All Forum Posts by: David Rutledge

Hi Everyone,

I am a CA resident and I am looking to invest in a buy and hold property outside of CA due to the expensive prices here.

I am looking for positive cash blow with the hope of an added bonus of long term appreciation. I am only looking at C+ areas and above and I am not interested in a huge rehab job. I also want to get into the market at below market value if possible (I am sure everyone does) 

 After a lot of research I have limited my options to a few cities in the south east that I feel fit my needs of cash flow and potential higher than average appreciation best. I am wondering if anyone in here has any particular thought and/or experience in the following markets that you may be able to advise an investor looking for positive cash flow with appreciation upside.

The areas I have narrowed it down to are:

Florida: Tampa, Orlando, Jacksonville, Cape Coral/Fort Meyers

NC: Charlotte, Raleigh/Durham area

Any advice or insight at all into any of these areas for buy and hold investment advice would be very much appreciated.

Thanks so much for your time.

David

 Thanks Craig,

Do you think it is still possible to get a good deal with a property that is not in foreclosure or would I be paying market value for any property on the MLS?

Thanks so much for your input.

David

 Thanks for the info Tom, very helpful.

Is there a difference between foreclosed properties and REO properties? I know that sometimes you are unable to see inside foreclosed properties but I am unsure if that is the case with REO places.

Do you know if I may have better luck finding a property that does not need a complete rehap if it is a REO property?

Thanks again for your help.

Also, what part of FL do you live in?

David

Hi Everyone,

I am living in CA and looking to invest in a few buy and hold properties in the south east area of the US (Florida, NC etc)

I am a beginner investor and would obviously like to get in at the lowest point possible. Should I be looking for REO/foreclosure properties only or are there other ways to get good deals? I will be investing out of my state of residence so I do not want to buy something that needs huge amounts of repair and work (a little painting, flooring and minor repair are fine)

I am just unsure as to whether I should be looking only at REO or if that may be a waste of time for someone in my situation.

Any information or guidance on this matter would be greatly appreciated.

Thanks so much for your time.

David

 Thank you so much for the advice, it makes a lot of sense. I actually used to live in Tucson AZ so that is one of the areas I am looking at while I have also visited Jacksonville and Tampa many times.

So many things to consider and learn with all this so input from people like yourself is extremely helpful.

Thank you again for your time.

Hi Chase,

I want to actually own property at this point. Could you tell me what a turn key company is?

Thanks

David

Hi Miles,

Thanks so much for the insight. That all makes complete sense. I really appreciate your time.

Lets stay in touch.

Good luck with your first deal.

David

Hi Everyone,

I have been studying every corner of this site for about the past month in an attempt to learn as much as I possibly can about RE investing before I take the plunge with my first deal. There is such a wealth of insightful articles, podcasts and so many experienced forum users that BP has truly become my one stop shop for building my knowledge on RE investing.

I was hoping I may be able to tap into the experience and knowledge of some of you guys about my own specific situation. After going back and forth I have decided that my strategy for my first few deals will be to buy and hold rental properties. I do not want to flip houses nor do I feel comfortable enough to start wholesaling, buying notes etc... I want to take a very conservative approach and I am in no way interested in a get rich quick type flip etc...

I want to buy a place with positive cash flow (I do not really have a specific % in mind but obviously the more cash flow the better) with the hope that appreciation over time is an added bonus. I plan to hold the property for quite a while so cash flow is the main priority but I do want to buy in a place where house values will hopefully steadily rise in the coming years.

I have heard too many horror stories about difficult tenants in D type areas so I am looking at more middle class type neighborhoods. I live in CA but I wish to invest in another state. Perhaps in Texas, Florida, Arizona, Vegas or somewhere else in the south east.

The area I am having trouble getting my head around is the process of figuring out what I should be looking for.  I have heard many times on here that you make your money when you get the property not the other way around so I understand the value of a good deal. I have about $80 000 to play with so my plan is to split that into two properties as a 25% down payment for each.

I guess my question is where/how do I start looking. Should I be asking agents to only look at foreclosures and short sales in my desired cities or can I find deals in other ways than just getting a foreclosed property? Keeping in mind that I am fine with new paint and carpet or minor repairs but I am not comfortable rehabbing an entire house. Which cities should I be looking in? duplexes or houses? 

I feel like I have the strategy I want to use down but I do not really know the next step in finding the first deal and making sure it is the RIGHT one.

If anyone has any advice or can see any potential flaws in my plan please let me know, I would really value the opinion of others among the BP community.

Thank you so much for reading I hope to hear from you soon.

David Rutledge

OK, great, do you have the details on where/when they meet or who I should talk to to meet with someone?

Thanks so much.

David

Good morning everyone,

I am new to the BP community and I am looking to make my first real estate investment this summer. I live in Irvine but I am interesting in applying the buy and hold strategy with multiple rental properties outside of the state of California due to the lack of value in this technique here in CA.

I work in education and I am a complete novice in the business of real estate investing. I would love the opportunity to actually meet/talk with or connect with more seasoned investors who have had experience with investing in rental properties particularly as an out of state landlord.

Is there anyone in the OC area who has experience in investing in rental properties in another state that would be willing to meet with me or even chat on the phone so I can gain some insight into how best I should approach my first foray into the RE investment world.

I live and work in Irvine so if you would like to meet or discuss further please personal message me so we can set something up.

Thanks so much for your time.

David