All Forum Posts by: Ryan Ricciardelli

@Will Fraser Thank you.  I love Oklahoma City.  I like that the city is build on a lot of recession resistant industries (healthcare, municipal, higher education) and has shown plenty of steady economic/population growth.  Additionally, I love that properties tend to offer some appreciation to go along with solid cashflow (which I am really after).  I have read a few of your posts and would love to connect if you have some availability!

@Brandon Goldsmith  Thank you sir!  I can definitely relate to analysis paralysis... It took me a few years, books, podcasts, and a pandemic to finally get the momentum going.  I have purchased my first few out of state properties in Oklahoma!  I have heard great things about Ohio as well!

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $113,350
Cash invested: $29,700

This was my first out of state investment! I learned a lot from this deal and definitely got a few "bruises" in the experience. I bought the property from a flipper, something I will probably lean away from doing in the future. My plan is to hold it as a long term hold.

Hello All,

  I currently own two doors in my home state of Massachusetts but am under contract for 2 more doors (single family houses) out of state (Oklahoma).  I am seeking feedback on what legal structures I should hold my properties in as I begin to accumulate a portfolio.  I know there are both tax and legal aspects to consider.  What paths have you all taken?  I am grateful for all feedback received.  Thank you very much!

-Ryan

@Andrew P. 

1.  Congrats!  It is so important to get the wheels moving.  Don't belittle the deal or the action you are taking... action is better than no action!

2. 10% Cash on Cash return certainly isn't something to diminish. While it is possible to find deals that generate greater CoC returns. it is most certainly solid and when combined with the equity side (mortgage pay down, any appreciation) it should generate a solid return (as long as you manage it effectively and the property can attract tenants).

3.  If you self manage the property you may be eligible for certain tax benefits/breaks.  I don't want to go down a rabbit hole but you may receive additional benefits from this property besides the cash and equity returns.  Do some research and keep this in mind when you're contemplating the total benefits of this property!

"The rung of the ladder was not meant to be rested on." - Chinese proverb

@Arsen Atanasovski As Philip indicated, I assume you have to be very careful with which Detroit neighborhood you choose? My understanding of the city is limited, but my perception (and it is limited and may be flawed) is that the local economy has stumbled a little (financial crisis, etc.) and has been slow to recover?  I'd be interested in what insight you can provide as I've heard rumors that things are "beginning" to turn around.  Appreciate the feedback!

-Ryan

@Philip Ganz Thanks for the feedback regarding the 203k loan. I haven't used this product before.  I'll do some research but are there any basic restrictions I should be aware of? Thanks.

Hello All,

  I am a relatively new Boston based real estate investor.  I currently own two properties in Boston but the local market is very expensive and I am looking to increase my portfolio's cash flow.  My thought is that I may have to invest outside the New England region, as I am also interested in investing in mid to upper grade neighborhoods.  Does anyone have any advice on areas I should consider/look into?  I am grateful for any advice provided!  Thank you.

-Ryan

@Brian J Allen Hello, sorry to jump in here but I am another Boston based real estate investor looking for a little more cash flow than the immediate area offers. What kind of cash flow ROI numbers have you seen in the Worcester area? Would love to hear your thoughts.

-Ryan