All Forum Posts by: Alan Reza

@Jarrett Harris Congratulations on closing your 2nd deal.  If you have time and wouldn't mind sharing the numbers that would be great.  It's always good to see how other states numbers break down.  Was your purchase in Illinois?

Welcome @Yusef Griffin!  You are going to love BiggerPockets!  I too was inspired by Robert Kiyosaki's Rich Dad book.   In addition to Rich Dad Poor Dad Check out @Scott Trench's book, "Set for Life" or @Brandon Turner's book, "The Book on Rental Property Investing", both available here in BP Marketplace

@Neel Jain That is interesting that Kansas City did not make it on your list.  Which state have you narrowed it down to as far as OOS investing?

@David W. I focused on the three cities that have been mentioned in almost every post.  I noticed that Indianapolis, Kansas City and Ohio are always mentioned when discussing best places for OOS investing for cash flow.  As for my grid in the first column I listed the source that I found the information.  

Short Term Rentals near Disneyland are now banned by the city of Anaheim.  There is a negotiated phase out.  For more info, you can look here: https://www.anaheim.net/574/Short-Term-Rental-Prog...

Basically, disney has deep pockets and lobbied to get the municipality to enact a ban in order to ensure that Airbnb and VRBO don't harm their hotel income.

I've been working on this chart to break down how I compare the three cities we're looking at for out-of-state investing: Indianapolis; Kansas City; and Cleveland.

So far, despite the higher median home price, I'm leaning towards Kansas City because of the greater population growth, higher ranked STEM careers in the overall occupations of  the populace and greater number of "above average schools" making it a more desirable place to live.  

Anyone have any other thoughts about the data and/or real life experience of comparing these three areas?

Check out NOCREI meetings.  They meet once a month on a Tuesday at JT Schmidt's in Anaheim, near the stadium.  Its often posted here on BP as a Network meeting.

@Salvador Garza I'm assuming your young, not married, not kids yet.  You're in a perfect situation to house hack! Check out Scott Trench's book, "Set for Life" or  Brandon Turner's book, "The Book on Rental Property Investing", both available here in BP.  Or just go into threads and learn about House Hacking.  Basically the premise is that you buy a small property (maybe a 2-bedroom or a duplex) and rent out the portion you don't live in.  That way someone else is helping you pay the mortgage!  From there, you start to snowball the profits and upgraded to bigger opportunities.    

@Salvador Garza I am not too familiar with oos investing in Tacoma we were looking in Clarkston Washington, Lewiston Idaho and Moscow Idaho. Price to rent ratio was not very good 

We've been watching Prop 10 closely to help decide whether we want to own rentals in CA or out of state.  If the majority of the population, and hence the majority of voters are not property owners, it could potential lead to anti-owner type legislation.  For example, repeals of the current annual property tax increase limits, or even limits on rental income or its income tax treatment in the state.  It could create a bi-polar between the electorate where it becomes an us versus them type owners versus renters environment.