Originally posted by Chris Luithly:
Mike,
I have a very demanding job that requires not just the 7 to 5 but I routinely handle phone calls, e-mails, and meetings on nights and weekends.
That is why I want a property manager. I do not have the time nor desire to property manage even if I did have the time. The key is to purchase in areas that cash flow with property management in place. I know that there is plenty of discussion of what areas are good for cash flow rentals. I know that Eddie Ziv lives in California and invests in Birmingham AL.
There are plenty of examples here on BP of investors going outside of their local area to find opportunities that work for them.
You will have to decide if you want to invest for cash flow, appreciation, or some combination thereof.
I would encourage you to keep asking questions and searching until you are convinced that you found something worthwhile.
I have helped several other families get started with rentals here in the area. They will normally ask me to go with them to look at houses. My response is always the same: Go walk through 100 houses and when you are ready to make an offer, I will go with you. You might have already guessed that by the time they have walked through 100 homes, they know what will make a good rental.
Good luck
Chris
Thanks Chris,
Indiana is new to me so that being said I have know idea whats the good/bad parts of Indiana. One of these days i gotta to throw Indiana
