All Forum Posts by: Joseph Bui

 In Memphis it’s becoming increasingly difficult. This is why I’m shopping more in the Detroit market now. 

 Cash flow can be found in the right markets. In the midwest markets I shop, cash flowing deals can be found with 1% rule or better.

I've purchased in Detroit and Memphis over the last few years. I still see great deals in Detroit and there is a lot of media buzz around Detroit for its rise in values and upward trajectory. Lets connect and I can share some of my resources.

This is a personal question, but, personally, it would depend on how much you are stretched to buy a primary in Miami. To me, if you you are stretched too thin, I would suggest investing out of state. This way you live where you want but stay invested in real estate. I'm based in Seattle but do most of my investing in midwest markets since the Seattle area is way too pricey for me. Happy to connect and knowledge share if you are interested.

I am based in the Seatle area, but I mainly invest in midwest markets and have scaled to 9 doors. First thing I look for is the 1% rent to price ratio minimum then research on the markets appreciation potential. With the rent to price ratio, I'm just looking to cash flow, but mainly to sustain my investment. The real wealth is built with the appreciation over time. Happy to connect and knowledge share if you are interested.

Hi Ben, I'm also based in Snohomish county. The area is way to pricey for my budget so I do all my investing in midwest markets (Memphis and Detroit mostly). Most of the time I do the BRRRR strategy and I have scaled to 9 doors now, one of which I'm planning to flip. Happy to connect and knowledge share if you are interested. Would even be happy to meet in person since we are in the same area.

Hey Abhishek, we've spoken in the past. I've purchased to turnkey properties in Memphis. Happy to talk again and share my thoughts on turnkey in Memphis. Overall, if you aren't meeting the 1% rule, I wouldn't do it, but, of course, there are exceptions to the rule.

A few of the doors I own are in this situation. As long as I'm cash flowing, then I just slowly raise the rents over time.

 Equity build is the key to wealth. However, it’s a gamble. For example, I’m based in the Seattle area and everyone believes Seattle will appreciate and has already appreciated very well in the last 5 years. While this is true, Seattle got beat out by many lower priced markets like Detroit and Memphis the last 5 years. My philosophy is get cash flow to maintain your investment and wait till the appreciation comes. We have no idea when that will be or which cities will appreciate the most. It could be 10 years from now in the city you choose. If your are cash flow positive, you can weather long term through emergencies and other problems that could arise while you wait. 

I've done several BRRRRs in a couple midwest markets (Memphis and Detroit). In all my deals, I've left a few thousand after refinance. Its good that you are ok leaving a a little bit in the deal but its hard to get it all back these days. Would be happy to connect and knowledge share about what you are seeing in your markets.