All Forum Posts by: Steven Gesis

Hi Everyone, I'm just getting started on my investing path, and I've decided to seriously consider looking at single family rental properties out of state.  I know there's some extra risk involved with this route, but as a resident of Los Angeles, I've decided it's the only way to go. I'm wondering if anyone has purchased an out of state property as their first investment and 1)how they identified the right location and 2) any other general advice, success or pitfalls they encountered. 

Hi all,

Can the experts lend a hand in what to watch out for when picking a company to handle the exchange ?

1. Should the company be in the same state for the purchasing side to understand any relevant laws and local issues ?

2. How to avoid issues with company mishandling of funds ( liability ) ?

3. What guidelines should be used in selecting the company ?

4. If the company screws up then my 1031 Exchange is disqualified and then would be taxable ?

Thanks, Rich

Hello BP community. I am based in NY and given the poor cash flow around this area in general, I'm looking to invest out of state from beginning to end. This includes scouting for below market / reasonably valued properties, having a designated property manager and contractors conduct rehab of the property, and renting out the property. I understand this can be quite a challenge, and feel like the most critical aspect would be finding the right team on the ground - including an investor-focused RE agent, a skilled property manager, and reliable and honest contractors. If anyone has had experience being in such a situation, or knows of agent / PM / contractor contacts / references (or are yourself a RE / PM) who would be able to help pull off such an operation, or would be willing to partner with me in some capacity, please let me know. Your input would be greatly appreciated. I would like to focus on strong rental markets including but not limited to Indiapolis, KC, Birmingham, Dallas, Memphis. Thank you. 

Hello everyone!

My name is Preston Wengert. I am a commercial insurance agent for The Mahoney Group. I mainly deal with people like all of you. Those that have investment properties. both single and multi-family properties. It is speaking with my clients that has intrigued me so much with becoming an investor myself. 

My biggest fear is pulling the initial trigger. Buying that first property. I feel like I need to educate myself more so I can make educated decisions. I am very open to any blogs, books, or podcasts that deal with making that first step.

Another issue I feel I need to overcome is purchasing a property out of state. with the little knowledge I have, I think the better investments are not here in Arizona. If you have some input on good markets I would love to hear about them.

I am exited to be apart of this group and look forward to learning from all of your experiences!

Hi every body.,

As I am a foreigner, I would like to know if you discuss the listed price when you buy through a turn key company ? in another words is it current to make an offer below the listed price.

Thank you for your advices

if you like cash flow continue to invest in the cuse. Definayely stay with a duplex and consider a 203 k loan of you are familiar with that.i did that with my first home and now have 72k in equity. The catch is you have to occupy the home for 2 yrs

Hello BP! I am in the middle of reading Brandon Turner's "The Book on Investing in Real Estate with No (and Low) Money Down" and one of the loan options discussed is a streamline 203k. My wife and I are looking to purchase and house hack our first home and this loan option sounds perfect. I am wondering if anyone has experience using this type of loan and if there is anything that I should know or lessons learned from using this type of financing that anyone would like to share.

Thanks!

ABC Anywhere but Cleveland 

ABD Anywhere but Detroit

ABM Anywhere but Memphis (You've heard of the ABM treaty )

my top goal of 2016 is to make @Douglas Skipworth's list as a turnkey provider!