All Forum Posts by: Jared Hottle

Dions binder theory is one area to look. Personally I think ripping the bandaid off and getting them to market rent as soon as you are able to is the way to do it. Be short and succinct and send the notice legally. Some will understand, some will move out.  

Greetings from Northeast Iowa! Most of the factors that limit us are ourselves. Even with no experience you can be wildly successful just need to start and take daily consistent action.

Josh I am in Waterloo/CF and would love to connect. CR is a great place to get going in real estate.

Getting confidence in an out-of-state investment can be challenging, but there are a few steps you can take to help build your confidence:

1. Research the area thoroughly: It's important to do a deep dive into the local market and understand the economic, social, and demographic characteristics of the area. Look at factors such as the local economy, employment opportunities, rental demand, and the overall real estate market. You can use online resources like Zillow, Redfin, and other real estate websites to gather data and insights.
2. Connect with local experts: Reach out to real estate agents, property managers, and investors who are familiar with the area. They can provide valuable insights into the local market and help you better understand the potential for rental demand and investment opportunities.
3. Drive by the property: If possible, visit the area and drive by the property you're considering. This can give you a better feel for the neighborhood and help you understand the local market.
4. Run your own numbers: Use your own research and calculations to verify the financials of the investment and make sure it makes sense for your investment goals and criteria.
5. Consider hiring a property management company: If you decide to invest in the property, consider hiring a reputable property management company to handle the day-to-day operations of the property. They can help you mitigate the risks of investing in an out-of-state market and ensure that your investment is well-managed.

If you would consider Eastern Iowa I would love to connect and help you find properties. Pretty solid market for cash flow

I agree with others on here. I would not test just another huge expense and does nothing for ARV really. Plus you will need to disclose it to every tenant or potential buyer.

Rae, pricing has been difficult. I think you need more than 25% above to make it worth it. Especially if you are in a seasonal area and have any winter vacancy. To me the unknown of utilities and vacancy mean I need to build in more on the top end to justify. Especially with the increase in long-term rent availability. 

BRRR method.

I have not heard that unless you are buying turnkey at a 20% discount and then refinancing without doing anything to get your money out but this likely wont happen often as owners or agents typically know their values pretty well. The value add or BRRRR method is much better if this is what you are looking to do but you will need to find a home much lower than 20% of ARV to account for rehab. Get good at running comps through practice. Single story homes are much easier to estimate repairs in my experience. Start making connections and figure out what a window costs to replace, a roof, flooring, cabinets, etc and the more you do the closer you will get.

There are several strategies you can use to market your investor special listings:

1. Online Marketing: Utilize online real estate platforms such as Zillow, Redfin, and Realtor.com to list your property and reach a large audience of potential buyers. Consider using paid advertising options to increase visibility and drive more leads.
2. Social Media: Use social media platforms like Facebook, Instagram, and LinkedIn to promote your listings. You can create eye-catching graphics and videos to showcase the property and target specific audiences, such as real estate investors.
3. Direct Mail: Consider sending postcards or flyers to potential investors in the area to let them know about your listing. You can use data and demographics to target your mailings to individuals who may be interested in investing in real estate.
4. Networking: Attend local real estate events and connect with other real estate professionals and investors. This will help you build relationships and generate referral business.
5. Open Houses: Host open houses for the property to give potential investors the opportunity to view the property and ask questions. This can be a great way to generate interest and create a sense of urgency among potential buyers.
6. Professional Photography and Virtual Tours: Invest in professional photography and virtual tours to showcase the property in its best light. High-quality visuals can help you attract more potential buyers and generate more interest in the property.
7. Property Management: Partner with a property management company to handle day-to-day operations and attract long-term tenants. This will help you ensure a steady stream of income and make the property more attractive to potential investors.

By using a combination of these marketing strategies, you can effectively promote your investor special listings and reach a wide audience of potential buyers.

It sounds like you've done a great job of preparing yourself for investing in real estate, and you're considering several options for your first purchase.

Regarding your consideration of purchasing in Indiana vs West Palm Beach, there are a few factors to consider.

1. Market knowledge: It's important to have a good understanding of the local real estate market in any area you're considering investing in. Do some research on rental prices, appreciation rates, and local economic indicators to see if investing in Indiana makes sense.
2. Location: Consider your personal connection to the area, as well as factors like proximity to friends and family, local amenities, and the cost of living.
3. Financing: It's important to understand the different financing options available to you in each area, including FHA loans and investor loans, and how they compare. You'll want to consider things like interest rates, loan terms, and down payment requirements.

It's great that you're taking your time to make an informed decision. In the meantime, continue to educate yourself about real estate investing and stay up to date on local market conditions.

I hope these considerations help guide you in making your decision, and best of luck in your real estate journey!