All Forum Posts by: Rich C

Thx for your responses. With the possibility of 3 returns, I'd rather just wait til Jan 1 to move, at least getting one return out of the way.

Bill - have you acquired properties by simply getting in contact with an owner and making an offer even though the property wasn't listed? The areas I looked at were based on vacancy rates, employment rates and price to rent.

Michael - I've read many of your posts about your investments, thank you for your suggestions, they sound great. Do you use a property manager? Interesting how no lender is considering mortgages that small, definitely see how that scenario is perfect for a rental investment environment. I imagine there are probably many other areas of the nation like this as well, I'm thinking a search of land values and then googlee maps and demographics data would yield some good info.

Thanks for your responses. I am not handy and have never owned property, I want to capitalize on the current low prices and mortgage rates with the money I've saved. For around 3 months now, I have read several multi family investing real estate books, this forum, other Landlording websites and done very basic online research (Craigslist, Loopnet, Trulia) on available properties to test different markets and what I've learned so far. My goal is to buy and hold income producing rental properties that return 15 to 25 pct of invested capital, and sell when either prices appreciate or enough equity is built up to allow the purchase of a larger property twice the value of the previous purchase. I'm having a hard time getting started with this idea. Also, I need to buy out of market because metro NY is totally unconducive to my goal, so that means hiring a property manager which I understand adds another layer of complication. I've been thinking Raleigh, Savannah, and Rochester so far but what I've found isn't impressive. I'm thinking brokers are the best source of properties because they want to do the best deals without ever listing the places to collect double the commission, am I right? I have yet to call them because I want to get more educated first so I come off as pro as possible. Where can I find some good properties that might allow me to fulfill the aforementioned goal, am I going in the right direction?

If you had 50k to invest and no properties or real estate experience, but only knowledge, how would you choose to begin your real estate career?

I'm a new investor, planning to move from New York to South Carolina to have access to the real estate markets of the Carolinas and Georgia. Say I live in S. Carolina, but buy a 4-plex in Georgia. Do I need to file 3 separate returns - one in NY (for the time I am still living here before the move), one in SC (new primary residence) and one in GA - or just 2, the SC and NY returns?

Also, what are the best single/multi fam rental markets in the southeast and is it worth the move?

Thanks for your input.