All Forum Posts by: Nicholas Morris

Thanks for the response jon. I have basically been using a p&i calculator and then estimating expenses at 50% of gross rents, the same as you. My plan is to setup a weekend where i just go down there and look at properties for a couple days and pick a rea's brain about the area. its only a 3 hour drive for me to pheonix and maybe 4 to 4 1/2 to vegas so I think these will still let me view properties and get out there when I want or need to. I think for out of state investing, if i get a hold on what the actual value or properties are in those areas, i will probably go for a turnkey then do some research and get a proper property manager.

I appreciate the remarks guys. I am going to have to start trying to network and get some info on certain areas and managers in those areas.

Hey James,
I have a question. On your analysis you posted Principal and interest. So does that mean you came out of pocket 50k and then financed 50k? Because if its 100k and youre getting 825 in rents then i can get that in Cali in a very good area. If its 80% of the 50k then your initial investment is 10k and your roi is 31% (not including tax benefits and principal reduction.)

So from just a few reponses it sounds like it may be difficult for a novice investor to start this way.

Hey Micheal. Are you a novice or experienced investor? How do you go about actually finding, then looking at the properties and do you do it with a lot of properties at once when youre there? Also, when youre not from an area, how do you find a good property that will screen tenants properly?

I live in california but want to invest for cash flow, not appreciation. I've done some research on prices in some of the areas people talk about on here where monthly gross rent multipliers are as low 30-50. Is this even feasible when youre not in the area and you are starting out with less then 50k to invest?