New member residing in Fountain valley ca

[Glorianne Wong]

Hello

I am a real estate investor newbie currently living in Fountain Valley CA. I really appreciate this forum and have learned already so much from the podcasts! I'm  always listening 

In my car on my way to work and whenever I have a free moment.  I am interested in the buy and hold strategy 

Concentrating on multi family in the out of state market. Looking into Grand Rapids MI area. Would like to  connect up with someone local in area to find out more about it and maybe Other areas that might be good as well . 

[Jake Thomas]

@Glorianne Wong I am a local investment realtor in the area that works with several BP members. Getting the 2% rule is increasingly difficult in this market unless you're using cash and the property needs some rehab. Most turn key properties are closer to 1.0-1.5% but you also have to take into account some rents are very low for long-term tenants and they are due for an increase to make the property more profitable. I had a duplex earlier this year with 1 tenant paying $500, we gave notice did $3,000 worth of work and now rented for $900. Thinking of things like this will increase your chances of finding a good property since turn-key comes as a premium. But, turn key is less hassle and better suited for some investors. Good luck and let me know if I can help.