All Forum Posts by: Brandon Benson

@Ali Boone @James Gates Glad to talk with you both very soon! 

@David Gonzalez I completely agree! 

@Carlos Altamirano Cashflow from single family? I would like to see the numbers. I know it is possible, however, constant turnover with short term tenants sounds like a head ache... I desire more passive investing. 

Thank you to everyone for the warm welcome.

@Jo-Ann Lapin Honestly, the reason for the Midwest is my wife has family out there. Not that they will be participating in the investing, however, it is nice to have somewhere to stay, and someone that can drive by the property and make sure it is still standing! I also see many investors meeting the 1% rule and even up to 2%. I plead complete ignorance on Vegas, Arizona and Oregon. Do you have any insight to share, I would love to hear it! My sister lives in Portland and the market has skyrocketed over the past few years, not sure if the numbers work. As an OOS investor I theoretically could go anywhere... Just need to pick a place and get started.

@Peter Mckernan I would like to join the meet up on Wednesday. It is in the calendar! Thanks for the invite.

@Jorge Barboza Jr. @Scott R. - I would be up to meet and discuss sometime soon. Let me know and I can set something up! @Jorge Ruiz

@Brian Ploszay - Well, the exact statistic state the "Median" home price is 788K. This is absolutely astonishing to me. People are leveraged way over their heads and I think the upcoming cycle turn will really bring them back to reality... once again! A recent article in the local OC register newspaper states, an "income required of 158k to afford the average home in OC, which only 21% of OC households earns. INSANE!

The crazy part, the company I work for owns and manages over 60,000 units mostly in Irvine, and a few in Northern CA bay area. ONE bedrooms start around $1600 and the average TWO bedrooms are $2200+ per month. The real fun fact... we have communities in Newport Beach area that on average for the entire community (200 + units) 2 bedroom RENT is over $5000. I spoke to a resident the other day that was paying $8000 per month for his apartment. Yup.

@Nicole S. 

I am in the exact same boat as you.  Following for guidance! 

The argument I currently have with multifamily lies in the exit strategy. Down the road if or when you decide to sell, I believe a nice single family home will draw more interest than a duplex, tri, or quad.  

@Brian Ploszay I wish this was an option. The average single family in Orange county just hit $700K.  2-3 hour drive will get me to duplexes in the $250k - $300k range in very low economic areas and won't come close to the 1% rule. Then the tenants are very hard to come by and vacancy is high. Also, I pushed my search out a few more hours and still not been happy with the numbers.

@Jorge Barboza Jr. PLENTY of high end real estate in CA as you know! I am interested to see what you find on your exploration, keep me updated. I also thought about Detroit as great deals are plentiful, and some big money is coming into the city to rebuild. The city still has me concerned and is not quite the yield play I desire.

Hello BP! Just wanted to quickly introduce myself. Recently join the forums and have been listening to podcast for a few months.

I was a realtor in San Diego for 3 years and currently work for one of the largest RE development companies in CA. Also, I have 6 years experience in property management, and some accounting, finance, and auto experience.

Out of state investing in small multifamily, and single family, buy and hold is my strategy. Value ad would be hard to manage the rehab from OOS and am looking for established, quality areas with good schools and CASH FLOW! May progress to mid sized apt buildings eventually. My wife has family in Ohio which means, I have been looking from Indianapolis through Ohio, all the way to Pittsburg. 

Always appreciate advice as the rust belt is a foreign land to me!

Look forward to jumping into REI

@Shawn Watts

I went to a 'Traveling' school in San Diego about 10 years ago call Anthony's. By 'Traveling' I mean they rented out conference rooms and hotel lobbies all over SD. The classes were a few nights per week for about a month.

They really blasted through the info (lecture style) and had a one day crash refresher course I took a few days before my test. I past the test first try, and credit the hundreds of practice questions the school provided.  All I did was memorize the practice questions for a few weeks.

Recently, I took a Real Estate Finance course at CSUF as a requirement for my major. This class was great! They covered a ton of material and it was structured in a way that most universities do. Lots of info, but spread out and relatable. 

I believe the real learning will begin once you receive your licence and jump in. So much of what you learn for the test will not be relevant once you are licensed and in practice. The most beneficial education I received was teaming up with a seasoned top producer at my office. She had 25 years under her belt and was a wealth of knowledge.

If I were to do it again, I would find the fastest and cheapest way to get licensed (online perhaps) and find a mentor or a team to join. Do your due diligence as many offices will bring you onboard knowing that you will have a few deals right off the bat from your sphere, and give you a lousy commision split.

Hope this helps... just a newbie here so be advised!

@Ryan Evans - Love the air mattress, I assume this is your life of luxury currently!

Following to see how it goes.