All Forum Posts by: Tim Ryan

Hmmm. Didn't realize this is a method. Usually when you buy a property you either decide 1. flip it as soon as possible or 2. hold for a rental long term.  I've done these "slow flips" several times, but not intentionally.  That's actually a great aspect of real estate, if things don't go as planned, wait it out!

Hi Kim.  For us in California the main metric is not "low cost". Everything east of us is low cost.  The key is "path of progress" and "growth markets".  This is found in areas that are gaining in net job creation.  Where is a large manufacturer moving to? This has been happening for decades with Cali companies relocating to Texas. Now some of those markets are too expensive or too saturated.  The key is to find one market in its early stage of growth.  

I'm actually having an investment meetup next Tuesday about this exact subject! You should come. It's in the Pasadena area.

I would not recommend this to a new investor or who is not from the area. But you are active, with 18 SFR, and you know the area. You should know if you can upgrade with the 60k that you can get the rents up the $150-$200 they are under market right?

I think the deal looks good and for sure you should get into multifamily. Numbers are good.

However, of course there is more due diligence to do. Who pays utilities? How much are they? Other expenses that may be high? Maintenance?

Ha, good and funny read Don! 

I owned apartments in Fort Oglethorpe but that's because it was close to Chattanooga, TN and I have heavily invested there a few years ago. I'm not sure about the areas you mentioned. But the question to ask is if there is anything new coming to those areas. Manufacturing, tech, basically are there new jobs coming?  If not, then I would not be looking there. My guess is these are relatively close to you so you can drive.  Here's my investment motto: "Live where you want to live, Invest ONLY where it makes sense".  So, you might need to go out-of-state since the goal needs to be to invest in growth markets. DM if you want to learn more about how I'm doing this.

There is a FIBI Group in the South Bay. Type that in Meetup.com

I have a Real Estate Meetup in Pasadena. Drive on out. We meet at one of my development projects rather than a hotel. It's fun.  Great topic coming on June 18th at 6:30pm.

My daughter lives in Redondo. Maybe we can connect sometime and talk real estate over coffee.  But you should come out on the 18th. Let me know and I'll send the details.

I experimented in it years ago then decided not to do Section 8 as a strategy. I will have one apt from time to time with a Section 8 person but I would never operate a Section 8 building. Too much work even though it is nice to get the funds on the 1st of month every month.

Boy this is tough to answer. Since you are saying house hack, you'll be living there. I don't ever think about this as my motto is "Live where ever you want, invest only where it makes sense".  Either way, the key is to go to a "Future Growth Market".  Houston had its run. Why would you go there, it's too late. Same for Nashville.  I know most people wait to hear everyone else talking about an area before they will believe in it. I don't invest that way. Go where people are barely talking about but you can see the area growing. So here's my recommendation - Milwaukee area!

Hi Seth,

I love the way your are thinking about this. I have been telling people for years now that it is not just ok to buy investment property before your primary residence, but I prefer it.  Using your money to make money is always a good idea.  The way I did this, and I started at about your age and with a wife and 3 kids, is I learned quickly that I need to buy out of state. Just because we live in Cali does not mean we need to buy here. The other decision I made early on is to focus on long-term rentals for wealth building.  Your day job can keep providing your income for your lifestyle. I would not chase the flipping game.  So much more I can tell you. DM and we can connect.

Good post @Logan M.. Motivating. You're killing it and it's good of you to share your knowledge and success with all of us.