All Forum Posts by: Patrick Drury

@Mojgan Nematollahi
Definitely ask your agent about which neighborhoods have a POS inspection. Those are the worst.

@Wesley Myers
In my opinion, you need to think about it as a hotel business. How would you feel if you paid money to stay in a hotel and they didn't have cable and couldn't watch the game? It's not a deal-breaker, but it's kind of a letdown. It just reflects poorly in my opinion, as a customer experience. 

@Chris Hamilton
The best way to get seller-financed deals is to start cold-calling sellers yourself and build a relationship with them. People are not going to seller finance a property unless they know you and have a relationship with you. That's what makes it hard about relying on an agent to find seller-financed deals for you. 

@Autumn Northey
I would recommend looking at Columbus OH. You can get good cash flow and solid appreciation at the same time. Columbus has a lot of job opportunities and population growth. Especially with Intel coming to Columbus as well as Hyperion, which is a company that makes hydrogen fuel cells. Columbus is home to the HQ of Chipotle, Wendys, White castle, L-Brands, and Hunnington. Columbus is also home to OSU, which constantly develops real estate, employs lots of jobs, and attracts students from the US and internationally to attend. On top of all of that, it boasts one of the best college football teams Ohio state buckeyes, which is very well known and has a cult following, and attracts a lot of people to the games. If you don't care about appreciation at all you should look at Cleveland OH. Cleveland has a bit higher cash flow than Columbus in exchange for the appreciation.

@Efrem Debesay 
It might depend on the kind of rental you have. For example, it might not make sense to ball out and put a new metal roof on a Hilltop duplex when you could just put an asphalt roof on and it will do the same job for cheaper, even if you are holding for a long time. The life expectancy of a metal roof is admittedly longer than asphalt, but I think this all goes back to the debate of leaving the CAPEX as is and replacing items when broken, or do you like to prepare and rip out everything old and replace it all to make it last for a long time from the start. Just depends on how you view it in my opinion.

@Dominic Holt
It is very possible that the Portland Oregon Market is too expensive to support finding a duplex that one unit could cover the mortgage. It might altogether be more cost-effective to buy rentals out-of-state and collect the cash flow and rent for the time being, which I know some people that actually do. Side note: I'll actually be vising Portland at the end of next month. Maybe we could meet up?

@Raya Rahbari
Where is your current rental at? I would recommend specifying that. I have found lenders that operate in the state where you are investing work the best.

@Ezekiel Williams
I would definitely start with a house hack. If done right, you can live rent-free in a 2-4 unit and get into real estate with less capital. 

@Vincent B.
The midwest is a great place to start. I would definitely recommend Columbus OH more specifically. It's a solid hybrid market of cash flow and appreciation. Columbus has lots of job opportunities and population growth. I currently live and invest here in Columbus OH. Also, your money can go a lot further as mentioned by @Kerry Noble Jr  in Columbus OH vs Los Angeles since the cost of living is substantially less. 

@Alice Smith
You should specify what state and neighborhood you are looking in so people can help you. Determining price is based on sold comps in the area. I would recommend reaching out to a realtor for that, but if you post the location you are interested in, a few realtors will most likely reach out and will be able to help!