All Forum Posts by: Jonathan Oh

@Blaise Doremus You're asking if it's wise to buy a rental property that you plan on eventually moving into. So your lifestyle choices come into play as well. For ex. do you want to settle in high-end neighborhoods that won't cashflow or are you ok with B-C neighborhoods that will cashflow? I think most people in these forums will agree that buying oos investment is a great idea. But buying your first home out-of-state is a tough question that only you can answer.

@Sean Dolan I would checkout rentometer and see if Zillow provide rental estimate for the same property. This will give you a good starting point. When you find something that might be worth pursuing, start pulling together some comps or ask your agent to do it for you. Hope this helps.

@Zachary Dorff It's going to be very hard to find 1% in this market. In fact, if you find a 1% deal, do your research on the neighborhood thoroughly. Make sure you understand what type of tenants you'll be attracting. Your biggest disadvantage in investing OOS is not knowing the market. Put a lot of emphasis on networking and building connecting in whichever market you target. Hope this helps.

@Nicholas Di Giugno Turnkeys are not necessarily good at providing cash flow. But if you're looking for something more hands off where you can focus on your day job, then turnkey is a great route. But keep in mind few years after you purchase, you will have to start making upgrades and fixing wear and tear. It's not 100% passive, but certainly great for getting your feet wet.

According to Zillow, the median home value in the DFW metro is around $270k. So targeting properties under $100k, is going to be pretty tough. And you're probably going to getting into lower grade neighborhoods at that price range. Not sure what your primary residence situation is, but house hacking can be another great alternative. Live in it for a year and move back in or some other property. Hope this helps!

@Ryan Kruger Rentometer is a good resource. Zillow also provides a free rent estimate as well. If you become a BP PRO member, you can also use their rent calculator. If possible, use all 3 as a reference and you'll get a pretty good idea. But keep in mind, all these tools are only as accurate as the data they have. If you're investing in areas with lots of rental activity, the estimates are usually pretty spot on. But in more rural communities without a lot activity, the estimates can be all over the place, which is why I always use multiple sources. But even then, you need to use your best judgement. Hope this helps!

I know Real wealth network has a great reputation, but not sure about Omnikey. The key is to focus on the deal. It's a new construction so you'll likely not have as many of the maintenance issues older turnkey properties have. So make sure the numbers pencil out and that the rental demand is strong enough out there. But also make sure you vet them as a PM if they're going to be taking over management duties. This is the part that sucks about most turnkey providers. Hope this helps!

Hard to answer this questions without numbers and knowing where you'll be investing. I like multi-units because of scalability. But SFRs are also hot right now and have much higher appreciation potential if its in a good neighborhood. So it comes down to the deal.

@Tim Corbit Nice! This is why I love biggerpockets.

@Renee Fletcher Congrats on your purchase? Which part of KC is this in?