All Forum Posts by: Account Closed

Welcome sir. This is a great community I just joined as well. Please keep the lone star state in mind in your investing. I found that networking with others is what has led to recent success for me in real estate. Find people who have done lots of deals and are willing to show you the ropes. that is the path to success. 

I understand why people want to buy in their area, I used to do the same thing when I was doing rentals like most people do. When I figured out the genius of owner financing from a few mentors , I stopped doing rentals. 

If you qualify an end buyer carefully and get 5k down, documented income, background check and verify 2 years of employment, you can have that person pay you monthly and not maintain the house. It may not work in every state, I have my doubts about NJ and other blue states, but it works great where I am. 

Kansas City is also a great market [Removed], Indy really good too I hear.

my partner in town does very well finding cheap properties in estate sales. 

There is a lot more going on in my city than just oil gas. Lots of construction and military, and billion restaurants, which is where 1/2 of our owner finance buyers work it would seem :)

Very little change in demand for our distressed houses. We have 800,000 blue collar hispanics without credit here, tons of demand for affordable owner finance homes. We have done well in booms and busts here for 13 years. 

Also, consider owner financing so you don't have to bother with property management from CA. Why do that? Let the end buyer maintain it. 

It's cheaper to get in in other markets, even if you can get cap rates in LA that are comparable. If you stay in LA, good luck , lots of people do well there. I have good contacts in my city , as well as Kansas City. 

Good luck with your rehabbing. If you ever want to learn about real estate where you don't need to bother with most of that, please let me know, I have the contact for you here. 

I guess a good deal is in the eyes of the beholder :) We make good money in our city in the Lone Star state by making 5k-10 per deal. Lots of those is real money, as is a 12% cap rate without property maint for the investor! 

Ryan, thanks for posting. I am direct to an investor/agent I think you should get to know in our fine city. Thanks!