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All Forum Posts by: Chris Jones

Chris Jones has started 7 posts and replied 9 times.

Post: Multifamily Opportunities in Savannah?

Chris JonesPosted
  • Walnut, CA
  • Posts 9
  • Votes 4

I'm thinking of buying a fourplex in Savannah, GA, and I have a few questions about the market.  Does anyone know if the area is oversaturated with rentals?  Does it look like rents will flatline or drop in the next few years?  Are cap rates of 7-8% on a four unit building realistic?

Post: Remote Self Storage Management?

Chris JonesPosted
  • Walnut, CA
  • Posts 9
  • Votes 4

One of my rental properties has appreciated significantly in value, and I am considering selling it and buying a small self storage facility.  Based on my own research, it looks like there is great software for remote management of self storage, but I will need some type of on-site support as well.  For my rentals, which are all out of state, I rely on a property manager.  Are there similar services for self storage units?  I really want to avoid directly hiring someone, so that I do not have to deal with all of the paperwork that comes with having employees (i.e. payroll, benefits, etc.)  Can self storage truly be a passive income source like a rental property? 

Post: Property Manager in Warner Robins, GA

Chris JonesPosted
  • Walnut, CA
  • Posts 9
  • Votes 4

I am looking for a property manager in Warner Robins, Georgia.  Does anyone have a company that they would recommend?

Post: Impossible to Buy a Rental

Chris JonesPosted
  • Walnut, CA
  • Posts 9
  • Votes 4

I have been looking in middle Georgia.  The homes there are newer and have good cash flow, if I could actually buy one.  I would be interested in learning more about the KC market and talking to an agent.

Post: Impossible to Buy a Rental

Chris JonesPosted
  • Walnut, CA
  • Posts 9
  • Votes 4

Is anyone else struggling to find good deals in this current housing market?  I have 3 rental houses and am looking to buy 4-5 more in the next few months. Even offering list price with an escalation clause, I have lost out on many properties, in many cases to all-cash buyers. I am sure my situation is not unique.  Are there any markets I may be overlooking? I am open to investing anywhere in the US, but I prefer turnkey, single-family homes in the 100-200k range. 

Post: Investing Birmingham vs. Huntsville

Chris JonesPosted
  • Walnut, CA
  • Posts 9
  • Votes 4

I am looking to purchase a few single-family homes in Alabama, and I am interested in learning more about the difference between Huntsville and Birmingham.  Huntsville definitely seems to have a dynamic, knowledge-based economy that is attracting lots of young professionals, but it has pushed the property values up significantly.  Is there still money to be made in Huntsville with turnkey rentals?  Is the general opinion that appreciation will continue?  Is Birmingham on track to be come the next Huntsville in terms of job growth and appreciation, or will it not see the same type of growth?  Is Birmingham a good place currently for turnkey rentals?

Post: Rental Portfolio Question

Chris JonesPosted
  • Walnut, CA
  • Posts 9
  • Votes 4

I grew up in South Carolina and knew that the south east had some great deals on houses.  I don't want to buy in CA right  now because the house prices are very high compared to rental income and the laws are biased against landlords.  Also, I'm expecting a pretty large correction in Socal pretty soon due to our market being propped up largely on foreign money.

Post: Rental Portfolio Question

Chris JonesPosted
  • Walnut, CA
  • Posts 9
  • Votes 4

I recently closed on my second single family home in Winston Salem, NC.  My strategy is to buy and hold single family homes in areas that produce good rental income and have significant potential for appreciation.  I currently saving for my third house, but I am unsure  if I should buy a third property in Winston Salem or branch out to surrounding towns like Charlotte, High Point, or Greensboro.  Maybe I have too much exposure to a small market?  Any advice is appreciated!

Post: Has Anyone Used Roofstock?

Chris JonesPosted
  • Walnut, CA
  • Posts 9
  • Votes 4

I am planning to buy my first investment property this year, and I found a website called RoofStock, which provides an all-in-one platform to buy rental properties.  They also connect users with lenders, property managers, and most of the homes offered on this site already have tenants.  Their representatives told me, though, that most users purchase rental properties without ever visiting their actual location first.  This statement seems like a pretty big red flag for me.  Is this website legit or a scam?  I think it would be really difficult for me to pay so much money to buy something sight unseen.  Thanks for the advice!