All Forum Posts by: Account Closed
Account Closed has started 6 posts and replied 23 times.
Originally posted by @Edwin L.:
@Caleb Bryant, I like Huntsville very much. I made a few offers on properties with no success. These properties were getting multiple bids and I was outbid. I stopped looking there and went to the burbs (if that's what you call it) and purchased a new construction home in Toney. Not to a far from Redstone Arsenal and other major employers. My PM leased up in 2 weeks after COE with a professional tenant. Numbers work out pretty good, so far. I just hope I get the same amount or more rent after the lease expires.
Any tips for an OOS investor on locating property inside of Huntsville? Thank you!
I too am interested in tips for OOS investors interested in Huntsville, AL.
Post: Long Distance Investing: San Antonio, TX
- Posts 25
- Votes 13
Post: Hi I'm Chris, new to real estate investing and excited to meet u
- Posts 25
- Votes 13
Originally posted by @Christopher Chen:
@Lane Kawaoka totally agree! The only reason I'm purchasing here is to lower my expenses. I realize I've spent 60k on rent in the past 2 years. Once I've reduced my expenses I plan on investing in Memphis.
Great advice. Are you primarily a cash flow investor? That's what I'm choosing to focus on now.
Welcome! I'm also a newbie to BP and to real estate investing as well. I'm curious: why Memphis?
Post: Real Estate Attorney Turned Investor
- Posts 25
- Votes 13
Originally posted by @Taylor L.:
When investing from a distance, you need to first define criteria then examine 10 or so markets to see how they fit that criteria. Then pick the top 2-3, study them thoroughly, travel to them, and get to know your top 1-2 like the back of your hand. Tools you can use include various government entities that accumulate data (BLS, Federal Reserve, local Chambers of Commerce) and private entities like Rentometer or Costar (pricey, though).
If this is your new career, it's going to take a ton of dedication to be competitive. Just as much dedication as it took to go to Law school and become a lawyer!
Have you decided on an asset class you're targeting? What are your specific results goals and timelines for achieving them?
Thank you so much for your post. This is my next career pivot, and I am willing to do the work to be competitive!!!
Post: Long Distance Investing: San Antonio, TX
- Posts 25
- Votes 13
Thanks for your response! My fiance and I are looking for MFH and our goal is to receive cashflow (~$200/month/unit). We are still in the process of deciding what may work best for us (given our goals and capital) as far as financing.
Post: Long Distance Investing: San Antonio, TX
- Posts 25
- Votes 13
Originally posted by @Aidan Mosher:
I have a fantastic referral I can send you for a San Antonio Realtor who specializes in Real Estate Investment. Message me if you'd like his information!
Thanks!
Post: Long Distance Investing: San Antonio, TX
- Posts 25
- Votes 13
@Heather H. Thank you for such a thorough response and for all of your suggestions!
Post: Long Distance Investing: San Antonio, TX
- Posts 25
- Votes 13
Originally posted by @Rick Pozos:
The prices are definitely cheaper here than LA, but we are kinda over priced right now. Unless you have been doing some good marketing to find some deeply discounted priced properties, you are going to overpay. But that is kinda in all markets right now. Just because a house costs less than it does in LA does NOT mean that it is a deal. You have to look for properties that are cheaper relative to surrounding properties.
That's the plan (i.e., looking for properties that are cheaper relative to surrounding properties in a long distance market). Thanks for your insight!
Post: Long Distance Investing: San Antonio, TX
- Posts 25
- Votes 13
Originally posted by @Rick Pozos:
100k is not going to get you very much in SA. In fact, it will get you a pretty rough house. Are you sure that you want a c/c- property out of town??
What would you say is a respectable budget for SA? I'm open to other markets, but am still researching. I've heard good things about SA, but am not wedded to that market.
I live in Los Angeles, and seem to be cashed out of the real estate market here (at least with respect to my goals); so I am looking at long distance investing where (at the very least) properties are cheaper and the cost of living is more forgiving.
Post: Real Estate Attorney Turned Investor
- Posts 25
- Votes 13
Hey all! I wanted to introduce myself. I recently left my corporate law firm (where I practiced (transactional) real estate law in CA) to pursue other interests and endeavors, one of which is investing in real estate. My fiance and I have a bit of capital to work with, but feel that we may need to look outside of CA to find good cash flow deals. My background is primarily in commercial real estate transactions, but we're interested in (eventually) acquiring a portfolio of multifamily properties. We're currently researching markets, and ingesting as much knowledge and information we can about the industry, but nothing beats primary sources.
While I'm still in the same industry, this career pivot is a bit scary and I feel like I'm at an informational deficit. For those of you with similar backgrounds, how did you get your start? Other than this wonderful sight, are there any resources you'd recommend? If you've done a lot of long distance investing, which tools did you use to lock in a market?