All Forum Posts by: Steve Endress

@Lane Kawaoka Yes, SFR's are a bit of a pain--I've got a big bunch in four states. I also have a multifamily with a similar number of units as my SFRs and it is a different kind of pain. When people ask what I think is better and I always say 'it depends'. Half the time, I love the simplicity of MFH and hate the complexity of SFR, the other half of the time I love the returns and exit strategies and fully-amortized mortgages of SFRs and hate the risk of MFHs. So, I still think a mix is the best, however painful and imperfect that is.

@Kevin Byrne I have purchased several turnkey homes in Memphis and have been successful.  They are upper-middle class homes.  I also own a bunch of middle-class homes in Indy.  I'd be glad to talk with you about the similarities and differences of the markets, vendors.

I am an out-of-state investor and have quite a few properties in Indianapolis.  I haven't worked with a traditional turnkey company there, and my properties are all 100K+ in nicer areas.  If this is what you are interested in, then I'd be glad to share further.

@Vincent Park  I think you should add Memphis Turnkey and Alex Craig to your short list.   I've used them several years and find their company size to be the perfect mix.  Also, don't underestimate ease of accounting when you are talking about how smoothly your investment goes over time.  I have terrible things to say about Propertyware and great things to say about Buildium!

@Matthew S. I would not go the duplex-quadplex route unless you are buying brand new in very nice areas. Either stay with SFR's which have many more exit strategies than duplex/quad or go to commercial residential where you can keep the complexities down. Most guys do the 2-4 unit stuff because it still qualifies for long-term fannie lending. With you not needing to do that, I'm not sure why you would take risks with any older property (pre Y2K) or small multi-family.

@Torgeir Willumsen  Memphis and Indy doing very well, Houston-area very bumpy.  Also, virtually no appreciation (desktop appraisals) in Houston area (Galveston, TX City area specifically) over past two years while in Indy over 15%.

@Grace Wang I own 10+ SFR's in Indy and almost all are outside the 465 loop. out-of-state investors need better tenants/properties/neighborhoods IMO. Start there, keep the age of your properties low (all of mine were built in 2000 or after). Returns won't look as good on paper, but my experience with different classes of properties (A, B, and C) has proven otherwise.

@Andrew R. I have properties in Houston and Memphis.  Costs are higher across the board in Houston and so are the rents.  Would be glad to talk about my experiences in those two places.

@Ben Dunning glad to hear your passion.  I am from IL and currently own multiple properties in each of the three markets you mentioned.  I've also used Turnkey and DIY and would be glad to share my experiences with you.

@Allan Fisher I live in IL and invest in Memphis and some other midwest markets.  Would be glad to share my experiences with you.