All Forum Posts by: Tom Ott

First off, I admit that I know very little about Memphis and the purpose of the post isn't to trash Memphis.  I read on many posts and hear on the podcasts that Memphis is the greatest place for cash flow.  However, I've been "shopping" on Loopnet for a while and see hundreds of very cheap units listed there.  Many properties have high vacancy rates and need extensive renovation.  If Memphis is such a great area to invest in, why aren't investors snatching up these units and renovating them like they have in other parts of the country?

Hello All,

I am an out of state investor that resides in Newport Beach, California. My team and I invest in Cleveland, Ohio and as well in California, Florida, Washington, Oregon, and attempting to break into the Indianapolis market. We focus on flipping, buy and hold and wholesaling properties.

I am wanting to connect with other investors that are in the Cleveland market or in any other market that we happen to be in or not be in. I am hoping through connecting that we can form a beneficial relationship for both parties and bounce some ideas off of each other.

I'd like to hear from you folk and to see where that gets us.

Thanks!

Hi. I am trying to estimate how much the water/ sewer bill will be for a duplex in Cleveland, OH  ( I have 2 duplexes currently in escrow)

There is one meter for both units, so landlord is responsible for water bill. This doesn't give the tenant much incentive to keep the water bill down. Just wondering how much it may cost me on average for these bills.

Thanks in advance!

Hello all,

I'm a newbie investor from the west side of Cleveland looking to get into rental property investing soon after I graduate from Ohio State. What are some good ares you all would recommend for a duplex? I want to get some skin in the game early and create momentum.

Thank you for any recommendations for me going forward, it would greatly appreciated! 

So I’m 18 years old and am looking to start really diving into real estate investing. I have taken time while on quarantine to learn as much information as I can about the proper steps a beginner should take to begin real estate investing. I have a plan loosely in place but would definitely prefer to run it by a few investors and see what they feel my first steps should be. Any advice or any good information you wish you had known early on I would love to hear!

Hi BP Community, my name is Tennessee and I live in New York City. I am currently working from home and using the time that I save on commuting to buy an investment property (/ies). My primary interest is MFH and SFH in the Midwest area, namely Indianapolis. Thank you for all the information and ideas shared on the BP forums - I look forward to connecting!

HI ROCKSTARS!!! 

 I am a newbie investor making a move on my first investment adventure. Long story short, I live in Hawaii right now and looking into acquiring rental properties in mainland where SFHs under 100k are widely available. I've been talking to some realtors and property managers in Memphis, Cleveland and Oklahoma areas. 

My obstacles are getting mortgages because I moved overseas for a year for business start up, came back and had a part-time job for a few months, then got my real estate license at the end of last year.  I am so fortunate that I have families and friends who trust me enough with their own precious money that I have private money to invest. 

I had to skip many steps in between from my new business being blocked by monopoly market, to moving across the ocean 2 more times (Okinawa-Montana-back to Hawaii), getting divorced and savings going from 6 figures to almost none. I spoke too much haha. 

Anyways

Here are my questions and concerns:

Q. How would you minimize the risk of all in cash investment in time like this? Because my concern on this is losing equity if housing market tanks.

Q. Any other funding methods you could think of if you don't have almost 2 years of steady income history in US?

Much appreciation for reading my post and sharing your bright ideas

Masa

Aloha

Hi Rockstars!!

I have seen those so called all-in-one investment companies who help you from finding a deal, closing,  managing rehabs, putting tenants to PM. For first time out-of-state investor like me who lives in the middle of the pacific ocean, this couldn't sound more enticing than anything. Or is it too good to be true? I have been talking to some realtors in a handful different states/cities to learn the area right now so that I can narrow down what city to invest in. Then I started running into those all-in-one investment companies. 

Have anyone had experiences working with those kind of firms?

Pros/Cons?

Thank you so much in advance!!

Masa

Aloha

Hello, my name is Caden McBride and I reside in San Antonio TX. I'm currently 19 years old, in college, & living with my grandparents. I want to start building wealth through real estate. I have also, been listening to the BiggerPockets Real Estate Podcast for a few months now. I've also read a few books like "rich dad poor dad", "Why we want you to be rich", & "The richest man in Babylon". I watched hours of YouTube videos & I have a good basic understanding of real estate. My short term goal is to build about $4,000 per month in passive income.  Now, my question for you all is, what do you guys think the best steps are to achieve that? (Flip in Fix, Buy and hold, airbnb, Comercial, single family, Wholesaling) Thank you!

Just some basic info about me:

credit score: Approx. 720

Funds available: 5k

Knowledge of Real Estate: Basic - Basic+

Deals done: 0

Hi! I am completely new to real estate investing and am looking to invest in a new property. Many in my area are really beat up, how do I go about finding out the estimated costs for budgeting purposes to see if it's a deal or what I can offer for it? Does anyone know of any hacks to rehab costs? 

Thanks!!!