All Forum Posts by: Chase Webster

I've been receiving emails from Holton-Wise for the past few weeks, and it seems like there are some pretty good deals that may cash flow around 2-300 bucks per month with decent cap rates (10-12%). Couple questions though.

1) I am seeing properties that cost around $60K that will produce gross rental income of $1-1.4K per month. Is this realistic or are these inflated rents? Would this indicate a property needing a lot of rehab or cap ex? Generally, are these prices/rents in decent neighborhoods?

2) Is Holton-Wise actually a decent property management company or not? I looked at their BBB rating and it is not great. Are they just a turn-key scam company? If not, I see they will do some rehab. Does anyone know how this works? Would they be a good option for an out of town investor? Do you know what percentage they charge? Any other property management companies you would recommend? Same questions as above for other companies. I am looking to build a team in Cleveland (I'm out of town).

3) What is the biggest pitfall in Cleveland? 

4) What areas should I avoid?

5) Are there any specific locations I should look in? Great streets / neighborhoods?

I appreciate the help? Hopefully I'll be able to network with some of you moving forward.

Do you know if there are plans yet in place to build professional type apartments in twin? What is the demographic of the workers at the new factories. My mom actually works for chobani and says there are engineers on three month wait lists for rentals. Any opportunity to be had in building new?

Does anyone have a pulse of the rental market in Twin Falls, ID?

Hello. My name is Chase, and I have set a deadline for myself to have at least one rental property by the end of next year. I have been thinking of starting with a duplex or two, but I also have some interested investors through which I could probably amass somewhere between 80-100K to start out. Should I stick to a few small multi-family units to start, or should I go for something a little bigger. I personally am trying to do this on the side of a career. If you had 80-100K what would you do with it?

On another note, I have also thought of trying to build in an area that is starved for rentals. People are literally on waiting lists for apartments. There is no professional rental housing in the area that is available. The area is traditionally rural, but has brought in two major companies in the last few years and is quickly outgrowing its available rental housing. Is building a viable option for a first time investor? Any tips on getting started or resources I could look at?

Lastly, I am looking for some good analysis software or prewritten Excel calculator. I can see a ton on the web, but don't know if there is something that generally stands out in the real estate community as a cut above. 

Thanks for your time! I look forward to interacting with all of you here on BP!

-Chase

My wife and I are just a few steps away from renting our home.  We are buying a new house in Omaha and then will rent our current house.  We plan on trying our hand at the landlord thing for the time being.