All Forum Posts by: Johnny Wolff

@Ali Boone - think the SFR definition of the C/D area is open to some interpretation. But as a KC local, I tend to think of homes east of Troost as C-/C and that east of 71 as D. One of my properties just west of Troost (the "good" part of town) has had multiple shootings in the neighborhood in the last 12 months...

Trulia/neighborhood scout are more dependable than I am, but when I see crime scores in the 90's I typically try to be careful unless the area has very strong income and population trends.

Love the 4-plex house hack idea.  Think it's better to look at % returns vs. per door returns since that's the true measure of the success of an investment.  If you put down 3.5% on a house hack getting those types of returns are going to be a challenge in any market (except Detroit...).

The good news - on a house hack like that - with lots of leverage, your ROI is gonna be through the roof :)

Makes sense - have you run the ROI numbers of properties in Fresno vs those in Sac? Cashflow is awesome - but when ROI numbers are substantially better in a hotter market it's definitely worth looking at.

@Samed Arif - What hourly rate are you offering? Once we were at bit above the market rate that stopped happening to us.

@Jason Ling - pretty sure that most innovative prop-tech companies have their toe dipped into more advanced analytics of RE data.

The fact that Redfin will make you a cash offer / other i-buyers tells me they are pretty confident based on more advanced analytics.

As matterport becomes ubiquitous, I think it will create larger big data opportunities for real estate (I'd assume they are working on this now).

RE data is fragmented - but the big players with nationwide reach and tech culture are definitely taking the Astoria you're taking about

@Laurie Wang - I bought new construction in Austin in 2017.

I don't think your concerns about appreciation match what I saw. The builder actually had future development groups listed at a higher price - forcing appreciation. I've seen substantial appreciation on my home there.

Do think self management of properties in ATX is pretty easy (especially new construction). Tons of renter demand. Lots of good (but expensive) vendors all over. Definitely get a smart lock if you're remote managing (DM me for my favorite). It's a life saver.

@Dustin Perkins - think @Alyssa Dyer's answer is spot on.

These high yield props are much harder to manage and in some such areas you can get into a jam if you lose your PM

1) No other good PMs in the area

2) PMs in these higher yield areas can be picky and choose not to accept properties that don't rent for $1K or more per unit.

Recommend you call a few other property management companies and see if they'd take the house under management in a pinch

I do love shiny objects :)

Thanks - for that testing concept.  Sounds great.

Hi @Vanessa Haw!  I live in KC.  Where is the house you're purchasing?

Not much to add here. In REI there are no problems too big to solve. I've purchased a home with roof issues, foundation issues, HVAC issues, furnace issues. Was that a good idea? Sure was, because the numbers still made sense. Don't let one thing scare you, except bad proformas, and you'll be just fine.

@Account Closed - thanks!  One day hold sounds soooo much better.  Thank you!