, increased rents and it is a cash flow machine.  If you ever want to talk out-of-state multifamily, just message me.  I'd be happy to meet with you for coffee sometime.

Best,

bill

Hello @Vincent B.

I'm also from Southern California (Mission Viejo) and I only buy out-of-state.  In fact one of my best performers right now, getting 45% cash-on-cash returns, is a duplex I bought in Indy, in the Bates-Hendrix area of Indianapolis, for $51K.  It has appreciated to over $75K in less than a year.  I have no problem keeping both sides rented.  I also have a 22-unit that is 90% occupied.

If you want to chat sometime just PM me.

Best,

bill

Welcome @James Griffin!

I'm an investor in Mission Viejo who primarily invests out-of-state but am available to meet for coffee if you want to talk multifamilies or buy 'n hold..  

Just let me know.

Best,

bill

@Rob Smith

Derrick is my PM in Memphis and he is my best PM in the three states I invest.  I would highly recommend Derrick and have done so to many many people.  He really saved me from a terrible situation with two of my properties and turned it around into pure profitability!

If you have any questions at all, feel free to message me.

@Nishant George

Welcome to my world.  Born, raised and live in So Cal.  Would love to invest here but not the best place to invest in buy 'n hold.  So, I have investments in GA, TN & IN and am more than happy with my return and equity growth.  Some of my properties are even pulling $300 plus per door.  The greatest thing about investing out-of-state is that you can research and find the exact market to meet your needs.  But you also have to be prepared for out-of-state investing.  It definitely has its pros and cons.  You definitely need to spend most of your time on building winning teams in each area.  80-90% of your success hinges on your team,  Once that's in place you can realize significant cash flow.  If you want to chat or ask questions, please feel free to PM me.  Best, Bill

Hey @Marylin OShea

It's great to hear of your interest in utilizing real estate as a social enterprise.  This is my goal!  I have a nonprofit in Haiti that I hope to fund significantly through my real estate investing income.  The nonprofit is called Child Hope International and it has been operating in Haiti for 15 years. 

I am currently seeking to acquire 1,000 units by 2020 with the end goal being to generate retirement funds and income for the nonprofit (the majority of the funds).  I explain my goal on on BP podcast episode #191.

If you are interested in chatting, just DM me.

Best,

bill

Hi Andrew Liu ! Welcome to BP! You will find great info here. I am a multifamily investor who lives in Mission Viejo but invests only out-of-state. If you want to meet for coffee sometime just let me know. Best, Bill

@Mark Graffagnino - Great feedback!  Yes, I got photos from my PM and it looks like trim as well will need to be done.  Two different wall colors.  So, I might be able to trim off a few dollars but not enough that a trip would make sense.

Hey, and thanks for listening to the show.  I will definitely take you up on the lunch, though, next time I'm down!  

@Deanna McCormick - Thanks for your good comments and advice.  I would normally do exactly what you said, except, I'm so cheap, I'd probably end up doing all the painting myself and paying the savings to my chiropractor after throwing my back out!  lol.  I recently flew to Indy and stayed a month in my apartment there.  That was a real educational experience.  While there, I saved thousands with Craigslist, Angie's list and other local help.  But this is a little too close to call, after the flight, rental car and other expenses.  I think I'll sit this one out, bite my lip and pay the PM.  I'm getting good at that!  haha

@Adam Abdel-Hafez

Thanks for the feedback.  As I'm calling around, it seems the paint alone is around $3K.  So, maybe it's not as bad as I thought.