All Forum Posts by: Ayana Miller

Sending you a private message, @Kay Mays!

Thanks for extending the offer to ask questions, @John Lim! 

I'm particularly curious about hotel industry trends: Why is now a good time to invest in hotels (either through REITs or through single hotels)? With competitors like AirBnB and HomeStay showing no signs of slowing down (despite a challenging regulatory road ahead), what are the gaps and market opportunities in the hotel market? 

Looking forward to the blog post! 

I agree with @Thomas S. 

Also, to find out what the trends are, I would suggest thinking like your target audience (renters). Join some FB groups tailored to people looking for housing/roommates in Atlanta (and surrounding areas). They will tell you exactly where they want to live and how much they are willing to pay :) It will alos give you a sense of whether are finding rentals with roommates or can afford to live alone- which may also impact which route you may go (e.g. rent rooms within a SFH or get 1 bedroom duplexes).

You can also read/listen to local news to get a sense of new commercial development/retail and economic trends. This will give you an indication not only the present, but where the opportunity (and people) will be 3-5 years from now. 

Happy investing! 

I’ve been researching, saving, and creating a game plan for about three years. I put in offers over that time, but not nearly enough to actually get anywhere. I’ve learned so much since then. I’m actually grateful for all the contracts that didn’t work out. 

I finally gained momentum this past year with 3 multi-family buy and holds (18 doors and counting) and am looking to scale even more for 2018. 

Welcome @Eric Schuster 

My answer to your question about avoiding areas where there's a high concentration of rental properties is: It depends.

There are a lot of factors that can impact how many rentals are available at any given time and it can be hard (for me, at least) to know what "a lot of rentals" is without looking at trends (time series) over time. 

I would argue that it in Newport News, in particular, areas where there are places for rent is a good indication of where investor activity is taking place. 

Trends such a military spending/deployments, time of year (school  months versus summer months), and commercial activity (Tech Center/Whole Foods) all seem to impact the rental market in Newport News to a considerable amount. 

Denbigh tends to have a considerable amount of condos and town homes for rent, but as @Edward Barnes mentioned, the HOA fees can eat into cash flow when you run the numbers. So it's important to run the numbers.

However, the Denbigh area also is very attractive to military service people because of its proximity to bases. So, yes, vacancies may be higher (due to military movements), but if the prices are right, then it can be a good strategy. I know of a few investors who do buy and holds primarily in Denbigh with condos as their primary strategy with great success.  

A buy and hold strategy in Hilton would be excellent if you can find a duplex (or any multi-family), but they are difficult to come by. The challenge with Hilton (and many desirable areas of Newport News), is that the price of homes is such that anyone who would pay rent that would cover the cost of a town home (as a buy and hold investment strategy) in Hilton would also be very likely to want to own and can likely do so. In other words, very few things are for rent in Hilton because most of the properties are SFH and are owner-occupied.

Interested in other thoughts too! I grew up in Newport News, but I'm always curious about other's perspective. 

Happy investing! 

Welcome back, @Kay Mays! 

I started with buy and hold (multi-families) and love it! I think your strategy sounds like a good one: focus on one sepcific goal in one area and go at it with everything you've got. Once you've truly mastered that area, then you can master another strategy and achieve other goals when the opportunity presents itself. 

Best of luck to you!
 

Congrats on passing and jumping in, @Cale Myrick!

Welcome, @Matthew Edelen!

Welcome, @Mason Moran! 

I do buy and hold investing as well, so I won’t be of much help on flips or wholesale info. 

There’s lots of good info on the forums and people on BP who have experience in this area for Hampton Roads specifically, so wishing you all the best! 

Thanks for the RSVPs, everyone! Looking forward to seeing you on Saturday.