All Forum Posts by: Samuel Glantz

@David Smit we have accounted for the fees associated with selling, profits are still very good. I estimate roughly a 56% CoC return after selling cost currently. Again just rough numbers.

He would still own two properties here since he owns 5 total and would be looking to purchase in another market, looking at Indy. Indy would have much better Cash Flow and lower costs to entry.

@Peter M. He is sort of. currently he is generating a small CF of $260. However he is putting a lot of money into the properties to pay down the mortgages each month. So in reality all cash flow goes to principal paydown. When he got these the goal was pay all off within 5 years and use income as retirement cash flow. More of a down the road long term mindset not focused on the right now.

He would be using a 1031 to roll the money into new properties in the midwest to avoid taxes. Rents are $1420, $1445 and $1445 respectivly, so a cool down is possible.

@Eric Adobo I get the question but his net worth is not for me to disclose, out of respect for him. I will just say he does alright. Yes we did some things wrong, and got lucky, we are both very new to this endeavor, but hey I'll take a little luck. Going forward we would prefer to not go in blind and hope for the best.

Thank you for the feedback everyone, if I left anything else out or you have more questions let me know. 

wow man looks great, amazing all this is happening while you are not present, gives me hope that i can accomplish something along these lines myself. 

Hey Guys, I am new here but in short I manage a few rentals for my father.  He acquired them about 20 months ago to help diversify his retirement portfolio.  Things have been going well with them, great tenants, solid rents, and the market has appreciated more than expected.  He is getting closer to retirement and given the outlook of the current market, we are trying to see if in the next few months if it is the time to sell or not.  Originally the goal was to hold long term but given the appreciation selling might be a better option.  We are afraid that the market could see some depreciation over the next year or two.  Not to the extent of WA, CO or CA might experience but perhaps a small decrease or period of stagnation. Right now they each have a mortgage and getting rid of those and paying all cash for some Midwest properties would generate a better cash-flow and take away the worry of having multiple mortgages at his age. 

Does anyone have any thoughts on the Phoenix market for the next 12 to 36 months?  Obviously no one has a crystal ball but a lot of people on here are more knowledgeable that us at this subject.  I would appreciate any incite on the subject.  If it helps there are three houses, current market values are roughly $255k, $280k, and $290k.  All are in the northwest valley around Lake Pleasant rd and Happy Valley rd. 

 Wow there is clearly a lot that I have to learn in this regard.  Thank you for showing me this. I never considered the investor option as my funds are limited but this is highly intriguing. Thank you for this incite

So where to begin, well hi first of all.  Thank you for having such a great community for people like me that are really just trying to get their feet wet can go to and learn. I am just trying to soak up a lot of the knowledge on this site and man is there a lot of it.  Sorry in advance for the long post.

So a little about me.  I am born and raised in the Phoenix area, currently reside on the north side of town in Peoria. I love this city and do not plan on leaving any time soon.  My day job is as an insurance adjuster.  I have a lovely wife and two dogs.  Feel free to inquire about anything else, I am never very good at these intro posts. 

Now to the good stuff! I bought my first home when I was 21 in 2010 (nearly the perfect time, missed the bottom by 6 months) ended up hitting a hard time a couple of years later, sold it and made a small profit. I wish I knew then what I know now.  2018 is not as great of a time to get into real estate investing as it was in 2010 but hey live and learn.  Fast forward to 2017, my dad is getting near retirement, less than a decade away and he has always been a saver but not much of an investor.  I decided we needed to take some action.  Did a little research, not as much as I should but got lucky. I convinced him to buy rental properties. He ended up purchasing 3 rentals in the north phoenix area.  Have had a few hiccups along the way but overall they are all doing well, averaging about $100 per month of cash flow per property but the appreciation has been tremendous.  The goal was to get properties and pay them off by the time he retires so he has cash flow later.  So far it my lucky decision has been paying off.  I have been managing the properties for him thus far and have learned a lot doing it.  

I feel blessed that we have had good fortune thus far for the most part and testing the waters with his money (sorry dad) has given me the courage and hunger to start looking into my own real estate endeavors.  The Phoenix market is too expensive for me right now and would not generate enough cash flow.  I would really like to get into the buy and hold strategy.  I am looking at a few markets currently; Indianapolis, Kansas City, and Memphis are at the top of my list due to lower property taxes.   I am also not sure if I should attempt to find my own property and try to fix it up or go turnkey. Since I am about 1500 to 2000 miles away turnkey seems appealing since I don't know the markets well nor do I have any contacts in those areas.  My main goal is cash flow and with any luck an early retirement by the time I hit 40. 

I am open to all advice and if anyone would like to learn more about me or has any suggestions please let me know.  If you took the time to read my long winded post then I thank you.