All Forum Posts by: Andrew Rosenberg

@Dan M. Feel bad you haven't received any responses. Without knowing your deadline or life circumstances, have you considered borrowing from family and/or selling your residence and renting/buying something significantly more modest. Again, I don't presume to understand the details/constraints of your life, so please don't take offense. Alternatively, consider taking on a partner. Better sharing a great deal, than no deal at all.

@Jane Ng Suggest you run a forum search for Little Rock and read through the posts - you'll find the people you're looking for. Post volume is so high on BPs that some posts get missed. Best wishes re: your daughter!

@Jonathan Feliciano I've only rented to a student once and it was a hassle, so take my experience with a grain of salt - in fact, several grains. Most definitely make parent(s) co-sign. Beyond rent collection, factor in higher repairs and turnover costs. In no way trying to discourage you, but just know what you're getting into.

@Henry Cedres You are going to get a lot of House Hacking suggestions because it's a great entry point for the young new investor. Congratulations on starting out early, wish I'd started when I was younger. Good luck!

@Andriy Likhman Midwest - Indy, Kansas City Columus Ohio, etc. The South - Alabama, Mississippi, letc. Are good starting points. Suggest you go on zillow, type in a city, enter your criteria and read anout several properties - this is just to get a feel/gauge for what work for you. Next do BP forum searches of your short list of cities/states - so many posts to read through with great intel. I'm biases towards Ohio because there are several very active posters in those markets.

On a side note, picking the right team is as important, if not more important, than picking the city - within reason. There's many good investment cities, so honestly I wouldn't sweat picking "the best". Make sure to interview several realtors and make sure that they really are "investor friendly". Any realtor can claim they are investor friendly, but if they can't refer you to several good lenders, property managers and contractors they are just another sales person - dime a dozen.

@Lynnette E. Great point! Yelp is a mixed bag. My Property Manager (good) gets a few high reviews from owners and many bad reviews from sketchy/obviously dim-witted disgruntled applicants/former tenants.

Suggest you don't give up on deal too early. Really suggest that you directly interview 3-4 PMs and ask for owner references vs. being swayed by online reviews that are questionably useful.

@Benjamin Kanevsky The Ohio guys will eventually respond. Good luck. Have you looked at Columbus, OH?

@Joe Gallo My two cents: I've invested unsuccessfully and successfully out of state. My common denominator was the Property Manager. Good Property Manager, I'm making money and sleeping good at night. Bad property manager, barely cash flowing and thought about quitting. A common theme among OOS Investors is griping about shady, incompetent and/or useless PMs. Finding the right one involves real vetting. Unless you're super lucky, it's not wise to blindly go with the first name a realtor offers. Is it not odd that most people will interview several realtors, compare a dozen lenders, but go with the first PM referred? Just like the other team members there are good ones and bad ones - bad ones can end RE dreams. Good luck!

@Nick Beveridge Is there a recorded option for OOS Investors by any chance?

@Jon Schwartz You had me at "oy vey". A mensch this Jon Schartz is.