All Forum Posts by: Jasraj Singh

@Jasraj Singh I’m curious as to why they invested in Texas. I own a duplex in CA and a wow house in AZ. I would like to purchase another investment property and am curious as to why They invested in Texas? All information is appreciated. TIA

I am the manager  

i agree! Thanks for your advice!

I’ll definitely look into that!

@Jasraj Singh

First going through inspections I look at the conditions of the big ticket items: roof, plumbing, heating and air, electrical, things like; and then the cosmetics. I try to determine if its a big fixer or a cosmetic fixer to be able to get it rented. This will also help you negotiate the price or offer. Consider the age of the house when looking for properties, this will tell you a lot.  

As far as the numbers, I look to see if they make sense with the current rents that they bring in. Since I'm newer I like to over estimate my expenses (PM Fee, Taxes, Debt Service, Utilities, Capex, Repairs, etc.) and underestimate my income. Also consider the debt coverage ratio the cash flow provides. Each property will have different expenses depending on if your required to pay for some utilities or not. You will absolutely need reserves, don't skip this part when you're running your numbers. Check a few different sites and talk to property managers about the market rent potential and what you would need to do to get them there.

At first I just looked to see what the cash flow would be with properties, now I also look at the Cash on Cash return as well. Your parameters will vary based on what your goal is. Mine right now is just to build a portfolio and pay down the debt and get the tax benefits.  

@Jasraj Singh I agree with the recommendations for the long distance investing book by David Greene. My wife and I purchased nine units in a city 9 hours away from us. We picked our market, then I decided to establish a strong network first. I picked up the phone and called brokers, wholesalers, agents, attorneys, contractors and, most importantly, property managers. After I shifted through them and formulated my team, we proceeded cautiously. It is a trial and error but, if your numbers work in that market, you can do well. I definitely recommend chasing the numbers and not being isolated to your local competitive market. It’s definitely doable!

 Totally agree. Had no idea other countries dont offer a tax deferred exchange. 

I'm just about to close on a sale, doing my first 1031. Never thought I'd sell any rentals. But, times change :)

 Lots of kinds. Short term long term single family small multi. 4 different markets. All self managed with a day job and a family. 26 doors 

 I wouldn't necessarily recommend investing IN another country, unless you know what you are doing.

Real estate investing in the US is great because of long term, low interest, FIXED financing.

Highly recommend to explore, travel, and live outside the US if you can :) Try it, and see if you like it.

 Yes. If you cannot do your investing long distance, you aren't "investing", you are "working".

Don't confuse flipping and being a landlord with investing.

I recently opened an LLC in Ohio Cleveland, plan to buy and rent out a property and live in Dubai. I would say and from what I hear, you need to find a GOOD property manager which will make all the difference.