All Forum Posts by: Raul R.

Keep in mind even if rentometer estimate is correct, $3700 is in the high end in CLT even for a 5 BR. It will not be easy finding a qualify tenant. 

@Wallace Zhen

I've had good luck in the U area and you can still find properties in MLS in your price range, 28262 & 28213

Look at the light rail map and new lines under construction follow the path of progress as they say and you can also find other good neighborhood. I suggest taking a trip don’t just rely on pics and research..

@Taylor Brugna is my CPA, has been for several years now and I highly recommend him. As @Basit Siddiqi mentioned there are a couple active in the forums including himself that you can also checkout.

@Francesca Tindal

I also live in Ny and invest in Carolinas but North.. I highly recommend getting a CPA that’s familiar w Out of State investing not all CPA have that knowledge. I know SC has a tax for Out of state investors it’s worth talking to a professional rather than doing it yourself I quickly learned that. I’ll be happy to recommend my CPA he is also an out of state investor just let me know?

@Johnny Ruiz

It helps if you have Fred Trump as your father.. Trump never had to be a Wholesaler because of Papa Trump!!

@Nicole A.

Nicole brought up an excellent point concerning security. If tenant WiFi Network was hacked I wonder would Landlord be liable if it was determined security was not up to par? I’m not a lawyer I don’t have an answer

Concerning running Cat 5 Ethernet , it is more secure but I wouldn’t bother doing it. Technology and bandwidth requirements are changing so fast that now Cat5 Is considered an old standard. Cat5 only supports up to 100mbs Cat6 Ethernet would be more ideal running in homes now but depending when cable was ran at the time Cat5 Ethernet was probably standard.

I agree with both statements. My question is more if other Investors are seeing an Improvement with the algorithm for these Online estimates? I dont rely on these estimates but I do like comparing..

Is it a crazy thought to believe that someday Appraisals will be replaced by an algorithm?? 

I always considered Zillow estimates to be a joke very unreliable but I’m noticing a change for the better. About quarterly I get updates from Zillow and Redfin for the property values for property I own and I’m noticing their estimates are much better than even a year ago. I did an appraisal recently for a refi im doing Redfin estimate was off by a few hundred $$$ and Zillow by under $5k. Overall Redfin estimates seem a bit more accurate than Zillow but not by a lot. Are others seeing similar improvements??

@Jonathan Greene

I was a newbie investor that invested OOS 3 years ago. With the recent Landlord Tenant Laws changes in my local market I’m so happy I decided to invest 500 miles away.

You made some excellent points but I disagree with some. Maybe you are referring to investors who invest w Turnkey companies, I can’t provide an opinion about TK because I’ve never done it. I disagree in what you say that you don’t learn investing OOS I have learned a lot the most important skill I have learned is I can successfully plant my roots in any market. A local investor is limited to distance I am not I know what it takes to successfully invest OOS and I feel confident in branching out to any market when the time comes.

The mistake OOS investors make at first they may not realize how much traveling might be required until they have systems in place.

Investing OOS is not easy especially at first but if you’re committed and are willing to do the work upfront you can succeed.

@Scott Kuhnert

Without proof there no point in bringing it up. It took me a year or 2 to figure it out not allowing pets will eliminate a large pool of tenants and the reality kids can cause more damage than dogs and cats as always it depends on how they are raised / trained. I would ban kids before pets but that’s not allowed :)