All Forum Posts by: Patrick Drury

@Bethany Baroody
Cold Calling reigns supreme as the best way to find off-market deals. I don't think anything else comes close.

@Julia Taylor
I would use hard money or DSCR to buy as many doors as I can while still keeping reserves. I would use DSCR or Hard money because you don't need a W-2 just as long as the deal pencils out to buy. Depending on the situation maybe buy one or so in cash and do delayed financing if that is an option.

@Justin Platis
I would also consider looking at Cincinnati OH. You can get good cash flow there as well by putting down 100k or less. 

@Raju Balakrishnan
I would suggest a lower-cost market with growth potential like Columbus where you get more cash flow and the entry price is lower for someone getting into real estate. 

@John Moultrie 
I personally own a rental property that I rent out via section 8. I would definitely recommend it. The hardest part about section 8 is getting the process down, like what to do and when. Sometimes they also just change the process and don't tell anyone. A big part of renting to section 8 tenants is screening them. Just because they have a voucher doesn't mean they are the right tenant. The same goes for average joes. Just because they make enough income doesn't mean their application is perfect. Did you do a background check? A big part of tenants treating properties badly is because people didn't screen the tenants adequately, so don't make that mistake. 

@Damien Tate
Finding deals is an important skill now, especially with low inventory. If you can find a good deal, chances are people will want to partner with you. As for taking a trip to Columbus OH, I would definitely recommend it. While you are here, you should take a look around the neighborhoods and buy some rentals!

@Patrick K.
Get out there and network some. Go to some local meet-ups where you live. 

@Lucas Bernard
Find a market and jump in. I would say 2 key indicators to look for as out-of-state investors are job opportunities and population growth. 

@Drew Sygit  

I have never used either. Our property management used to use Buildim and I know they had problems with them and switched to Appfolio and have been pretty happy since. I have used Appfolio as a leasing agent to put properties up for lease, screen tenants, and rent them out. I also still use it as an owner. I have our in-house property manager here at Reafco manage my rental and so I am pretty familiar with using it as an owner. The interworkings of Appfolio are pretty interesting with how complex it is and all the things you can accomplish. 

@Leslie Monroy
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.