All Forum Posts by: David Hutson

@Joseph Chantry,

In short, no, but your close to an amount where you can get decent tenants.  Most of the cities you mentioned need a slightly higher price to get consistently better tenants.  You can find a handful of homes here and there for under $60k but just over that and you can get good tenants.  Memphis is where I'm currently buying. I have purchase 12 in Memphis in the past few years and very good properties are very difficult to find at the price point you mention.  I have a few but they aren't easy to find.

@Wes Blackwell,

Welcome to the group.  There are plenty of investors here in Sac so you should be able to stay pretty busy if you can find good homes for sale.

Check out the local REIA's and Al Williamson's meet ups if you want to make some contacts.

David

Welcome Robin,

You definitely need to check out some of the REIA meetings and Al Williamson's meet ups. Sacramento has lots of active investors, brokers, contractors... who attend these meetings. Many of these people are looking for the good, off market deals.

@Sheldon Alex,

It is almost impossible to get into investing with no money and no experience.  You definitely need to find a partner or a really great deal.  Wholesaling is realistically the only option for you around here.  Wholesaling will be difficult, but possible, locally since we have hundreds of wholesalers locally.  I'm not trying to discourage you but want you to know what to expect.  The best way to move forward is go to all of the RE meetings you can go to and try and build relationships.  Hopefully you will be able to make a few connections and split a few deals until you can do you own.  Good luck.

@alexander,

I wouldn't say that Sacramento is poor, I'm saying that other places are much better for me.  I am looking for long term cash flow.  Sacramento is more of a hope for appreciation play currently, in my opinion.  Also, not everyone is comfortable investing in other states.  I sold a fourplex I have held for many years and purchased four properties in Memphis and will close on a fifth Friday.  There I am easily earning over 10-13% and that's after management, repairs, vacancy, tax and insurance.  That's the good part.  The not so good is that the house I paid $70k for will be worth $75k in 10 years.  For me, I feel the long term cash I receive will outperform the appreciation I will get here if the prices stay up or are up when I would sell here later.  You can PM me if you like and we can chat on the phone if you are interested.

Welcome Justin,

The options are unlimited.  You need to decide where you want to be and what type of investing you want to do.  Are you looking for single family homes, multi-family, what returns do would you like to earn, what class of property do you want to invest in.  Luckily you have the option of investing anywhere and you are able to move where the properties are.  I am local to you have been investing here for 16 years and finally selling off homes here and purchasing in another state as the returns are better.  This isn't a good place to get cash flow.  Message me sometime if you would like more suggestions be everyone here will need to know more about what you are looking to do.

Morning,

Unfortunately I don't have a great response as to the cost but I did notice you stated it's a condo. Do you have a HOA? If so, if your HOA is like others you may need to get approval from the board to replace windows. That would be an issue since you have a limited time.

A quick way to get an accurate answer is to check Yelp or Angie's List for window repairs in that city and call a few highly rated companies.  My guess is that it won't be too expensive, probably $100-$200 to fix this.  It's definitely not worth losing the tenant or having to try to get a third inspection.

David,

I am local also and invest outside of CA due to the better returns.  Definitely open to meeting up with local like minded people.  We have had a few meetups in the area and there have been many relationships started at those.  Message me if you are looking to meet with others and set a date.  I know @Pat McGrath is investing and we have similar goals. 

Welcome, this is definitely a place to learn about investing and if Memphis is where you want to invest you will find many local people and companies to help you along the way.  Check out the Memphis Investor's Group.  They meet monthly plus there are other meetings within the group.  I made sure when I visited Memphis in March that I attended the meeting.

Good luck, David

Evening all,

I'm in the same situation.  Has anyone found a good lender?  I'm going to call Visio tomorrow. Thanks.