All Forum Posts by: Paige Kelsey

@Gary Florin- if you will look at the post I am in no way trying to convince anyone to do as I did and I feel like I did explain why I chose Dayton. If it wouldn't work for you... that's ok but I was simply saying some of my lessons I had learned so that others would not do the same. You do you Gary! I kinda liken this to how on almost every podcast Josh and Brandon tear into Detroit pretty hard. Despite that there are investors chuckling all the way to the bank because they made it work. I like the military bases being in Dayton and I actually think it has a lot to offer. I live in Vancouver/ Portland Oregon and have property in Colorado i couldnt touch any invedtment here for under 250k. Even if i did and we havr population growth that you lovr Gary... in no way am i making morecthan what i would in the stock market.- Here's the thing - I made 18% last year on a income that is guaranteed from section 8 on a little single family brick home dor example. I paid 25k . The house is in ac class house rented to a mom and her 2 kids. They take good care of the house and the lawn looks fine. They have terrier mixed dog and she had a job but represents working poor america. You are welcome to contiinue to show me the stats all day Gary and maybe to you my little 25k home is trash but I kinda like it thank you.

@Jerry Pollio so I really have done pretty much everything every one of these pod cast talk about. I started with a live in flip and did not quit my day job.Every cent went to more property. I lived in one house, rented it as a vacation rental and moved in with friends for a while. My next wss a live in flip -bottom line is I was able to build cash fairly quickly and to go to dayton prices were low. I have a single family that I bought for 27 and it nets 600 a month. That's not too long to pay off time. It's a cute little brick house and is doing fine. Bottom line I was able to scale quickly from other investments and working full time along with.. these houses are less expensive.Lets just say... I can't buy even the worst of properties for under 200k here in Portland/ Vancouver. Is it risky ... maybe but I worry we are close to the top of the market in Portland/ Vancouver or in the stock market. I think investing in any of that has risks too. Pick your poison - this was hard at first and I definitely got some lumps in along the way but education doesn't come cheap- hopefully it will be a little better for someone else from learning from some of my mishaps.

@ Lisa Nariyoshi thanks for bringing that up but just to clarify I do not own D class properties  and I do think investing in multiple types of properties  mifht be somrthing i heard on a pod cadt but it can work for everyone to help shelter from a tyrn in one market or market sector or another- once again...  if u don't like it... don't do it.  

there are more agencies besides section 8 Lisa and ... nope they are sometimes delayed with payments. We do get  paid but... sometimes it has been slower 

@Daniel Weed , @Gane Sugali ,@Jeff Kemmer - I allotted for a capx moving forward but no I do not anticipate anything . I have my insurance through USAA but it is insured for a full replacement cost of 260k rebuild cost. I know that you can get it so that it is covered for what you paid and this could be less.  I love the property manager - I like that you dont pay a rent up fee for a property if a tenant he placed stops paying. He is absolutely fair on pricing if you ever do have a move out and for the units I plan on keeping I am staying with this property manager.  As to your question Jeff.......maybe??? I really am pretty happy with them at the moment just trying to move some cash out to buy commercial here in Vancouver. Let me know

@Gane Sugali

@caleb heimsoth I do totally agree with the first one but  I actually didn't say that about the rents- somebody else did. Moreover, I have not had a bad experiences with substidized housing  and............ I actually like Section 8- it is hard to get on that list. Folks DO NOT want to lose that so I think they take better care of the unit than if they were not. The thing I did say about that is that it can take longer for agencies to pay so you have to be ready for that.  Thanks for posting Caleb!! Happy Saturday!

@sam josh I liked that there were a couple big military bases there. We also knew the owner of the minor league baseball team in Dayton and know he threw a ton of money in. You know fact is that I heard on one of the podcast that one of guys talked about diversity in his portfolio. I like the hands on of real estate but like in stocks I didn't wsnt to be killed by just one market or segment of the market. To that end we havet commercial, residential, vacation rentals, long term  and low income in 3 different markets in my portfolio. I wouldn't go super big in a different market unless it was probably a triple net commercial dealor a trailer park which I seem to find fascinating for some reason.Bottom line to answer the question is military and our friend with the team 

@Lisa Nariyoshi - hey!!! Just posting my experiences in hopes that they might help someone else!!! The end. If that's not you, that's ok. I am not saying someone should follow me just this is the experiences I have had and the mistakes I know i made. I thought it could be helpful and wasn't trying to get in a debate on buying these rentals in the first place and if you think that was good or bad.  Fact is i feel like I learn a ton from others and was just trying to give back. Good luck to you in however different tour buying strategies may be from mine.

@Jenn N. Sure- always happy to connect  

@Account Closed - I went to your profile to see what experience you had to come up with a statement like," low income junk just doesnt work out.". I actually think there are plenty of folks on BP that would not agree with you. I actually am one of them. We have a mix of a and b level rentals but also obviously do low income. I certainly have learned my lesson through this process but I also believe that it is important to be good landlords no matter where you are.  I have some good tenants that I have met personally. Folks are working poor who struggle to make ends meat. Some of them are great tenants and I am happy to be their landlord.  Thanks for your opinion but I like my portfolio as it is.