All Forum Posts by: Steven Gesis

My name is Mark B. I'm a beginner investor looking to learn as much as possible and find deals to start generating some good positive cashflow. Would love to team up with other investors in the area to help in any way I can and hopefully speed up the process. I'm in it for financial freedom as quickly as possible so would love to meet people in the area with the same goals because the whole is always greater than the sum of the parts. I'm an engineering grad with management experience and very good at data analysis and solving problems so with some knowledge and experience, I think I can bring a lot to the table and add value for fellow partners. Excited to get out of the rat race!

Hey all, 

I'm an out-of-state investor very interested in the SFH market in Kansas City, and am hoping to purchase my first property by the end of the year, if the right thing comes along. I've seen a lot of discussion about Raytown and Grandview as solid B-grade cash-flowing working-class neighborhoods, which is my target area. However, I have some questions that I'm hoping those with local knowledge can help me with.

Crime - I've got a prospect I like in the 64129 zip (outside the 435, close to Eastwood Hills Elementary), and when I look at crime heat maps the area appears pretty good - a handful of thefts, but no violent crime or B&E in the immediate area.  However, reports from Rentfaxpro and City-Data show the crime rate in the area to be very high (disproportionately so, when compared to the actual incidents I've seen reported).  Can anyone shed light on this seeming discrepancy?  

School districts - It appears that, on the whole, public schools in KCMO are pretty terrible.  The only thing that's turning me off of Grandview as an area is the rock-bottom school ratings on GreatSchools and Education.com (Raytown doesn't seem to be much better). Can anybody comment on the impact this has on tenants/tenant duration, especially in regards to the KC market?  My mind says better school districts will encourage tenants with children to stay longer, but is that reflective of actual experience in these areas?

Thank you in advance for any insight you can lend!

Hi to all BPians out there,

please guide me with your expertise in Rentals niche.

I'm a newbie to REI space, but sincerely working towards becoming a good one in coming days. Also, joined my local Habitat volunteer program to contribute a bit to the needy as well as myself can become a good handyman to DIY majority of home repairs in my future rentals/house-flips.

I live in Charlotte, North Carolina. My current job(IT consultant) allows me to work remotely, so I've this flexibility  to live in any of the major Metro areas.

Planning to buy a multi-family home (can be a duplex/triplex/Quad depending on how good the deal is). Have already browsed internet (BP, RealtyTrac to name a few) for pointers on places to invest in Rentals. 

Got to see that Atlanta, GA seems ranks better than Charlotte, NC in overall prospects with some bargains/deals (provided one does proper due diligence).

Here's where I need guidance/help: I've been living here in Charlotte for 1.5 years & have a few friends & a cousin, so a bit attached to this city,while my aspirations hint me to leave for Atlanta/other better places to hunt for better deals. 

However, if it's ATL or anywhere else, I may have a zero/bad social life given my introvert nature :(  

If it's in Charlotte, I can manage my RE investments/ as well as social life for my psychological well being. 

So, here's my Q: Is Charlotte a good place for a 1st time buyer eyeing on sub-50k (fine with working out on foreclosures/Ugly/bad looking homes (with no structural issues though))& then some DIY, hiring contractors for necessary but not HiFi makeovers).

Essentially, I'm looking to start small, have seen some successful folks here in BP with sub/~30k properties, I feel I should expand to bigger amounts once I get some real-time/1st hand experience, 

Just to give u an idea:my current job:IT consultant with 6figure annual salary, Frugal(not cheap though) lifestyle, net savings(4-5k/month), Credit score(775) & mortgage eligibility (can borrow anywhere upto 400-500k ) 

Can you please guide/advise me? 

should I move to Atlanta/ any other city for deal-hunting OR stay back in Charlotte (my heart currently lies here, feeling a bit attached, although I might be wrong thinking so). You may also please suggest any better places (if not Charlotte/Atlanta) to start with.

PS: sorry for such a long post, would like to give as many details as I can so that u can understand my profile better & provide your invaluable inputs.

Thank u all in advance!!

Sergei D. I do buy and hold out of state. I have been doing it for 10 years. I lived in the state I invest in for 45 years. Even knowing the state and areas where I invest I still hit a road block every once in a while. For this reason I would recommend checking every nook and cranny close to home first. Then if nothing turns up try a turnkey company to start with. This will allow you to network a bit, teach you how to be a remote landlord, and most important what qualitys the people on your team are going to need for you to be successful. THEN after you get your feet wet with the turn key property, try to find something to buy on your own. Scrap any rehab ideas until you really have the connections to pull it off from a distance. It's hard enough to watch over your PM from a distance much less a general contractor who is spending thousands of YOUR dollars on materials and labor. In any case bring your dollars as you are definitely going to Learn some expensive lessons. Oh yeah did I mention it takes twice as long to locate a property on your own when you are out of state? With inventory levels so low I had to start in a new city. It took a year to locate my last property due to low inventory sand higher prices. And for me the last offer I had accepted cost an $1800 dollar plane ticket to go see the property!! What ever you decide to do Good luck!!

I'm a newbie with 1031 and with buying out of state. My SFR in San Jose will be closing within 30 days or less. I will have about $1.1M to exchange. I know I need to identify properties within 45 days of close and buy properties within 180 days of close. And have an intent to buy and hold. I am thinking of buying out of state for the cash flow. I need some ideas and advice as for the best use of my money. I went to a meetup and got some great information and contacts. Looking for minimal risk as possible with decent returns without being suckered into something by sharks. Currently don't have a QI or CPA, but looking and will soon. Some questions -

1) Should I use a QI and CPA that is local or nationwide?

2) Can I exchange for 1 or more multi-families?

3) Can I exchange for commercial property?

4) Can I exchange into a syndication?

5) What else would be a good exchange into?

6) Any advice as too what/where to buy and suggestions on how to vet any opportunities?

Thanks,

Stan

I am an investor from Indianapolis and have family in Cleveland that I visit regularly and I am wanting to start looking at properties when I visit to see if there is potential to start investing in the Cleveland area. The next time I will be in OH will be nest week and would love to look at what is available. Thank you in advance for any reply's. 

Rick

Great post!  Are these investments allowed for 1031 exchange?

My name is Ryan, I'm from Salt Lake City. I have been a hard-core lurker on Bigger Pockets for a couple of months and thought I should finally introduce myself. I wanted to extend a thank you as I have been able to learn an incredible amount from the forums, blogs, and pod-casts.

I have pretty limited experience so far...my wife and I have been renting out a Mother-In-Law suite in our house for the last two years. I'm pretty set on the buy and hold strategy as this is one of the few ways I can make money outside of my often times-more-than-full-time employment. I'm considering turnkey, SFH's, duplexes, triplexes, etc. Any advice/recommendations is more than welcome!

Again, thanks to everyone for contributing to such a helpful atmosphere. I really appreciate having such a great resource. 

Hello,

My name is Jake and I am new to real estate investing. I have some appointments to view turnkey rental properties in the Atlanta area. The specific company I'm working with is called Rooted Capital Companies. Since this will be my very first investment property I was just wondering if anyone could give me advice on what to look for and if this style of real estate investing is a good way to go for a first-time investor. Thanks a lot and I look forward to responses from anyone who can help.

Jake

@Steven Gesis

Is Smartland all single family or some multi family?

You guys have a great website and I see that there is a page for small multifamily but it is blank.  I currently own a few other turnkey houses and am looking to buy 1-2 more this year so I am checking out several options,

Thanks