All Forum Posts by: Account Closed

@Account Closed I picked a place that (thanks to extended family) I visited 20+ times growing up. And I grew up in a family that had SFR rentals bought to "send the kids to college". Consequently, I don't want to be a landlord so being absentee for me was a given. Being absentee is 50/50 of the risk. But the market I invest in also allowed me to buy multifamily and newer as a yield play. So (in a counterintuitive way) I risk adjust by not doing a value add fixer, deal with remote contractors, etc. I have lost many "value add" deals because have to risk-adjust the purchase price. And I also have money in the stock market so it isn't an either or for me.

For what it is worth, I do double expenses in my pro-formas to adjust for absentee-ism! 

@Account Closed I think Minneapolis still has plenty of room left for good deals.

@James Galla I agree with that list!

I would take a look at this Macquarie bank list shared by Business Insider: high-grade tech regions.

Portland OR, Minneapolis-St. Paul MN, Akron OH, Albany NY, Durham-Raleigh-Chapel Hill NC, Austin TX, Cambridge MA, Silicon Valley CA.

What kind of job are you looking for? If software engineer, have you ever considered consulting? It's one of those careers that may potentially allow you to earn high income in a tech hub, but invest in a cash-flowing market because of the travel perks.

@Account Closed I don't live where I invest and you're always going to have more challenges, such as: 1.) you can't really drive by the property to see how the PM is doing, 2.) it's just plain harder to know path-of-progress and stuff like that from thousands of miles away, 3.) along those lines, it's hard to see which areas are getting worse that you want to avoid, 4.) local community banks will often look at your sideways when your address isn't local, 5.) there no way to house-hack if you don't live there, 6.) I'm probably forgetting more than few other things...

And the other side of the coin is that most cash-flow markets have cheaper properties even in nice areas.  I'd imagine a 1,200 ft tear down in Palo Alto is more than a 5,000 sq ft new-build in Akron (if there is such a thing).  I know that's a hyperbolic juxtaposition but you get my point.  

Agreed, Columbus Ohio is a terrible place to invest. We have no jobs, no growth, the real estate market is completely stagnant, the cost of living is outrageous and there's literally not a single good deal to be had.  Our only computer was lost in the recent riots, so there went our tech job. 

*shifty look* 

We need more information to answer that. Are you paying cash, because then it is a great place to cash flow. If you are financing all of it, it is more difficult. Overall, the market in Raleigh is very hot and nice houses go within a week. Houses that need work, are priced as if they were pristine.  You can work the price down, but still, finding a great deal is really tough. On the flip side, houses rarely stay vacant for more a than a week or 2, and rents have been going up.