All Forum Posts by: Jared Bigman

Will be out of town this week but hope to meet at the next one

I’m in 

Cody,

Congrats, looks like an awesome triplex. Hope to learn more about your rehab process and numbers.

Hans, welcome to BP. Congrats on getting started in identifying your first investment market.

I’m also in OC, so I understand the need to invest OOS and am also evaluating markets. Indy is very popular around here. Cashflow is certainly attainable, and you should have no problem connecting with current investors, PMs, agents, etc. Best of luck to you.

Thanks for putting this together. Looking forward to this meetup next week! Really found a lot of value in the last one.

Hey Steven, welcome to BP. I’m also in OC and getting started in OOS investing.

I’ve gained a lot of knowledge reading other threads on what criteria new investors look for in selecting OOS markets. I think I have it narrowed down to 3-5.
What type of residential property (condo, SFH, MFH) do you have in mind as a goal for your first investment? Do you have a target purchase price range? This criteria may help others with their recommendations. Best of luck to you!

FWIW, I've rented apartments in Orange County for the last six years from a very large property mgmt, who has consistently raised our rent around 3-5% each year. Approaching renewal time, we were eligible for a decreased $10/month renewal, based on current market rate. BIG surprise for us. They followed up recently to offer rental assistance for all tenants to renew at current rate, regardless of lease end date. Within a 2 mile radius, there are about 10 newer construction complexes offering first 6-8 weeks free, but their rents are $200+/mo higher. This suggests to me they're looking to stabilize for the foreseeable future. 

I'd ask those PMs if their current MFRs are maintaining, lowering, or increasing rents at this time. I'd also look at competitors within a few miles radius. I believe this trend will be short-lived (1-2 years max) and, if you're run the numbers and believe you have a solid deal, rents will stabilize and increase as you've predicted long-term.

Man Logan, what an awesome job. I'm just getting started, but it's really inspiring to see what you've created and accomplished in such a short period of time. Even through your short post, the dedication you have is crystal clear. Happy Birthday!

Hey Brandon, awesome to hear you've had success with STR. I'm 30, also live in Irvine and just getting started with strategy for REI. Hope you have great success with your credit plan — I've been budgeting with YNAB the past few years and it's made a world of difference for me and my wife as we eliminate debt and simultaneously save for travel plans and REI.

Alex, congrats on your incredible success! I’m biased as I moved to OC six years ago, but I don’t plan on leaving anytime soon. The weather is incredible year-round and the beaches are top notch (when they’re open lol). I’m constantly finding new hiking trails, farmers markets, and other community amenities to enjoy. 

With your budget, Laguna Beach and Corona Del Mar meet those requirements. Both have great uptown vibes with cool local businesses. If being by the beach isn’t crucial, Old Town Orange has a lot of charm and college town feel (Chapman Univ).