All Forum Posts by: David Noh

@Jay Hinrichs

I just had a call with Morris Invest because... why not ? I had an appointment with them !

Larry called me and he was telling me about cashflow and how people pull money out of their 401k/IRA to buy their products.

They still sell unfinished properties and leave the customers after they get their money. How does this company call themselves a turnkey company ?

Larry said he will send me a list of B class neighborhoods so we will see what I get !

Oh and when I mentioned all the negative reviews about Morris Investment, his attitude changed very fast and almost threatened to end the call. "If you dont want to work with us that's fine"

Interesting so far.

@Harvey Levin

I would definitely like to follow up on your opportunity if I zero in on Indianapolis for my OOS investment portfolio !

Looking forward to it.

@Austin Hoxie

Hey Austin, I would check out BP podcast episode #311. The guest talks about the current situation of flips in 2019. 

Not the entire podcast is about flips though !

@Jay Hinrichs

May I ask what your thought on this discussion is ?

I see alot of people worrying about cashflow but OP hasn't mentioned how much equity she has in these houses and how much equity is gaining by paying mortage each year.

She could be coming out positive in terms of net worth no?

@Paul Linnertz

I considered college rentals as there are always demand and there won't be vacancy (unless your location/property is awful).

There are couple cons I see with college rentals that may shy away some investors.

1. Huge risk with what types of students you may get. If you end up with students who are throwing parties every week, wouldn't your property be in distress in couple years? Even if you do screen and interview every time, this seems to be the biggest no factor. Security deposit may not cover all the costs of the damage as well.

2. The turn over rate is almost guaranteed to be ever year unless they resign.

How do you personally take care of these two problems ?

@Account Closed

I've actually been around Chicago suburbs a month ago and I found great properties that would go for 1.4~mil dollars in Bay Area for only 200~300k (in terms of quality).

I was first interested in Denver, Colorado but rent would be 0.5~0.7 % between University of Denver and the tech area but as you said, the appreciation were all had by investors years ago and I figured at this moment, cash flowing properties are the way to go for now.

Some parts of Memphis (C-B class neighborhood) seemed interesting but I definitely realized Midwest (I liked Indianapolis) was the place where ROI came out the best. It is just difficult for OOS investors to find the right people as I believe having the right team is the most important.

Could you elaborate on how Indiana has landlord friendly laws and how you were able to find the right team OOS ?

@David Greene I apologize for the @ but is the event sold out as well ?

@Kris Zabish

Good luck my man, I'm from the Bay and prices around here were awful so I started looking 1~2 hour radius but it seems like even Sacramento area is also getting very saturated for residential !

@Kris Zabish

That perfectly makes sense ! I can tell how much more paperworks and understanding this deal needs because you are now delaing with zones which probably involves the government. I'm looking forward to your progress !

@Jay Hinrichs 

It is definitely true. Coming from a software engineer background myself, I have peers and friends around me that are starting to get into RE (they are afraid of the stock market) and you know how the market is in Bay Area. The numbers are awful, ROI is awful and imagine if one of these fellows come across Morris Invest that promises you the convenience and net 12% return for just 40-50k which can be chump change if one saves correctly this area.

I've just listened to BP podcast episode 257 featuring David Greene who is a police officer in SF investing out of state. His strategy is to find the experts and rely on them while doing his due diligence in out of state markets. Work the 20% of the deal and let the others work the rest of 80%.

Do you personally follow the similar strategy of finding the team in a new area or do you personally like to take the helm yourself?