All Forum Posts by: Hersh M.

Jacksonville is a good area for buy and hold. I have several properties there myself. I bought them all through a turnkey company there (I live in Oregon) that has also provided really excellent property management. All my properties are in the zip codes mentioned above.

hi Larry, what kind of cap rates are you getting? And are these SFHs mainly? Thanks!

0 Votes

Originally posted by @Tyler Bedle:

Hey Ana,

It's really a matter of whether you are looking for passive income or active income. With the cottage you would be virtually having a part-time job (checking in guests, unit turns after checkout). Not to mention issues with guests, having strangers on your property, liability etc.

With the $40-50k you could purchase a decent SFR or Condo that would cash-flow quite a bit for you without the headaches. An experience brokerage / property management company can help you acquire, rehab (if need be) and manage a property for you. Our company has been doing just that for out of state investors for quite some time with great success. If you have any questions about out of state investing or how our business operates feel free to drop me a line.

hey Tyler, can you pls share some more info like what class of properties, whats the cap rates, which areas in FL, etc? Thanks!

0 Votes

@Erica M.

Are you only interested in MFs? I would recommend check out some of the podcasts about MFs. Almost all the podcasts give good reference on the books.

0 Votes

Originally posted by @Willie R.:

I found about a possible deal through a real estate agent at an open house. I went to look at the property today. Its a 4/2.5 and its already a rental property. They are asking 125K for it prior to listing it, but believe that they can put it on the market for 139K. Rents in the area are about $1,500 per month but the current rent is $1,200 and the renter is being evicted. The agent told me that most deals of this type can be handled without a lawyer by using the title company. What are the risks of not using a lawyer and relying on title insurance for protection for a deal of this type?

Willie, looks like you will barely meet the 1% rule, right? The general recommendation i have heard is to try and meet atleast 2% rule.

0 Votes

Originally posted by @Cheyenne Davis:

"There are communities that offer pure low priced cash flow and others that have low cash flow"

What communities would that be? I am strongly considering a move to the area and have been out here for close to a week. I haven't come across the low priced cash flow properties yet. I'm from the Central Florida area and Colorado is a whole new world to me. I've gotten used to buying properties for around 30k and renting them out for approx. $700/mo. That's "pure low priced cash flow", and I'd love to find something even remotely close here, but I'm not seeing it :(

Hi Cheyenne, about these 30k properties, what class are they? And are these SFHs or condos or something else? Thanks!

0 Votes

Just for fun - http://www.kpbs.org/news/2015/aug/03/survey-says-s...

Austin was named the best large city to live in, followed by Raleigh, Colorado Springs, San Jose and Seattle, San Diego.

The worst large U.S. city in which to live, according to WalletHub, was Detroit, followed by Memphis, Philadelphia, Cleveland and Indianapolis.

Wallethub report here - http://wallethub.com/edu/best-worst-large-cities-to-live-in/14358/

0 Votes

@Dan RemmertCongrats! Are you self managing or PM?

And the higher 4% rate as well as higher downpay is due to it being a commercial loan? I guess the normal 15 year rates are around 3.1-3.3%.

0 Votes

@Steven Story

As per Zillow, it looks like the Milwaukee market has hardly appreciated since bottoming out in late 2012. Does your research confirm the same thing and is it a factor that you are considering? Also are you able to meet the 2% rule on your potential investments or are you happy with 1%?

0 Votes

Riverside, California

@Account Closed

As per the article, prices are higher than or atleast approaching 2006 pre-bubble highs in several places across the country. Ofcorse, take everything with a pinch of salt. Its best to do your own homework. :) And bubble does not necessarily imply that things will start going down.

Since I am trying to get familiar with real estate market cycles before jumping in, I find all these stats and opinions very interesting.

One thing that somewhat confuses me is if rates are at historic lows and are expected to go up, shouldn't people start buying and hence home ownership rates should go up? Somehow, things dont make complete sense fundamentally speaking. I am not sure one could justify it by including several more factors like demographics, wages, etc but still something seems to be missing. But people with more experience here would be able to comment.

0 Votes

All Forum Posts by: Hersh M.

Hersh M. has started 58 posts and replied 280 times.

Post: Anyone selling right now in hopes of buying similar properties back..

Post: Jacksonville, Florida

Post: Build Air BnB Cottage in Backyard or Invest $ in another SFR?

Post: Recommendations for real-estate investing books

Post: I think I have a deal. Help!

Post: best cash flow

Post: Best and Worst cities to live

Post: First property! First Multifamily!

Post: An investor in the Inland Empire but not investing in the IE...Whaaaa?

Post: Housing Bubble 2.0