All Forum Posts by: Account Closed

Thanks Ross and Michael!

After talking to a few people in and around the area, I'm leaning more towards the suburbs in Delaware County (Delco). I've heard that property taxes are higher though, but there must be some pros there if the home prices are slightly higher, right? I don't believe I saw a lot of property management companies in that area so that might be a risk. Any thoughts on that region?

Hey Joe, thanks for sharing your thoughts! Great point, that makes perfect sense. I guess this makes taking the time to choose the right market even more important. My guess is that most people who have multiple properties across many states would opt to hire a lot of property managers, but I can imagine there would be a lot more unpredictability in that scenario. 

Hi guys,

If you had a choice, would you rather own 1 property in each of the 50 states or own 50 properties all in 1 state? 

My initial thought is that the first option would make preparing taxes a lot more expensive or cumbersome, since much more nonresident state tax returns would potentially need to be filed. But on the flip side, it must be exciting to own properties scattered across the United States instead of them all being concentrated in 1 or 2 spots.

Which would you prefer?

@Ross Yeager

Thanks! 14 out of 15 rent paying tenants doesn’t sound too bad :) must be a pretty decent area. Sorry to hear that you won’t be able to collect from one until after the middle of next year, that must be costly.

Ah you would recommend other markets? I have invested in Memphis before but haven’t scaled it up too much and it seems to be doing pretty well, but from what I heard it can be a hit or miss there.

What other markets would you recommend?

Great, thanks Elise and Filipe! Really appreciate the insight. Sounds like Pittsburgh is more investor friendly. I'm still leaning a bit more towards Philly only because it is within a 2 hours drive from where I'm currently located. But it sounds like there's a lot of different options to explore at this point and this is all really great info.

@Filipe Pereira

As for returns, I have heard there’s a sweet spot in every market, so maybe as close to the 1% rent to price ratio after rehab is all done while still being in a pretty safe neighborhood. I also realize the lower crime there is we’re looking at closer to 0.8 or 0.9% to rent to price ratio which is probably ok as long as there’s profit to be made on the flip.

@Filipe Pereira

This is insightful, thanks for sharing! I haven’t considered that thought before: finding the 1 distressed property among a sea of great properties, that sounds like a great idea. Any insight on what makes that a better investment vs buying in an area with lots of distressed properties?

I’ve mostly looked near the southern parts of CT last time I browsed. I’m curious what parts of CT you would recommend?

Thanks!

@Ross Yeager

That’s awesome, it must be a pretty decent market if you’re investing all the way from California. Glad to hear you were able to make it work. Hope you don’t mind me asking, have you faced any challenges up to date, (in particular with it being a less landlord friendly city)?

@Alex Bekeza

Thanks for the recommendation, will definitely reach out!

@Dinah Tabora Yup it’s been several years since I bought from them. So far my experience has been overall positive. There has been minor repairs here and there which is to be expected with any property, but I don’t believe I’ve had a single month where the cash flow was negative up to date. The team there has been extremely great to work with and their communication is top notch.