All Forum Posts by: Susan Tan

Kalen Jordan: I did a lot of research and the Midwest is a good entry-level point for people who want to spend less than $70 USD for properties in B or C class places and still cash flow.

In the above link, would the asking price of $62,900 be a good deal as a buy & hold investor? I spend 5 mins doing a deal analysis example as advised by the newbie investor webinar by Brandon Turner. Here are the other info I researched online. What info am I missing? I know that I do not have the inspection report.

Where do I find correct HOA, water fees, utility costs for an example single family home in an area such as Ohio to plug into the Bigger Pockets real estate deal analysis spreadsheet?

I'm a newbie real estate investor. I get really motivated by the idea that I can someday afford $20k art or $1million art as an asset class. I want to do things right with real estate first before starting to invest in world-class art. Having no family and almost no friends as an introvert, I can stay very focused on my financial & real estate goals.

I'm a software engineer in the Bay Area working in the software tech industry. I do not believe in ever getting a mortgage or taking out loans to buy property. I want to only buy cash-flow properties in all-cash for buy & hold in Ohio. In February 2017, I've moved from San Francisco to Oakland to save $295/month on rent so I can save up for buying real estate in the Midwest. My savings rate for post-tax is about 50% each month for the purpose of buying more real estate in all-cash. I live in Oakland, CA while researching how to invest in Ohio real estate as a remote investor. I've been contemplating forming my LLC as sole proprietor to continue to buy more properties in Ohio as a side business and hobby.

I made the mistake of buying my first property by selling $19k in stocks. The big downside is that I'm going to be taxed in long-term & short-term gains in the 2020 tax season. For future purchases, I plan to save up my paychecks directly to buy properties in Ohio and live as frugally as possible in the Bay Area, a very HCOL area while saving up thousands of dollars a year earmarked to buy properties. Why am I not investing in Bay Area real estate? A small 250-square feet studio starts at $500k+ at a class A neighborhood in Oakland and starts at $1million+ in San Francisco. I do not have pure $500K+ cash to buy Bay Area real estate outright.

 If you live in the Bay Area, own properties in the Midwest, and are in Downtown SF during the weekday, I'm happy to meet up for afternoon coffee/lunch to talk about real estate.

Do you think that buying properties using 100% cash from personal funds is a good term-term strategy with buy & hold in mind? 

What is square feet, HOA fees, property management fees, and property taxes?

What is square feet, HOA fees, property management fees, and property taxes?

well done and congrats! What is total square feet and how does the rental price compare to others in this area?

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $64,900
Cash invested: $64,900

I purchased this property from Ohio Cash Flow turnkey on October 2019. 2bed/1 bath. 672 sqft. HOA Fee's : $2,424 per year. Taxes: ~$700 per year. Property Management: $954 per year. This is my first property purchased ever. I live in the Bay Area and work in the software technology industry as an engineer.

What made you interested in investing in this type of deal?

I want to work with a turnkey property management where I do not have to borrow money or take a mortgage. This is an all-cash buy. The price point of below $70k met my cash budget for this year.

How did you find this deal and how did you negotiate it?

I browsed the online catalog from Ohio Cash Flow and read the newsletter of the available properties to buy. I did not negotiate this property.

How did you finance this deal?

All cash.

How did you add value to the deal?

Not sure!

What was the outcome?

I get a monthly income from this property.

Lessons learned? Challenges?

This was really easy because I filled out the paper work online. I did not have to make any executive decisions on what to rehab or repair because this was already done for me by the turnkey company. I learned that I should trust this turnkey company to make good buying decisions and renovation decisions.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

No. Realtors and lenders were not involved in this transaction.

I'm looking at renovating distressed properties to buy & hold for decades as a remote out-of-state investor living in the Bay Area. https://www.trulia.com/p/oh/ci... is the listing. I've asked the realtor for an inspection report. What other info do I need to make a buying decision? How much would renovations cost based on these photos alone?