All Forum Posts by: Andrew White

@Jasmine H., Good to know.  Although we may have cash available to make those kinds of offers, our primary focus is cash flow and growth, so I'd rather use leverage and work up to 15-20 homes instead of going all in on 5!  I'll keep in touch if I land on Chattanooga.  Looks like there are alot of active BP folks there as the post turnout has been pretty strong!

@Account Closed, Here is one that I looked at.  You can see my reply to Bruce Lynn above with a report showing the numbers I ran for it.

308 E Acton Ave, Wood River, IL, 62095

@Andrew Kougl, Good points.  I'm definitely seeing the crime maps go red hot on most good deals IN St Louis, although outside of the city looks much better.

@Bruce Lynn, To clarify, I've been looking at Madison County, IL, particularly near Wood River, just across the river from STL. Two friends of mine have a few houses there and have had very good experiences, particularly once they got the right property management team together. That being said, they're primarily solid cash flowing houses and don't really seem to be seeing any sort of appreciation, but cost of entry is pretty low so it's working for them. They've bought a number of $30-50k homes there that have required less than $5k of initial Capex and are renting for $7-900 / month.

I've included a link to an analysis that I did on one of the homes in the area.  I think I've made some reasonable allowances for expenses, including $5k for initial repairs (NOT looking to rehab/flip).

https://www.biggerpockets.com/...

I'll reach out to you once I spend some more time deep diving on the DFW area. Thanks again for the input.

@Lindsay Lekkalapudi, thanks for the input.  I kind of figured that's something that doesn't necessarily come through on a computer screen when just looking at listing data! I'll definitely reach out if I land on Chattanooga as my market!

Thanks,

Andrew White

Howdy folks,

My wife and I are looking to invest a significant amount of cash in to out of state rental properties with a target of $115k/year in passive income. I got Mashvisor and love the analytics that it offers, as we're trying to hone in on an area to invest in. That being said, I'm looking alot at the St. Louis area, Texas in general(lots of family there), Memphis and Chattanooga and I feel like I'm missing something when I'm doing the analysis. I feel like I'm quite regularly finding on-market deals that look like they'd provide 15-25% CoC, especially in MO and TN.

Outside of hard numbers, what are the other key parts to deal analysis? I'm out of state, so I know that I need to build a team once I've landed on a region and am assuming a good realtor would help steer me away from issues with homes, so maybe that's the part I've yet to experience, ie; 10 homes have great numbers but 8 of them turn out to be duds or disasters once a realtor does a walk through?

Should I plan to make a trip to each of these cities to get a feel for the layouts and neighborhoods?

I guess I'm looking for some advice on pitfalls, because right now it looks, on paper, like I could be printing money in the near future (just kidding...kind of!)  Am I likely doing something wrong, or do I just need to take the next step and start engaging some boots on the ground?

@Beth Traverso, I appreciate it!

Hey folks,

My wife recently lost both of her parents and we are navigating the inheritance process.  The matter is further complicated by the fact that she is a US Permanent Resident, but Citizen of Canada, so it's an international transaction.  We've read up a bit on how inheritance tax is treated between the US and Canada and it looks like the estate will be taxed according to Canadian tax laws and we will not be tax on the money here.

But, it also looks like my wife is the direct beneficiary of some investment accounts that will not be going through probate.  Due to the complicated nature of this, does any body have any advice on how to handle the transactions?

Also, anybody on here provide international tax / inheritance services in the Seattle or Bellingham WA region?