All Forum Posts by: Cj Powderhorn

@Jacob Barker thanks for your service and for keeping us safe! I also live here and have looked around quite a bit.  I haven't been able to make the numbers work here. There are some MF's in West Valley that may work -I'm surprised by the number of listings in Utah that state 'rented below market' and I mostly ignore that statement. I have some hesitancy looking in Utah County as I wonder if it will be overbuilt eventually. I think Park City may have some bargains this summer, but their long term rentals seem to be a steal and don't justify the cost.

I have a few properties in Memphis (bought a few more this month) and am educating myself on some other areas. I am looking for an area with more appreciation and less cash flow at this time but still need the numbers to make sense.

As I've had luck with my out of state properties, managers, etc. I am going to probably head out of state again although I'd like to invest locally...sigh...

Trying to decide where to invest next. It's a new problem as I am very comfortable with my Memphis team. I've been looking at Richmond, VA, Jax, FL (concerned about the job market there), Jackson MS, and the midwest. It's touch to narrow it down...

@Carrick Young. Do you base the zipcodes on the school districts? I'm thinking about JAX as my next place to invest.  It looks like there is a bunch of new construction everywhere there. Any areas you would personally recommend as a start?  Also, thoughts on JWB?  I am considering MF and SF and am familiar with Atlantic Beach and the airport and that's about it. Thanks a bunch, Cj

Hi, I have been considering a 401K loan. It's my understanding that the interest you 'pay' on the loan goes back into your 401K.

Curious as to why many are considering a w/d instead of a loan? It seems like a loan is the better option? Thanks, Cj

Recently found this site last month and learned a lot from the available 'free' stuff.. Watched a webinar last month and went PRO, thanks Brandon! Closing on my next THREE properties (one duplex, two MFR) this week!

Question on the new 'rental calculator', am I missing the place where you can put in the ARV or Appraised value, etc to see the equity screen? For example, a renter wouldn't let an inspector in due to Covid so the previous buyer pulled out and I was able to get the property quite a bit lower than list and the previous offer (b/c I didn't insist on an inspection on that side as it's only been occupied since 11/19). I am able to figure out everything except for 'equity'.

Thanks!

As far as the previous stimulus this article is interesting...the biggest takeaway is that Ruth Chris received $20M stimulus with a profit of $468M last year.  Shake Shack founder was given $10M and is now returning it.  It's very disheartening as it seems like the F&B industry is one of the hardest hit.  50 publicly traded companies received $250M.

https://www.cbsnews.com/news/paycheck-protection-program-small-business-missed-coronavirus-hot-spots/

@Jared Comeau I bought my first round in mostly 2009 and 2010. I've recently found a great resource that will sell other investors property with a renter, ledger, etc. You're not getting a 'perfect' investment property but you will save money.  I just invest for myself, no professional interest.  PM me if you'd like more info.

Very solid renters at ALL price points.  I have had renters for 5, 5, 6 and 7 years and they are still there.  Of course I have fantastic property managers.  Great employment opportunities at all levels as well - Fedex, Amazon, St. Jude, etc.  Top choice for is MSHB - fantastic Turnkey and they have lots of experience with overseas buyers.  If you are looking for cash flow, this is your place!  Also, depending on what you can find, there are some higher priced areas with more possible appreciation.

Hi,

I 'm new to the site and really appreciate all of the experience that is shared here. Currently, I have all of my eggs in one basket (in Memphis). I use MSHB there and have been with them since around 2008. I am looking for turnkey properties in a few different areas. I've talked to both Norada and Roofstock and their advice has been quite helpful. I've also spoken with Freedom Real Estate Group in Ohio-they are in Dayton and Cincinnati. I have considered Chris Clothier, but I feel like their model (not showing any homes) is a bit strange. I'd like to find one other TK provider in an area where I can get 5-7 SFR (eventually) that will appreciate. I don't currently have any loans on my investment properties so would like to finance new ones.

I'd love some advice/experience sharing on:

1.  Do the 'big' turnkeys provide the same level of service as a solid provider that deals with one/two areas? I did notice RS has some discounts with the PM rates as well. I've read the articles on here, and watched some various youtube videos.  Are there any other recommendations, good or bad?

2.  Given I'll be investing long distance, what areas do you recommend for appreciation?  I have solid cash flow right now, but need to get into some different market segments.  I've been looking in the south and midwest, but would like to avoid C neighborhoods as I've got several of those! :)

Hopefully, my question isn't too repetitive as I've seen quite a bit of individual reviews, but nothing comparative.

Thanks,

Cj

Yes, it is! I just signed up last night and there is a 'special' if you listen to the webinar, "Buying your 1st, 2nd or 3rd rental property'.  I believe the special (and webinar) expire tonight at midnight.

Sorry to hear about your situation. That is one reason I am a bit hesitant to buy anything occupied right now. I would hate to start with 3 (or who knows how long) months of unpaid rent.  It's a bit different to have a renter with a strong payment history impacted by the current situation versus starting off with a renter not paying.

Also, I ask to see payment ledger (may not have helped in this case) and information on the tenant. Payment ledger will (usually) also show any damage that the tenant has caused if the tenant is required to pay to repair.

I think most are trying to be helpful regarding the VA loan. How you purchased the duplex doesn't really add any pertinent information to you dilemna, and it may raise some questions.