All Forum Posts by: Maureen McCann

Hi @Sam Foltz, there's not much else I can say that @Dave DeMarinis hasn't. Huntsville is very attractive and it is for good reason, Huntsville is a great market for cash flow investors. There's job growth and the city is having a huge makeover. Property values are growing and the rental demand is higher than ever.

Best wishes!!

Welcome to BP @Natalia D Orosco!! You are in a great place, as you said BP will give you a platform to make new connections, find mentors, and even meet a lot of investors and professional face to face at meetups. I'm also glad to see that you found a method you are drawn to! So don't hesitate to ask the BP community any questions you may have, if you have a question, chances are that another new investor has the same question.

Best wishes!! :)

Welcome to BP @Adam Carbone, congratulations on graduating school debt free, not many can say that!! I saw that you referenced that you would like to supplement your teacher's salary with passive income from your properties. Have you looked into turnkey, it may be another avenue to look at. I am biased to the turnkey method, but BRRR is a great option as well. You already have a very attainable goal, YOU'VE GOT THIS!!

Best wishes!!

Hi there @Anthony Van Gilder, I see everyone is saying the same thing, do you due diligence. They are correct! I am biased on the turnkey method, but I do try and give sound advice where it is needed. 

Run your own numbers!! Every turnkey company will provide you with ROI information, but not all of the information is made equally. Double-check that they have included insurance, vacancy and maintenance taxes, etc. whatever assumptions the company makes in their pro formas, you need to get the data that backs those up - what are they based on? Confirm that you understand the math. If you don't understand it, tell the company that you need them to walk you through the information. If the turnkey company will not walk through this with you, that's not the company for you.

Do research on the areas the properties are in. Yes, get info from the turnkey company, but you also need to do some research on your own. Ideally, the research you do will just back up what the company is saying. BUT companies will advertise a property as being maybe an A when anyone who lives there would tell you that area is a C. Checking Google Earth is a great first step.

Of course, market research is crucial, but nothing beats looking people in the eye. I usually
recommend that people take the time to visit their top two companies before pulling the trigger, just to really narrow down their decision. Any decent turnkey company should be ready to give a tour or even have scheduled ongoing tours. They should be able and ready to show you some props, take you around town, answer questions. If the turnkey company ‘can’t’ accommodate a tour, again, move on.

Don't forget that you have a great community here on BP that would be happy to answer any question you have going forward on your REI journey!

Best wishes!!!

Welcome to BiggerPockets @Esmeralda Florez!! BP can be a bit intimidating, but don't ever hesitate to ask a question. Many other new investors may have the same question. California is pretty pricey, OOS investing isn't impossible to do where you are looking. I don't have experience in this market, but I can give you a few OOS investing tips that can help you on your journey.

Out of State investing can be daunting, but there are definitely ways to do it successfully. Whether you’re investing out of state or one street over, the number one priority is data - statistical data- on vacancies, maintenance costs, average length of stay, eviction rates and average move out costs, the list goes on. don’t put your money into a new market without getting a firm handle on the data first.

Do research on the areas the properties are in. The properties can be in an area rated on an ABCD scale (some investors have a broader scale, this is a bit easier to rate properties on). Doing a quick Google Earth search can give you a basic view of the area. Nevertheless, seeing the neighborhood in person and getting a lay of the land is your best bet. Plus, San Antonio and Houston are very beautiful cities.

I hope this helps you a bit!

Best wishes!!

@Mike Loew, that makes sense, the Midwest does have ample opportunity for REI. You look like you're on the right track. Start researching the turnkey companies on your list and compile a few questions you may want to ask them.

Best of luck!!

Hi @Mike Loew, welcome to the BiggerPockets community!! I will start by saying that I am a bit biased when it comes to the turnkey method, but if you are looking at a passive income it may be a great option for you. The next step is to figure out what market you want to invest in. Do you have an idea of the market you would like to invest in?

Hi there @Edwin L.!! Thank you @Dave DeMarinis for the recommendation!! Huntsville is a great area to invest in, Birmingham is another great area we work in, as well. If you area looking at Midwest areas, I see someone has already recommended Cleveland, I wanted to recommend Milwaukee, Wisconsin as another option for you.

Best wishes!!

Hi there @Mike Shahi, it looks like a lot of people have said what I was going to say, you should look into a few turnkey companies in the areas you are looking at. I am a bit biased on the turnkey subject, but I like to try and give the best advice possible. 

Do research on the areas the properties are in. Yes, get info from the turnkey company, but you also need to do some research on your own. Ideally, the research you do will just back up what the company is saying. BUT companies will advertise a property as being maybe an A- when any local would tell you that area is a C.

A good first step is just looking at the property and the neighborhood on Google Earth and seeing how the property looks, is the house unkempt, how appealing is the neighborhood, etc. If you don’t think the property class is correct, then the company may be inflating the property class so they charge more. If the prop is listed as an B- but a quick Google Earth shows tire-less cars on lawns and peeling paint, it’s time to walk away.

Of course, market research is extremely important, but nothing beats looking people in the eye. I usually recommend that folks take the time to visit their top one or two companies before pulling the trigger, just to gut-check their decision. Any decent turnkey company should be ready to give a tour or even have scheduled ongoing tours. They should be able and ready to show you some props, take you around town, answer questions, shake your hand. If the turnkey company ‘can’t’ accommodate a tour, again, move on.

As @Cassidy Burns said "Your first RE investment is always the most important, study, study, and then study some more."

I hope this comes in handy for you!

Best wishes!! :)

Exactly @Ulises Delgado!! Even if you aren't investing in RE you can make extra money selling properties. You are on an awesome path right now, KEEP IT UP!!! If you have any questions that pertain to your real estate classes, BP has a lot of real estate agents who would be happy to answer your questions.

Best of luck!!!