All Forum Posts by: Jonathan Cope

The US Census and HUD POMS report turns out to be interesting if dated.

http://www.census.gov/housing/poms/publications/st...

The Census survey linked above offers much of the base data and related publications. 

A survey today would likely identify a meaningful population of folks forced into renting property as they move to find work following job loss. 

Jon Strishak Your reply is spot on. As I read your thoughts, I was strongly reminded of the excellence of Think and Grow Rich. Admittedly, my post comes from the perspective of someone who has committed to be involved with real estate life long and base a meaningful amount of my current and future net worth on property investment. I find the podcasts to be a terrific and motivating platform. Strong thanks to Joshua Dorkin and Brandon Turner for the content and site culture. I am using the podcast content to learn, stay motivated, identify opportunity and beyond. Am curious how others, specifically those that have already achieved what you note as essential, are leveraging the podcasts to take action? Are you finding that they motivate you to take action? Again, I find your thoughts are spot on. Thank you, Jonathan

Hello BP Nation: I am looking for an excellent property manager, new or tenured, in Knoxville, TN, for a small multi-family (5-units) I am considering to purchase. As I have shared recently, I am beginning to transition from Buy and Hold SFRs to Multi-Families. In the past few years, I have gained experience managing rentals from afar in a New Jersey market I know quite well. However, I am now facing a new challenge. Specifically, I am considering the purchase of a 5-unit property in Knoxville, TN, a market with which I am less familiar. I would be interested to learn from Knoxville, TN members of BP Nation who your favorite property managers are. Know a great property manager in Knoxville? Please consider sending me a referral. I am an experienced investor and enjoy working with excellent local talent. Am open to working with young talent if they have talent and are looking to build a business. Thank you in advance, Jonathan

Question:

How do you take action based on the Podcast Shows you've enjoyed?

Why I Ask:

Tonight, I am listening to Podcast Show 21. 

During my commute, I enjoyed Podcast Show 22. 

In the past few weeks, I have listened from Podcast 88 to 21. 

A tremendous education and great entertainment. 

With only a few weeks of listening remaining in my first pass through the Podcast Shows, I have begun to ask myself what I'll do with my time when I am finished?

The short answer is take action. 

Specifically, I'll be: 

A) 

Engaging with BiggerPockets actively to learn and share what I have learned in the past 15 years of investing. 

B )

Starting conversations with select Podcast Show guests. 

C) 

Hosting a regular brown bag lunch at work with select colleague investors to discuss what we've learned from the most recent Podcast Show. 

D)

Finalizing my 2015 Q1/Q2 investment plan to transition from SFR to Multi-Family buy and hold.

E)

Reading one Podcast Show recommended Real Estate or Business book per month. 

Question:

How do you take action based on the Podcast Shows you've enjoyed?

US Census data from the middle 1990s seem roughly to support the book's suggestion. 

https://www.census.gov/prod/1/statbrief/sb96_01.pd...

The Census POMS report findings would have to be twisted some to make the statement, however. 

Good evening, Matt

I recently came across an article related to your question in the NY Times (link below). 

The article concerns NJ 55+ modifications as approved by then governor Jon Corzine. 

Some of the developers noted in the article might be sources for you. 

http://nyti.ms/IMBR4K

Hello BP,

Thank you for your rich community and member content. 

I have been casually reading BP for years, however, with the advent of the podcasts, which I greatly enjoy, I have opted to invest more time daily reading blog posts, PDFs, and member content. 

What a terrific place BP is. 

Josh and Brandon both make the platform a rich one for the entire community. 

I have been active in real estate since 2000 both as an investor and professionally. 

My wife and I buy and hold primarily. 

We have rehabbed two units of which we flipped one to pay for our wedding. 

We began investing with a 1 bedroom condo in Hoboken, NJ, using a cash advance and an FHA loan requiring a 3% down payment in 2000.

We've had good fortune with our units to date. 

We add units slowly in New Jersey's A markets. 

We self manage with assistance from a great team of vendors. 

Our investment progress was slowed recently due to a three year overseas professional assignment. 

We successfully managed our properties from London by partnering with our tenants and vendors both; even through Hurricane Sandy. 

Having returned to the US, we are now looking to expand our investment efforts. 

We'll primarily continue to focus on A markets but will likely also begin to explore multi-unit investing in the Midwest and South. 

We may also explore select B and C markets if A market appreciation looks less likely in the mid-term. 

Thank you again for BP. 

It is no wonder that it is celebrating 10 years of success. 

I look forward to being a more active member and reading my way through Brandon's most recent book publication. 

Please let me know should you have questions about investing, finding good talent, working in New Jersey, or anything else that you think I might be able to assist with. 

Best regards,

Jonathan Cope

David,

That sounds like quite the process and day. 

Do you outsource any portion of the pre-work?

How did you approach the cashier check process?

That seems rather awkward in our digital age.

Don't be surprised if the Van Tuyl Group comes looking for your dealership now that they are so well capitalized by Berkshire Hathaway.

No doubt one of the BRK companies could benefit from your abattoir as well.

I hesistate to ask whether you operate it. But do you?

Thank you in advance,

Jonathan

Jon,

Thank you for posting this article. 

I am researching Texan communities and found this content quite helpful.

Much appreciated.

Beyond Safewise, are there other resources you would suggest consulting for someone looking to know more about Texan communities?

Thank you in advance.

Chris,

Congratulations on the new home purchase and your consideration of real estate investing.

Consider listening to podcast 78 as a benchmark for entering investment as you are.

@Brie Schmidt discusses how budgeting could assist you with your $10k effort.

Consider reviewing craigslist for your area as a resource to confirm available area rents, as does @Michele Bruce per her podcast.

We don't give away fee to PMs for tenant sourcing or screening.

You'll need a relationship with your tenant and it should begin before you agree to have them rent your place.

Landlord work early in an investing career tends not to be an arms length effort.

Be wary of trying to make it so for any stage.

Yours is likely not really a question as to what to do with the equity you have in the home but more as to whether you want to be a landlord and whether your market is tenant rich.

Good luck.