All Forum Posts by: Christopher Griffin

@Mike D'Arrigo Yes please send me the link if you get the chance.  I'd really appreciate it. Thanks!

@Karen BarberThank you Karen.  As we move along and look further into Kansas City, I will definitely reach out to you.

@Larry Fried @Lane Kawaoka

Thank you for all the helpful advice.  Since this is our endeavor into rental real estate, our main objective is to find a very stable solid market.  We aren't quite looking for speculative investment with the hope of an eventual boom.  With our current amount of capital and low experience level we are looking to minimize the risk, learn the ropes, and build our portfolio from there. We are looking for a Single Family Home in very reliable market for around $160-$200K.

@Jay Hinrichs

Thanks for the advice.  I have been reading over the past few weeks about turn key properties.  This seems to be the best route to go.  We are currently looking in San Antonio, Kansas City, and Tacoma.  In your experience are there any other areas that you would suggest to those starting out who are looking for a stable market with decent cash flow?

Hi All,

My colleagues and I are planning our first real estate endeavor on a rental property.  We are in California, so we are set on purchasing out of state.  From those of your that have invested out of state, what is the general process you go through to make a safe, sensible, and solid purchase.  What are your most efficient strategies for exploring a market once your are set on a location?  What resources do you use to help your process?  How many times do you visit an out of state city before you invest?  What should be the main things one looks for when visiting?  Do you have a general checklist to feel confident that you've performed your due diligence in an area that you are unfamiliar with?  

I think we are a bit nervous making our first purchase out of state, but we feel California isn't the the most lucrative state to invest in with our resources.  Is there any advice you can give?  Thank you!

Two colleagues and I (from California) are working to invest in an out of state single family home rental property.  We have been looking into two areas: San Antonio and Kansas City.  From anyone with knowledge and/or experience in these areas, which do you think is best for a first time investor.  What are the pros and cons?  Thanks.

@Mike D'Arrigo I'm teaming up with two other associates in California.  We are looking to invest out of state.  Initially we were leaning towards Texas because it appears to have a solid and steadily growing market.  However property tax in Texas is astronomical, which has turned us off that area.  We've recently been looking towards KC.  With the low prices, we could possibly manage a duplex or triplex.  

As first time investors, is there any advice or general info you would recommend to us for the KC area? Thanks.

@Seth Teel

Will do Seth.  Thanks!

@Jerry Padilla

Hey Jerry, thanks! So you're suggesting instead of creating an LLC, we should get an umbrella insurance policy? If that is the case how would you recommend legally secure ownership percentages of the investment between the investors?

Also I've been given the suggestion to purchase the property and receive the loan as an individual, and then transfer the deed over to an LLC. What are your thoughts on this?

@Jeff Greenberg

Hey Jeff,

Thanks for the info. Very helpful.  I had a follow-up question about the LLCs:

If you're forming an out of state LLC for each property, where are you registering the "office" of the business. Can we list the office with a registered agent in that state? Or is the property itself listed as the business address?