All Forum Posts by: Torey Chumbley

@Frank Sousa, The way I read it was that someone local needs to be in place to handle disputes with and/or complaints by neighbors. If I misunderstood the ordinance, I would be very happy. 

@Jimmy Woodard, thanks for the link! I will check it out

Also, I just sent you a DM

Torrance 

@Mark Miles, Thanks for the tip about FB, I hadn't thought of that!

I am looking into buying my first STR and because I live within a short drive, Tahoe City looks like a good bet. The numbers seem strong and unlike South Lake Tahoe, they still allow STR's but with one big exception. The owner must have someone local in place that can deal with certain problems in person. This seems like a huge road block and since I plan to self manage, this could be a deal breaker. Do any of you own in Tahoe City, West or North Shore or in Placer County? How do you get around this requirement?

Thank you!

Torrance

Thanks for the help guys! I spent lots of time today driving neighborhoods and checking out houses for sale. Thank you to Crestcore realty for providing me with a map and some sample listings, it was a huge help! My favorite areas at this point are Bartlett, White Haven & Raleigh. I found about 5 houses that I will take a close look at and possibly make an offer on. At this point I am very happy that I decided to make the trip here to check out the neighborhoods in person. They vary so much in Memphis! This visit will give me the peace of mind I need to buy a rental in an area where I do not live. I don't know how some investors can buy homes in areas that they have never seen. This trip has been eye opening to say the least. 

I am visiting family in Texas and decided to make a side trip to Memphis for couple of days to check out the market here. This will be my first rental and I want to play it fairly safe. Do any of you have thoughts about the best cash flowing B neighborhoods in the Memphis area? I would also consider C neighborhoods in certain situations

Thank you!

Torrance

@Mitch Messer, thanks for your insights! To answer your questions- My strategy will be buy and hold, my why is to replace my income in retirement. (I recently turned 60 and I am selling my business). I live in nor cal and plan to invest out of state. I will need training to teach me the ropes. Basically, I am trying to mitigate the possibility of making mistakes that will waste time and money.

Torrance

Hello BP friends,

I am a newbie only in that I have not yet purchased my first property. I have spent lots of time on and off again over the last few years learning about RE investing but never felt ready. I feel that taking a course will give me the confidence and the push I need to be successful. I am considering two at the time and I would love your feedback about your experiences or just general thoughts about either one.

They are "Brian Ellwood's REI course" and Roofstock's academy. Both have their strong points but I need more info before I decide.

Thank you for your time!

Torrance

@Lee Ripma, Thank you for your insight. I guess that RE investing courses are like most other forms of investing/self help programs out there. Like you said; most people never take action. Can you imagine the impact on this industry if the percentage of people who took action was even 50%? You can't blame us for trying though, we see what you and others have done and want that for ourselves. In the absence of a mentor to guide us along, signing up for a course is the next best thing. BP is a wonderful place to learn and interact, but I don't find that it can replace the power a mentor can have in my success, so taking a course seems like a reasonable option. You also mentioned that I should work on my mindset. Can you please expand on this idea please?  

Torey

@Amanda Toy Thanks for clearing things up. You’re right, I am looking for advice and I am thankful that you took the time to share your experiences with me. I have not decided either way about the academy. I am still open to it at this point but I need more testimonials from real people like you before I throw my hat in the ring.

Thanks again!