All Forum Posts by: Walter W.

Seth,

Have you seen the property in person?  What neighborhood is it in? Do you have a property manager?

Hi Brian,

Let me know what you find-I am looking as well. I found one firm that seemed good (shoot me a note-happy to share), but I want a few more names. 

I believe you can use a self directed retirement account for HML.

@Dan G. my take is that rents in the mid-west should increase with inflation-maybe more maybe less depending on the area. But no one has a crystal ball so who knows!

I want to caution you - declining property values will decimate your overall returns. I too am interested in cash flow and do not speculate on appreciation. But my best returns by far have come from appreciation. All of my properties have modest cash flow, but I also target growing areas that have appreciation potential.

Do the math and you will quickly see the impact of declining property values. If you need a guide to the math in real estate, read this book: http://www.amazon.com/Every-Estate-Investor-Financial-Measures/dp/0071603271

Lastly, my advice is to stay close to home. I believe this is why @Jay Hinrichs recommended Orlando in the first place.  I would check it out if I were you-seems like an interesting market.

Good luck!

Welcome to BP. Kansas City is a great market. I would suggest starting with a Fannie/Freddie loan to buy a 1-4 unit property.  Feel free to reach out directly-I am happy to help if I can.  

Welcome to BP! Let me know if you ever want to get coffee. I work in Bellevue. 

Try credit unions. I work with Sound Credit union. They were the only one I found that could do a HELOC for an investment property.

Welcome to BP. Have you considered buy and hold in Beloit? Starting close to home where you have the advantage of knowing the area is immensely helpful.

Great discussion. 

It is interesting that Sam Zell is selling-and that Starwood is on the other side of the trade.

"Chicago-based real estate mogul Sam Zell added to the fodder Monday, when he announced his Equity Residential would be selling off 25% of its portfolio of apartments. More than 23,000 apartments were included in the deal, which the REIT sold to Starwood Capital Group for $5.4 billion.

Most of the apartments are in low- and mid-rise buildings and are in suburban markets including southern Florida, Denver, Seattle, Washington D.C., and southern California. Equity Residential indicated it plans to sell 4,700 suburban apartments in western Massachusetts and Connecticut soon, too."

http://www.valuewalk.com/2015/10/sam-zell-crash/

Love it! Keep us updated.