All Forum Posts by: Mark Albini

Hello, and happy 4th! Welcome to the world of RE investing. It is a fun and addicting one when you realize how much potential earnings there are just ripe for the picking.

I would suggest investing out of state where your $60k would go a lot further. I have helped many people from California invest in Evansville Indiana. I used to invest in California and lived in Oceanside for a long while. 

Your capital goes a lot further here. I have helped a gentleman in his mid-50s start with only $30k and acquire 3 properties in under 6 months with a cash flow of $500-600 profit after expenses. On average you will see between 20-30% ROI annually. I don't go under 10% ROI and have seen peaks of 50% ROI annually.

I am a licensed realtor here and if you're interested in Evansville, I'd love to talk to you more about it.

It all depends. I don't know why the person comment keeps business separate. Then how do you get started? 

I would look into what a refinance would look like, interest rates, monthly payments. Can you afford the new mortgage payment without any additional income, that's very important.

Do you have a house lined up for using the BRRRR method? Do you have a lender who will be working with you on the BRRRR cashout? Many new investors tend to find that finding a cash out loan is a lot harder than some make it out to be. Most of the time, it's based on a relationship with a good lender or broker.

@Ruben Esparza Hey Ruben ,

You are right. That money is absolutely worth investing to generate some positive cash flow.

I like that you have already thought of the Midwest. I used to live and invest south of Camp Pendleton in Oceanside and Vista. And you know. 20% down is, if not more, than $100k. Yikes.

I am now in Evansville Indiana, and help many OOS investors like yourself achieve financial freedom with long term buy and hold.

That $120k out here can go a long way and produce 20-30% ROI annually while allowing you to diversify.

Diversification is key as it allows vacancies, non payment, etc to not affect you as much.

Let me know if you'd like more info

@Jose Gonzalez hey Jose, congrats on starting investing!

150k is a big chunk of change for someone to save up!

I'm curious, what has made you decide CT? I was born and raised there for 19 years. I have since been all over investing. Even in California where the median in the city I was in was $500k! Yikes.

I have now moved and invest in Evansville, Indiana.

I have been helping my family sell all their rentals in CT and invest in a more investor/landlord friendly state where their money goes a lot future.

Have you ever thought of investing in the Midwest ? As that same $150k can buy 3 to 4 properties all cash flowing 20-40% ROI annually( after expenses of course) I'd be more than happy to talk to you about it

@Uzma Abdullah Hey Uzma, I would recommend adding Evansville, Indiana to that list.

I am from Southern California as well. Started in 29 Palm (USMC) then Palm Springs then Oceanside.

I can tell you, as you know, that market there is absolutely crazy to try to invest in, 20% down is nearly 100k!

I have since moved to Evansville Indiana and have helped many investors, like yourself, from California start their financial freedom here.

It isnt a one horse town as most people think the Midwest is. We have a booming inner city with a rural outskirts. Approximately 118k people live here across 50 sq miles. Mostly blue collar workers.

We have a multitude of demographics depending on where in the city you reside. There are different neighborhoods, some median price ranges from 50k and others that give you that feel you're back in a California HOA of $1m+ homes.

I specialize in the rental homes from 30-75k as they have a low cost to purchase (typically $10-15k) and cashflow between 20-30% .

If you're interested, I'd be more than happy to talk to you about it.

 Only local ones. Where are you at?

Hey Ryan, 

Personally. I would reinvest in a market that can make you way more for your $460k. In my market, $460k worth of paid off properties would equate to about $4500 in profit per month after management fees, insurance, and taxes. Also, being in a different market with multiple properties would allow you to diversify a little more to allow more safety in number if a vacancy happens, squatter, repairs if someone destroys it. Having all your eggs in one basket may be troublesome in the future.

I'd be more than happy to talk to you more about this and even my market in Evansville Indiana if you're interested.

 Cost of acquisition and the inability to diversify. 

I have a few investors that were in the Florida VRBO market that has since sold their rentals there and moved to where I am at, Evansville Indiana, the problem was the cost of acquisition, not allowing them to diversify in too many properties, and the turnover there.

That is a great question! Find the loan first. You'd rather be pre approved first and know what you are looking for, rather than finding a place that you really want, just to find out you don't qualify.