All Forum Posts by: Norman Berman

Hi folks,

Wowwww I am so pissed at my home state of California right now: 

I am planning out of state investments in buy-and-hold multi-family properties. (Insert standard California refrain: "It's too expensive here")

I was planning to form an out of state LLC to avoid California's annual $800 LLC fee.

However, California law requires that if an out-of-state LLC is managed from within California, it still has to pay the $800 annual fee!

This will destroy CoC return on my first property. And it means that I have to hold all my properties under the same LLC unless I want to pay the $800 fee for each of them.

Are there other options I can consider besides an LLC, which would avoid this fee?

Thanks!

Hey folks,

I'm researching OOS regions for multi-family buy-and-hold. Some of the data points I'm evaluating are:

• Population growth rate
• Unemployment rate
• Job growth rate
• Wage growth rate
• Median housing price
• Median rent

I'm wondering where to find the best online data sources. I know that a lot of this information is publicly available, but when I go to a place like the Census Bureau website, I don't even know where to start, it's so huge.

I would be surprised if there aren't a few online tools that aggregate this kind of data?

Thanks!

Hi folks,

I'm researching multi-family investments in out-of-state regions, since my local region is too expensive. I'm planning a buy-and-hold strategy.

I've identified 5 different cities that interest me, but obviously have to choose one. Knowing the cap rates for each region would certainly help me narrow it down -- and quick! I've looked on the popular realty websites but they don't reliably list all the due-diligence info I'd need.

I realize this is something that my agent could help with, but since I haven't identified my target region yet, I don't have an agent yet.

Are there online (or other) resources you'd recommend for finding this info?

Thanks!

Hi folks,

Total noob here, planning to make OOS buy and hold investments. 

As I learn more about this business, I think one of my biggest weaknesses is that I know nothing about house construction or rehab. 

I grew up in a tall, downtown apartment building. When something broke, we called the "maintenance office." The heat just worked, the stove just worked, the plumbing just worked. The roof was 16 floors above us so I never had to think about rain. Utilities and cable TVwere included in the rent. We weren't allowed to rehab the place.

If the only way to make money in a buy-and-hold strategy is to find deals and rehab them before renting, then I have a lot of learning to do. I don't know anything about construction, design, materials, or weather-proofing.

What do you think is the minimum set of knowledge required for an investor?

What resources can I use to start learning?

Thanks!

Hi folks,

Total noob here. Reading books, but could use your sage advice.

I'm seeking my first 3 to 4 buy and hold investments over the next couple years. But my local area is too expensive, so I have to look to invest out of state. 

There are specific regions of the country I'm eyeballing, but they are broad swaths (PacWest, Great Lakes, etc.).

I need to narrow it down to specific cities.

What are your tips for how to evaluate, from afar, the right OOS cities for investment? What economic and social indicators should I look for?

Thanks! :-D