All Forum Posts by: Matt Gilroy

@Thomas S. Interesting take.  I've not thought about it like that before.  Do you prefer less/no appreciation?  I'd rather gain appreciation and pay taxes on it when I one day sell... and ideally use some of the equity as leverage for more properties.

@Dave DeMarco I've done some digging on where Florence caused flooding.  I've heard from several people that most of the flooding was NW of downtown in the Spring Lake, Lumberton and around the Cape Fear river.  I am curious how many investors buy flood insurance for their NC properties.  A few that I've asked do not, including a friend who owns a couple of SFRs.  Do you buy flood insurance in Pittsboro?  

@Karen Rittenhouse I like that the downside "crash" is less risky but not a huge fan of 1-3%.  I'm not sure that it would make me not invest in Fay but it is a downside.  

@Sam Shueh  I just listened to one of the BP Podcasts from a while back that went into note investing.  I don't recall what one it was but everything was explained very well.  Do you invest in notes?  I'd love to learn more about that.

@Karen Rittenhouse The area I've been looking into is Fayetteville, NC with hopes to have steady cash flow from military renters.  I've been told that there isn't much, if any, appreciation in the Fay area but based on home prices/rent prices, it makes sense.  Since you're not too far from Fay, do you have the same experience?

@Jim Goebel I definitely have a fear of not having much collateral in order to diversify and scale up.  If I have 15 rentals that cash flow nicely, maybe I wouldn't care as much though.  Ultimately, I'd like to get into larger multi-family and look for good ways to force equity. 

BP, 

Minimal or no appreciation, lower overall values, hit or miss area but constant cash flow.  Is there a problem with this? My strategy is to replace my income with rental properties.

Slice and dice it!

Matt

@Mike Hoefling Make sure you have a good insurance agent that specializes in cannabis.  A simple umbrella policy often doesn't properly cover you, especially since many (if not all) of these policies have specific exclusions for cannabis. 

Thank you all for the replies.  Knowing that turnover is a large downfall, how costly are most turns?  I would assume that military tenants are more respectful renters but that is only an assumption... I also know you can contact commanding officers and let them know about issues.  

Knowing turnover is more often, isn't it true that they also rent very fast (generally speaking) and you shouldn't have too much headache getting someone else in?

@Kevin Porter If you're considering selling your rentals, let me know where they are and what you're thinking for sales price.  PM me directly :) 

@Eric Ingram Spokane is great!  We've had a huge revitalization of the Downtown Core over the past decade or so.  We are currently in the middle of a $60Mm renovation of Riverfront Park, the downtown park that held the World Fair in 1974 and where the Spokane River comes right through.  I've been impressed with the way our community has been all-in on making our Downtown area a thriving area.  That being said, real estate prices have been increasing faster than a lot of places - hence my looking outside the area.  

Hello NC BP!

I hope you're all safe and out of harms way!  I'm curious how the recent Hurricane Florence and the pending Tropical Storm Michael have/will affect the Fayetteville area.  A few questions...

- With not much elevation, are you seeing homes flooding again?  

- Do you purchase federal Flood Insurance for your rentals?  If so, what are some average annual premiums?  Have you seen a massive price spike after a major event (like Florence and likely Michael, or Matthew a couple years ago?)

- Are you seeing a lot of homes that were flooded be vacated or are a lot of homeowners/renters repairing?

- How far along in the recovery process is Fayetteville?  

Thanks!!

Hello BP!

I've been looking at out-of-state investments and have been very interested in SFR within a 30 minute drive of large military bases, specifically in Fayetteville near Ft. Bragg / Pope Field. I'm looking for input on what to be cautious of and folks who disagree with this strategy.

Thoughts?

Thanks!

Matt