All Forum Posts by: Neil Polehn

Wow, just went I thought I was narrowing things down!  Hummm.  That definitely as its appeals including limiting the number of buyers willing and able to make that purchase.  I have a back ground in accounting and finance, so I could do the numbers, but how you protect yourself?  See so many newbies post on here on the "great" deal they made when everyone sees the red flags they don't. I will add reading a book on commercial property to my list. Do you any recommendations on where to start on education? Thanks!

I want to jump back in and do that first deal so bad I can taste it, like the turkey cooking in the oven, but every choice I make limits the next set of possible choices so I need to do it right from the beginning. The easy route is to nice turnkey cash flow deal with decent return and move on to the next one with my 500K budget. Though with only 10 consumer loans available and three used up, how many deals of $200 a month positive cash flow can I afford to do and is that really the best ROI i can do?

I have been spending about 3-10 hours a day reading and educating myself on RE, and I realized I really didnt know what I didnt know.  I also am from Ca, so out of state is a likely option.  In which case should i try to value add by doing a brrrr, or go with a partner, and how do I find  a partner? Where should I go to really drill down, learn the market and build network that's a balance between inventory, appreciation, and cash flow?  It's easy to find one or two of the three, but all three is a challenge it seems like and everyone has their opinion.

I am thinking I need to find a process that fits me, as I am good at analysis, but I'm not a salesman.  Then I need to find a location that gives the most chance of success, where I can start drilling down into the submarkets.  After a couple weeks of research this is where I am at, does any of this make sense?  Or should I "go fish".  Thanks!

Neil

Hi James,

I have been reading and researching for at least 10 hours a day for the last two weeks, because when I get into something I am all in.  I have discovered that what your saying is exactly true, lots of sub markets even within a market.  I need to decide on an area and learn the sub markets, and Cleveland is on the list.  Thanks this is really helpful!

Hello All!

I think the money is made when you make the deal, so finding great deals the way to go.  What is the best way to find deals out there for a non professional investor?  I have time since I retired early and 500K to invest, but i want to do it right from the beginning when I have the money to invest. I would like to find a good location with decent cash flow and solid appreciation then find deals. I am willing to do the work and research, but what is the best way to focus my efforts?

Thanks!

 Neil

Hello Paul,
Thanks so much for your advice! I was thinking the same thing about using my 401K to invest passively.


"It is very hard to find a fairly priced deal anywhere right now."  I hear what you are saying, my biggest problem now is deciding where to invest and the best stratergy for the money I have. I think it's better to  measure twice and cut once, so take my time.  It's strange to see my checking account balance, but the stock market seems much too high for conditions. So I will listen to you'll, do my research and likely try a couple different approaches.  Thanks!
Neil

Hey Guys, 
Great feedback!  My strengths are my creativeness, for example, I talked my ex into giving me a 1K a month in exchange for splitting the appreciation on my condo, which is a win win for both of us. I have trouble standing up to contractors, but i've done several renovations and even a forced remote flip. I have 100K in income and great credit, so I can qualify for loans at good rates. I have TONS of tenant experience and scars to prove it.:) I can be to trusting.

I am doing this as much because I like it and need something to do with my time,.  As for the money, which I don't absolutely need, I do want to be $ rewarded for my work, and hey, who doesnt want a new car and a nice vacation? I love rehabbing property and seeing the finished product, but a bit weak on the design taste though working on it.

I would love to brrrr or flip, but honestly I would have to partner on the flip because I don't know anyone where i would do it and need someone who is more experienced. How realistic is it to find a good partner for that?  Wouldn't the good ones have enough to do their own flips?
If the flip didnt work I would structure it so I could rent it out and buy and hold and be postive, so I didnt lose my shirt.
Of course, location is everything...

What do you think?  Thanks!

Interesting thanks.  I just love older homes and bought a house with a guest house in Roseville, which needed remodeling and new electrical, the back unit as well. It was 225 then due to the work needed and the seller wanted out fast. I had to fight to keep the deal since my credit was recovering from the 2008 meltdown.  Since then I have seen the rents go up and it's close to1500 a month positive--I wish I could have done more!

Now returning to the scene of the crime and hoping for good luck again:)

I knew nothing back in those days, i have a super high stress job and just didnt want to deal with it because he didnt do anything I never had any maintenance bills until tenants moved out. I felt loyalty to him because he was a great manipulator and the agent who sold me the properties, so he must be an expert, right? Now I would never get a "part time" PM, but some lessons we need to learn the hard way I guess. 

Hello Enrique,

Thanks for the suggestions.  I could use the most help picking the market.  It's overwhelming with all the options, but I know some are better than others but I am not sure the best way to evaluate them.  Thanks!

Neil

Hello All,

I am returning to RE after taking 6 years off, as last purchased a MFR in Roseville that was an amazing deal in 2014. I would love to buy here again, but do the number still work for buy and hold investing? Thanks!

Neil