All Forum Posts by: Andrew Rosenberg

Welcome to BP Neil.  Small world, my family invests in Colorado Springs.  Sounds like you have a good starting strategy, familiarity with the area and boots on the ground.  Unreal property, very cool that it includes a mobile home park AND a second rental home.  Hope to hear updates about your journey.

@Andrew Rosenberg P.S. I'm not the BP Expert Rozenberg. Wish I was related though. Just a small-time investor happy to help other fledgling OOS Investors.

@Joey Shanahan Awesome, you're on the right track Joey! Hope to read a successful completed deal diary post sooner than later.

@Joey Shanahan Are there any cities in which you might have a unique advantage? i.e. boots on the ground (family/close friend), familiarity due to college experience, etc. So many "good" OOS markets, so one way to narrow down CAN be focusing on one that have a possible advantage due to your life experiences and/or social network. Wishing you good luck. Realtors from many cities will reach out on BP and offer their city's merits.

@Tauna Eranio Good luck, definitely time for new tenants. What part of COS? SE?

I'll state the obvious: really focus on developing the right Team(s).  You can be in the best market and still have a nightmare if you have a terrible Property Manager and/or contractor (too many out there).  Internet research, spreadsheets and data analytics certainly have their place, but there is no substitute for the mental/time equity of thoroughly interviewing and vetting investor-friendly realtors, property managers and contractors.  Yes, I know I sound like a broken record.  I think you're right on about Arizona, big fan of Chandler/Gilbert.  Good luck!  

@Gino Volta Good luck, please note that in no way am I discouraging investing in Indy. Hope it works out well!

@Nito Kunda Just want to second Paul's advice, he's hit the nail on the head. Happy Thanksgiving and keep at it!

@Gino Volta Pretty sure you'll get plenty of responses to your post - popular city. Just look about propery tax difference between owner occupant and OOS investor. Indiana is a 1-2-3 state. 1% owner occupant, 2% OOS and 3% commercial. My initial cash flow rough math was really off before I found out. Several articles/websites I had read cited low property taxes and it was up to readers to thoroughly vet.

@Derek Brown There are different types of capital and most of us (myself included) overly focus on financial capital. You are young, low on $ but have lots of time. Many of the posters here envy you despite that sounding crazy to you. Old people are low on time. At your stage of life right now I can't stress enough building and expanding your social network. This goes beyond networking. If I could do things over I would have served more - volunteering is a great way to expand your social capital and build your personal brand. Obviously continue to build your intellectual capital. Work smart and hard, spend modestly and the $ will come. You are on the right path. Surround yourself with successful motivated people and your fear of failure will diminish (never went away for me, but I'm able to manage it). Look up Tony Robbins on youtube, arguably the greatest motivational speaker ever. What I always remember is him saying (I'm paraphrasing) "People fail for a lack of resourcefulness, not a lack of resources". You are young, smart enough to post on BP and I'm guessing hungry - switch your mentality to being resourceful vs limited by resources. Have a happy Thanksgiving!