All Forum Posts by: Trevor Lohman

@Susan Maneck

yes it's definitely retail (off the mls) are you finding deals on mls or doing something a little more hands on? 

Thank you for the on the ground insight. This is awesome, thank you so much 

Ali Boone I know you do a lot of OOS. Have you ever had any experience with the Jackson Mississippi market? I hear a lot about Indy, Memphis, Kansas City. Just curious

I just shared this with my wife expecting to have a laugh, And she was like all my friends want to do airbnbs out there for bridal showers and stuff. Haha I had no idea! Wow. Looks like you're on to something

Hi BP community,

Just curious what you think about these estimates. 

Rent of 865 is based on a current tenant so that isn't an assumption, but curious if you would tweak anything. I'm getting some more info on what specifically was done on the rehab, and that will definitely have a big impact. Just curious if these look like realistic assumptions. I think I may need to raise the maintenance percentage a bit maybe? Also, tenant pays all utilities.

Sounds awesome Jeff! I just bought an sfr in st Claire place. I'd be interested in learning more about joining your group. Best of luck!

Matt I just got caught up on some of your more recent posts, it looks like you've already addressed a lot of these points so I won't make you repeat yourself. 

I'm definitely less anti-california than I was, but I'm going to give the out of state thing a shot. 

Of course I think I have an accurate set of numbers and a good team, but If it does happen to turn out poorly, it will be a relatively inexpensive lesson, and by then maybe I can afford to get into something local. 

Thanks for the good insight! Especially on the california market trend/historical number stuff, great points.

@Matt R.

I'm definitely a newbie and you obviously have a multitude more experience than I do, so this genuinely is a question. I want to see if i'm thinking about this right because I do agree with everything you just said, except I still think I'm staying out of state... for now at least. I have a completely open mind about this and I'm wondering if you can talk me out of it or not. 

Doesn't this rely on buying a property prior to a pricing run up? Wouldn't now be a time to be in a less cyclical market? It seems like day 1 cash flow would be a very valid metric, at this particular time, but not necessarily all of the time. Relying on the day 1 cash flow metric would have been very prudent in 2007. A lot less so in 2002. 

Even my area seems unreasonable and I'm in San bernardino county. My primary residence has almost doubled in value over 4 years. Which I think proves your point about appreciation, but again only if buying several years ago. 

One more point about rent. It just doesn't seem like rent appreciation keeps up at all with price appreciation here, but in more linear markets it does. Granted a mortgage is fixed though, so I definitely see your point there! But again, we still have to rely on this market appreciating to achieve that cashflow.

I think your post has been one of the most compelling for me on this particular issue, and I plan to acquire some local properties and self manage in Southern California. Just not right now.

Ha! who knows, this might be 2003 and I'm going to miss out big time. Curious what you think, and what others think as well.

Sure thing.

Let us know how it works out Mark, I just bought one in Indianapolis so am curious what type of pricing you're able to get. I'm out in so cal as well and am new to this. Maybe we can compare notes a bit, Trevor

I'm sure it can!

I just think you bring some stress into your life when losing money each month from your investments. It turns into a bill and I think that's tough long term.

Although I'm sure out of state investing can be as or more stressful too. Pros and cons

I'll pm you the pro forma on the out of state house I bought for a comparison. I'm not steering you either way, I hope you find a strategy for local investing so I can copy it! Lol