All Forum Posts by: Joseph M.

@Uzi Pablo You have a lot of good suggestions and ideas so far . Definitely think it’s a good idea to educate yourself even if you do decide to be more passive of an investor . One thing I don’t think anyone mentioned is land. Of course it doesn’t usually generate income .. but land can appreciate very significantly . I’d look into land in the path of progress . Doesn’t make sense for most investors since they need /want to generate income but could be something to look at as part of your re investments

@Nathan Wankel Ideally a property that you can buy below market value .. because it needs work , then do the work , rent it out and refInance and ideally the refinance allows you to get back your entire investment ( purchase price and rehab costs ) or most.. also the property should still cash flow after the refinance.

Amazon is reportedly in advanced talks to open their second HQ in Crystal City,VA in the DC area.

Not surprising I guess , especially with Bezos owning Washington Post and would be beneficially for them do be near D.C as far as lobbying etc . 

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Amazon.com has held "advanced discussions" about the possibility of placing its second headquarters in Crystal City, Virginia, the Washington Post reported citing people familiar.

https://www.bloomberg.com/amp/news/articles/2018-1...

@Marshall Mickells Welcome ! You should check out the BP Ultimate Beginners Guide http://www.biggerpockets.com/ultimatebeginnersguide.pdf If your friend is investing and doing well then he seems like he could be a great resource . You mentioned he is flipping rental properties . So is he finding properties that need work , fixing them and then renting them out ? Or is he fixing them and and selling them .

@Keith Shadle Welcome ! , I’m in L.A , San Diego is a great city have always enjoyed visiting.. lot‘s of great brewerIes there too . Indy looks to be a great market for cash flow and also some good potential for appreciation in certain areas . Been reading about some of the big developments planned for the city. That’s interesting about the TJ rental , would be curious to know what the numbers are. I’ve heard it can be hard to own real estate directly as an American but maybe things changed .

@Jonathan Barreneche This is an issue in many markets since prices have appreciated faster than rents . Have you looked at properties that need work or maybe looking a little further out of the area you’ve been searching in ? Might also want to see out off market deals ..

@Michael Kiley Are you seeing an increase in bank owned / REO properties in Cleveland ? Are these properties listed on the MLS or off market ? I believe I read something that the bank has to list on MLS but not sure if that is accurate or has changed .

@Joe Kim

Congrats , quite the accomplishment especially working so many hours full time. 

The rental arbitrage in the Bay Area rentals is interesting . Did you have to pay above market rent to the landlord ? 

How many landlords did you have to speak to before finding one to accept the arrangement ?

Do you offer to handle maintenance issues as an incentive ? 

This seems to make sense in areas like Bay Area or L.A where are high and you’d be looking at well over $100k just on a downpayment for a property .

Since you work so many hours at your job I imagine there isn’t much time spent in the rentals , does your cleaner also meet guests if need be etc or do you have another person in each area to handle this ?

@Mike Dorneman You are generally spending $10k per property for rehab ? Did it take you a long time to find a lender that would allow a cash out with no seasoning ? Also do they only lend in PA? Sounds like you have a great strategy going

@Noam Ofan 

Not sure if you ended up investing in the area or still interested but I came across this recent article about new businesses , restaurants etc that have been opening up in the area . Looks pretty interesting 

Retail, restaurant boom heats up Old Brooklyn

https://www.cleveland.com/entertainment/index.ssf/2018/08/a_new_day_in_old_broolyn_cleve.html