All Forum Posts by: Jeff Schechter

Most of the midwest markets are significantly cheaper, and have far better price-to- rent ratios.  We're heavy in Indy, but Detroit, Cleveland, Columbus, Cinci, St Louis, Memphis, KC will all CRUSH the numbers you'll get in Austin... assuming you're looking to do buy and hold for CASH FLOW.   Live where you like, invest where it makes sense.

We are 400 doors deep in Indy.  Perfect city for inexpensive buy/hold.  Not much for appreciation, but stable and growing.  Cash flow, cash flow, cash flow.  PM me if you want more info on what we're up to.

Thanks @Mindy Jensen.  Appreciate knowing that we're being heard.  I come from a marketing background, so when my marketing wings get clipped, it's frustrating.

I agree that the ads should be detailed, and we will certainly do that.  But, getting people to our site for greater details, more pics, and a structure that we have TESTED and PROVEN to work (with many $$$) is important to us.  

Getting a potential buyer to contact a seller is the end goal.  That's the whole point of Marketplace ads.  We would like a structure that facilitates that, and your current new structure leaves some room for improvement in that area.  I am happy to sit on a panel/board and give insights to your development team, if you'd like.  Ultimately, the more effective your Marketplace ads are, the more Pro members you'll have:  win/win.  Let me know....thx!

Just curious @Christopher Gomez - Why Austin?  I lived in the SA/Austin area for many years (until recently), and the prices and price-to-rent ratios in Austin will make it extremely difficult to cash flow. I see you live in CA...if you're going to be an OOS investor, why not choose a metro area that will perform better?

@Mindy Jensen I appreciate your comment regarding most people using the headline for the address.  Clearly, most people aren't very good marketers.  Thankfully BP has some tools to help with that.  We would use the headline for um...well...a HEADLINE!  

We would like to hyperlink back to our site, where we are able to put a TON more information about the property besides the basics that would be covered in a MP ad.

What is happening with the new ad structure in Marketplace?  There is no opportunity to see headlines until clicking on an ad.... there are only pictures (and very little text) allowed.  There are no hyperlinks allowed.  The body copy is just one long run-on paragraph.  

We did not know this change was coming, nor do we understand the logic behind the changes.

What are you experiencing?

Here in Indy we've gotten away from multi's...rarely even do duplexes anymore, unless they are super nice. We are in C-class neighborhoods, and the stability of the SFH's doesn't take very long for them to catch up to the "on paper" returns of the multi's that tend to be less stable. If the other midwest markets are similar (and I believe they are), then you'd be best served trying to get into bigger multi's where you can offer the tenants some amenities other than shared walls...otherwise, you're just looking for aggravation.

@Ahsan Irshad  True TurnKey, where everything is done for you, can be a great way to get started.  But, it is not for everyone.  I do agree that you should become knowledgable in the space, but I don't agree with a blanket statement like what @Patrick Soukup says that you should never do it.  TK is great if you are busy, don't have the time to do all of the things required to force appreciation, don't live in an area where you can get good returns, etc. 

First, it would be better to truly define what you mean by "Buying a small property, and working your way though that."  ie - are you wanting to flip it, or buy/hold it for best long-term cash flow?  Once you know exactly what you want to do, it becomes easier to find the right players to help you.

@Harold Lee  There are some great ones out there.  As @Jay Hinrichs pointed out, it's best to determine where you fit into the location/property class mix.  Once you've gotten comfortable with that, you'll still have to vet the providers...There are lots of different versions of the word "Turnkey." To get the best results, find a company that does it all: acquisition, rehab, passes a 3rd party inspection, offers a warranty on their rehab, places the tenant, and provides ongoing professional management. This ensures that your provider has full "skin in the game" and is more accountable. There are now even some providers that go so far as to only sell properties that are ALREADY tenanted and cash-flowing.

@Michael Spindler

You'll still have to vet the providers...from what you learned from @Ali Boone, there are lots of different versions of the word "Turnkey."  To get the best results, find a company that does it all:  acquisition, rehab, passes a 3rd party inspection, offers a warranty on their rehab, places the tenant, and provides ongoing professional management.  This ensures that your provider has full "skin in the game" and is more accountable.  There are now even some providers that go so far as to only sell properties that are ALREADY tenanted and cash-flowing.