All Forum Posts by: Diana Teng

Quote from @Sam McCormack:

Quote from @Diana Teng:

Hi all,

I think my question above is pretty direct.

I'm interested to buy my first rental property, and after doing a brief search I see that there are quite a number of places out-of-state (I live in NY state)  that offer affordable homes that deem to be in hot market areas right now (according to many different articles online). 

However, because I am unable to make trips to scout locations or look at homes in person. I know that finding a team is crucial, and not sure where to begin on this. Have you guys ever purchased a property without physically seeing it? I just want to know if this is a good idea ? And if you guys know any hot market places that will appreciate greatly, I would love to know! 

Hey Diana, I have a few questions so I can better answer your questions. I only say that because I have investors OOS that I work with often that never see their investment, even after they buy. I do my best to make sure my clients know what they are investing in, even without seeing it first and it has worked well to my knowledge. Of course riskier in general because not everyone is knowledgeable/trustworthy, but that's where you build the best team possible and learn. I am in Cincinnati/Northern Ky market, if you want to talk more about the area, or just REI in general, would love to make the connection to know how I can help you best

Hello Sam ! Yes I think I should explore around , pick a market and see how things roll . I could perhaps make some time to visit for an afternoon or half a day if it calls for that . 
I would also want to see what you think about Cincinnati . Thanks ! 

Wow yes I feel like I'm hearing first-hand how wrong it could go, but I have a few questions and concerns if my standards will follow suit of the unlucky investors:

-For sure I would want to work with Class A or B rentals (I had a property 5 min from my home and the tenant was HORRIBLE, so a reliable renter is CRUCIAL), but not sure if my price range would find such a tenant.

-My budget is max 250k, so yes I am trying to find a hot market neighborhood that can accommodate these two points.

-I would tend to buy a property I would also feel comfy living in, being that it is not too old (I know older properties would have more issues), so I would go for a house built after 1990s. PREFERABLY 2000s and later. 

-I'm fairly careful with communication , but again, I know doing business online is way riskier, but I want to ask: Typically, I would trust someone who seems very in-depth, informative (gives statistics and numbers), and basically would give me thorough steps (including worst-case scenarios and what would best fit my situation)

^^would people who have experience say that even with the above, some agents/lenders/PMs would still be sort of out to get your money and do a lousy job?

THANKS GUYS ! Appreciate your feedbacks SO MUCH!!

Wow yes I feel like I'm hearing first-hand how wrong it could go, but I have a few questions and concerns if my standards will follow suit of the unlucky investors:

-For sure I would want to work with Class A or B rentals (I had a property 5 min from my home and the tenant was HORRIBLE, so a reliable renter is CRUCIAL), but not sure if my price range would find such a tenant. 

-My budget is max 250k, so yes I am trying to find a hot market neighborhood that can accommodate these two points. 

-I'm fairly careful with communication , but again, I know doing business online is way riskier, but I want to ask: Typically, I would trust someone who seems very in-depth, informative (gives statistics and numbers), and basically would give me thorough steps (including worst-case scenarios and what would best fit my situation)

^^would people who have experience say that even with the above, some agents/lenders/PMs would still be sort of out to get your money and do a lousy job?

THANKS GUYS ! Appreciate your feedbacks SO MUCH!!

Gosh, thanks so much for replying !

Yes, I really did just stay up until 3am going through a rabbit hole of REI. Of course, I'm not looking to build a business on it just yet, just to diversify my portfolio and anticipate a passive income/appreciation to build my future when I have a family.

I did do some market searching on Redfin on places like Fort Worth, Marcopa Arizona, Dayton and San Antonio. But I also see many people on BP vouch for Ohio !

Now would you say it's possible to build a network via the web? Im guessing a large number of people do this rather than physical meet-ups? 

Again, much appreciated for your feedback !

Hi all,

I think my question above is pretty direct.

I'm interested to buy my first rental property, and after doing a brief search I see that there are quite a number of places out-of-state (I live in NY state)  that offer affordable homes that deem to be in hot market areas right now (according to many different articles online). 

However, because I am unable to make trips to scout locations or look at homes in person. I know that finding a team is crucial, and not sure where to begin on this. Have you guys ever purchased a property without physically seeing it? I just want to know if this is a good idea ? And if you guys know any hot market places that will appreciate greatly, I would love to know!