All Forum Posts by: Constance Kawa-Small

Thanks Theresa. The two markets I’m most familiar with are not in my price range (Hawaii and San Diego). Reason why I’m looking to tap into other markets. I’m new to BP and in baby steps to developing good networking and eventually my on-the-ground team :)

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@Caroline C.

Thanks for your input. Yes, I'm yet to develop a good network for my Real Estate endeavors. My current realtor is not quite working out as he doesn't have a whole lot of experience working with investors and no access to off market properties. So all I've been seeing are MLS options thus far .

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@Chris Levarek

Thanks for your reply. Here’s a fairly recent Forbes article stating Tampa is overpriced:

https://www.forbes.com/sites/ingowinzer/2019/07/12/where-to-invest-in-real-estate-in-2019/amp/

But yet, Mashvisor states the opposite:

https://www.mashvisor.com/blog/best-places-to-invest-in-real-estate-2019/

And that’s why I say I keep reading such a mixed of reviews in articles and blogs and am totally lost!

I’ve been looking in Tampa for two months, but my current realtor (which is my PM and that’s a whole other issue I’m having) is definitely not up to the game When it comes to working with investors as he does not have access to off market properties.

I’m new to BP and just now realizing the potential of true real estate investing and networking. I’m yet to expand my network in Tampa, if you have any referrals you’re willing to share - without giving away your gold mine - I would love to hear!

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@Robert Syfert inspiring read! Hope I’m not too late to start tapping into the Detroit market. Do you have any turn keys available? Let’s chat more!

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@Alex K. Thanks for your input!

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Originally posted by @Travis Biziorek:

Hey Marisa, as you know I've been relatively active in Detroit since about May. We've picked up 4 properties totaling 5 units (just one duplex). We have an accepted offer out on our fifth property right now, but I haven't walked it yet so we'll see if it pans out.

I'm self-managing so I don't have the issues most experience with PM's here. If you're considering investing in Detroit and not planning to self manage, understand this market is extremely complex and difficult. While home prices are cheap, rents are too. This makes it difficult for PM's to scale their business.

Consider a market where average rents are $1,500/mo compared to maybe $750/mo in Detroit (not meant to be accurate, just showing an example). A Detroit PM needs 2x more homes under management than that other market just do have the same gross rents coming through. That means at least 2x more headaches, service requests, etc. More employees, more overhead, etc. And in Detroit it's likely more than 2x because the homes are older, tenants are of poorer quality, yada yada.

I've had success overall, but it's because I'm extremely picky about what I buy. I'm not interested in buying homes for $10,000-$20,000 and doing the required rehab. There are too many unknowns, and I really don't have the time for it. I'm more attracted to the homes in the $40,000-$60,000 range that needs little work and are in locations I believe will see solid appreciation in the coming years.

It's working well so far, but it's also admittedly early in my journey.

Thanks for sharing your experience thus far. I’m considering tapping into Detroit market but keep reading mixed reviews. I’m a newbie and also have in mind the same $ range and condition you are focusing on. Being out of state, I have no clue of the good areas to invest. Which do you suggest I keep my eyes on? And not to ask you to reveal your mine of gold, but what’s your approach to finding off-market $40K-$60K with minimal repairs?

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Detroit, Michigan

Thanks @David Simovski!

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Hello BP Community!

A bit about me:

I’m a newbie rental investor.

I’m a resilient military spouse.

I’m a learning mother of two.

I’m a believer in a better world and people’s kindness.

I’m one to pay-it-forward and grow within.

I’m a hardworking dreamer planning on achieving financial independence through real estate.

Real Estate experience: 1 rental unit in Greater Tampa, 1 primary residence with good equity recently sold in San Diego, CA.

Targeting: move in ready or minor fixes SFH, condos, townhomes or duplexes for rental cash flow. BRRRR.

Market: here’s my big question mark! Definitely not in Hawaii, where I currently live. So I am trying to narrow to a good real estate market with solid rental cash on cash return.

Although I have a rental in greater Tampa area (Riverview) with a realtor and a PM, I keep reading that Tampa might not be the best to invest (as date of this post, 2019). I keep reading articles and forums and blogs with such a mix of information, I’m lost!

WHICH MARKETS do you have experience on that still have affordable properties but good rental prospects and equity growth?

Detroit?

Atlanta?

Thanks in advance for reading and commenting!

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All Forum Posts by: Constance Kawa-Small

Constance Kawa-Small has started 4 posts and replied 59 times.

Post: New to BP, $150K to invest, which market to hit??

Post: New to BP, $150K to invest, which market to hit??

Post: New to BP, $150K to invest, which market to hit??

Post: New to BP, $150K to invest, which market to hit??

Post: Investing in Detroit!

Post: New to BP, $150K to invest, which market to hit??

Post: Anyone Successfully invesing in Detroit

Post: New to BP, $150K to invest, which market to hit??

Post: New to BP, $150K to invest, which market to hit??