All Forum Posts by: Trevor Jacobs

Hello BP Family,

Does anyone have an experience with Memphis Invest in Dallas or Houston? I am looking to invest there, however would like to know of any good or bad experiences people have with either Memphis Invest or the City you invested in. How are their estimates? Do they calculate the high property tax in the area? Any other advice or words of wisdom you can add would be greatly appreciated. 

I know there is a very divided section on BP that either love or hate turnkey rental companies, however I would like to know what turnkey rental companies have a solid record of always performing to par and causing few to no headaches for people. Who have you worked with and had a good experience with? 

Also, can anyone confirm/deny if Roofstock, Norada, or Homeunion/Investimate are good turnkey companies? Thanks in advance.

@Isaac Pyle

It depends on your strategy. Are you trying to build equity, appreciation or cash flow? I looked in that area (while i was at CU Boulder) and what you will have is low cash flow, but high appreciation over time. 

For example, my Olympia, WA property was 290k, and i am only cash flowing about $50/monthly, however the home value will go up significantly in the next few years and (in my mind) makes up for low cash flow. I also have two properties in central Oklahoma that i purchased sub 50k and are cash flowing ~$200 month each.

I would recommend that the mid-west/south would be your best bet if you are looking to meet/exceed the 1% rule and get a good start.

Isaac

I have the motivation to want to invest in rental properties, however there are a few factors holding me back. 

1) I am in a market where housing costs are rising significantly and are out of both my budget and risk-taking desire, which more or less forces me to invest either far away in-state or out of state. 

2) I am unaware of where to try and start looking for rental properties, or where a great market would be, as my price range is around 40-50k. 

3) I am fearful of trusting the wrong people, which is necessary if i want to purchase out of state (property manager, contractors, agents, etc). 

4) Lastly, I think just normal analysis paralysis and fear of failing, especially on the first property. I feel if i can knock the first one out of the park my confidence will rise to accept more and more risk.  

Hey all,

I am looking to buy rental properties in areas where the average sale price is 40-50k. I have a hard time getting solid information about loans from banks and other entities. 

Do any of you have any recommendations about what banks/institutions i should get a loan from? Other foolproof ways to finance instead? Thanks for your input in advance. 

I am currently looking at Lawton, OK for a potential first city to buy a rental property in. The city has the general price range I am looking for and can expand with rapidly, however my research in the area came up limited. I lived there while i was attending BOLC with the Army, but did not pay attention to the housing market in the least bit. 

Does anyone with property in Lawton recommend it as a good place to start? is the rental market soft or strong? If lawton is not a good place to start, what suggestions do you have? Any insight is greatly appreciated.

Eric,

I agree with Don about being south of downtown. I grew up in the Ballantyne/Piper Glen area, and there are great neighborhoods and schools in the area. However, with the price point you have i see it being difficult as housing prices in the south of downtown have increased significantly. 

I would recommend looking at the university area, where prices are relatively low (for now) and you will see cash flow and appreciation.