All Forum Posts by: Jennifer Slaughter

welcome @Billy Barnes! Get some networking cards and start meeting like minded people, there are a lot of meet ups between Fort Collins and the Springs. I think networking and human capital is your greatest resource but you can also access the VA loan (for owner occupy) and your local small business development center if you decide to go the route of creating a business plan/financial projections. Good luck!

haha thanks for sharing this.  I was at a meetup last night and people were going around the table sharing their DM stories. Very entertaining. I have had your second example happen before.  Do you have a picture on the DM and do you have to disclose that you're a realtor in TN?  Last night our consensus was that a picture helps and sometimes people are turned off by the realtor disclosure.  Good luck!

In Memphis I have 1.2% and in Northern Colorado I have .8%.  Thanks for sharing what you're getting in Dallas!

Hey @Michelle Groft, I grew up in the Bay and now I live in CO and I also feel like my investment options are limited here.  I always keep my eye out for local deals but I have invested in Memphis and have had success.  I would look for a team that has everything you need in house- property management, maintenance, acquisition, etc.  I would also make sure they are well established, are willing to give references and have a solid BBB rating. 

Hey @Farakh Zaman, I spent a week in Ewa Beach a couple years ago with a friend who was local and I can't wait to go back. I live in Fort Collins now and I hear you, it is a struggle to lock down a property anywhere in Colorado. When I was making offers last year, what I experienced was that most of the other investors were cash buyers so that really isn't a differentiating factor the way it could be in other markets. My idea has been to 1. Do the market research, 2. Make a plan, 3. Take action, 4. Be flexible, 5. Revise plan, 6. Repeat

Since you're open to other markets I think you should find a market where you can purchase a property that will help you meet your goals. After going through what you went through in Colorado I chose Memphis and it has been very good to us. 

So I would say, no, don't give up!

You can also do a google search for your county assessor and look up the owners information based off the street address. You mentioned you were new to investing so I would make sure I was comfortable analyzing deals and knowing a purchase price that made sense plus comps for the ARV before reaching out to the owner

Hey @Lee Warren, welcome! I have had a great experience with James Wachob in Memphis. When I was picking a TKP I got references and I was looking for someone who would steward my investment the same way I would if I wasn't long distance. It's also a plus if the provider has the flexibility to do something like a BRRRR if that's what you're interested in.

I'm from California and go to SD often so I might diversify with a short term rental in your neck of the woods if I can find the right deal!

Hey @Bhavik Patel in regards to question #1, I think it depends on the market you are in.  I had initially planned on investing where I lived.  After months of making offers and bidding wars and such in Colorado I began to research TK and I landed on Memphis.  So while I continued making offers in CO, I connected with a TKP, renovated a house in Memphis and got it rented out...all before I finally closed on my rental in CO.  So if you live in an area that's getting great returns I think it's a no brainer to invest there but places like CO or CA, I would consider TK.

@Tomer O., great intro, I enjoyed reading your post! Welcome to BP, you're right, it is an awesome resource.

Hey @Albert L., I understand your hesitation and I remember feeling that way before we invested OOS in Memphis.  I think I tend to be more paranoid so being diligent about due diligence gave me peace as we were doing our first deal.  From what I understand, it takes 30-45 days to place a qualified tenant and I wouldn't compromise on a PM company that has less than stringent standards for a tenant because a troublesome tenant will eat away your cash flow.  If you are buying TK, the provider can begin marketing the property to tenants during the renovation period which will keep your vacancy rate low.