All Forum Posts by: Matt Deibel

@Joe Conklin I did a lot of networking and a lot of asking questions.  Yes turn key, let me know if you're interested in seeing some info on the properties I bought, I'd love to share.

@Amanda Garcia unfortunately I agree,

@JT Spangler makes a good point.

I'm curious what the value of the property has done since you bought it?  If its gained value maybe now is a good time to sell and put the money into better performing investments.  There are many resources on the website regarding how to operate effectively as a landlord, but ultimately it comes down to the person.  There are many great places in the US to invest, usually the best markets are not the ones you live in.  You can find an investment property that is managed professionally and still be doing better than the numbers on this one.  Food for though, let me know if this interests you.

@Joe Conklin Congratulations! Getting the first one is such a big step, it builds your confidence and makes the dream become that much more real. My one piece of advice on this one is be careful with vacancies, especially with the HOA. Whether you use property management or not, treat the tenant as a human. Write a postcard, let them know you care about any issues they have, I even send a gift card each Christmas to my tenants. These little things can make a huge difference in vacancies.

For your next property, I'd encourage you to look out of state.  There are many great rental markets out there where you can find killer deals.  It might seem scary, but just like this one, once you purchase the property and get over that hump, you'll never look back!

@Joshua Durrin don't give up!  Feel free to ask me questions any time, I'd love to help you find your first property.

@Skip MacKenna what kind of properties are you going to be rehabbing?  Investment properties or primary residences?

@Gilbert Velez do you have any idea of what kind of rental properties you are looking to invest in? And what area? I currently own several, both SFR and MF, out of state, there are so many great markets in the United States don't be afraid to venture outside of NY.

@Judy Parker wow you are a true warrior!  Do you think you'll ever leave the day job and go full time as a real estate agent?

@Phillip Gonzales don't limit your opportunities.  Having the license is going to open up tons of doors.  Read around biggerpockets and get a feel for all the different opportunities you have now!  Keep in touch I want to hear how it works out for you.

Shruti,

First of all, there is no right answer to the type of investment you should pursue, its all about you and your investment strategy.  In my opinion, the following investment would need to be in a good area (A-B+) and have very minimal repair costs.  This kind of investment would also need to be in an area that I would expect appreciation.

As far as managing out of state, I think using a property management is your best bet.  Working with family, although it sounds nice, can cause lots of issues.  And managing from out of state is very difficult, although it can be done.  I see it as, spending the money for property management saves you time and possibly money, all of which can be redirected towards investing.

Texas is a great market, but depending on what you are looking for (appreciation, cash flow, etc...) there are a lot of other great markets out there.

Hope this helps!

@Trevor Jones 

Great goals, and such a great place to start. I am working on getting my license right now, expecting to have it by mid March. I have been investing in real estate since 2012, and own both SFR and multi family, all out of state. I don't think CA is a good place to invest in rentals, the laws/courts favor tenants over landlords and the numbers just aren't there. Let me know if you have any questions, I'm always looking to share what I've learned.

@Todd Campbell 

I own a property in Austell, GA - I like the Atlanta market I think there are a lot of possibilities there.  Unfortunately I live on the other side of the country.  I'm jealous that you live in such a great market!  Anyways, I'm always looking for contacts in the Atlanta area and it looks like you got a lot of great goals.  Hope to work with you sometime in the future.

Hey Lorenzo, I'm currently pursuing this same path.  I've talked with many different people about this, and although I haven't done it personally, I believe it is totally possible.  But, it depends a lot on your full time job, you, and communication.  If you can take phone calls and work with some flexibility that will help tremendously.  Free time you used to have outside of work will shrink dramatically depending on how many clients you are working with, this includes weekends.  And as long as your clients are aware of your situation, and you make them comfortable with it, there shouldn't be a problem.  Some food for thought.

The major benefit, extra capital to invest!  I think its worth it, and can't wait to get my license.