All Forum Posts by: Dan Johnson

Hi Sarah Lorenz I see that you are active in the SE Michigan area. Do you have time to discuss some of the methods that have proven themselves successful for you and your husband?

Thank you Fay. I'm guessing you were drawn to the better returns as well. What sort of challenges did you face with out of state management? Anything that could not be handled without being at the property in person?

Thank you JR and Charles for your feedback.  I guess I should have asked whether or not it makes sense for a first time investor to buy multifamily out-of-state as their first purchase.  Returns seem to be much greater in MI, but I assume it lacks the rental ease and consistency of CA (West LA).  As a commercial property manager, I know what good management should look like.  It may simply be very tough to manage a manager from such a far distance without knowing them very well.  

I am a new member from Los Angeles.  My wife and I just bought a condo together in West LA, so I do not have much money at this time for investments. 

Because I am not very liquid at the moment, I am designating a lot of time and energy to familiarizing myself with out-of-state multifamily markets.  One particular area is Michigan due to a large portion of my family being located there. 

Other interests include side projects such as residential sales, flipping and wholesaling in the Los Angeles area.  

Best,

Dan