All Forum Posts by: Chris Isaacson

Thank you Joe, those are good numbers and I am glad those areas work for you. I personally do not like those areas and they are not on my radar. I used to go to school in that area, lived there for a short while, but the area is not what I would consider safe to say the least. This is my personal opinion of course and others may differ.

@Joe Bertolino I am interested to hear where you buy and what your returns are? I can't speak for the other cities cited but as far as Memphis I would have to argue that your return probably does not compare, at least in cash flow. I am not saying it can't be done and you may have nice cashflowing properties that don't require police escort to look at I am just saying... probably not, unless you picked them up 09-12.

I feel like people are under the impression that I think there is no money to be made here, which I know is not the case. I do very well by my clients and they are happy, but most will not see a return until they sell.

@Sam Van Horebeek

Interesting, a few years back in Sacramento we had a bunch of Chinese investors buying up bank foreclosures by the bundle. I remember it stood out because a friend of my father's (who are both agents) ended up selling like a hundred properties in a month to one client, can't remember exactly how many but it was a good month for him.

Is Zillow accurate anywhere?

@Alex Craig I am glad to hear your thoughts on the Memphis market, we have contemplated moving out there and still do. I saw your profile and Collierville is where my father in law was living for a while before he sold his company and moved back out here, he missed paying taxes I guess.

@Logan Turner It's great to hear a former locals perspective, Roseville prices are crazy and I do think moving will allow us to accelerate our investments and passive income. I am not against investing out of state but we would like to move anyway so I am trying to create a win-win.

@Kevin Yoo I agree just moving somewhere does not make us good RE investors. Full disclosure there is an ulterior motive to leaving, my wife and I grew up here and when I got out of the Army we were searching for a place to call home. At that time we could not decide on a place to move so we chose to go back home as a staging ground. I got involved in RE when we came back and was a "top producer" since yr 1. I feel I can recreate this anywhere but the longer we stay here the more I feel the roots growing as we have two boys (another on the way) and they are getting near school age.

My wife and I never envisioned raising our family here and when we visit these other areas we see it as not only a new adventure but a more condusive place to raise our family the way we want too.

With all that said I am not against out of state investing but if we are looking for a new place to live as well than might as well look in the markets I would be investing in if we were to stay here.

My Brother in Law lives in Memphis so we go out there as often as we can, I am constantly shocked at the crazy deals. I will forward your info on to him as I am always pressing him to invest but I feel like he is waiting too long and will be late to the party.

@Jerry Padilla I do understand property taxes can kill margins and that is why we began to remove certain areas off of our list. I know CA and 1% property tax sounds alright but there are ways they go around  prop 13 to ensure they get their money, one of them is Mello Roos. We have a city here called Lincoln (once the fastest growing city in the nation) that is notorious for MR, it tacks on close to $300 in some areas where the home prices average $300k.