All Forum Posts by: Courtney M.

Great story! It's good to see you weren't discouraged and moved on to the next opportunity! 

No. Temecula is a good Airbnb market but it's more expensive. 

 THIIIIIIIIIIIIIIIIS. I cannot stress this enough as a long-distance real estate investor the key to enjoying real estate and not getting burned out is a solid team. Especially if you have a full-time job! Even if I was a few blocks away from my rental, I'd have a PM. I need to focus my energy on making more from my job and building relationships with realtors, PMs, and other members that will help me be successful. 

Hi Teri, that makes sense. Thank you!

I would check on Zillow for comparable properties. And frankly I wouldn't listen to your realtor if they don't have experience with rentals. A property manager is going to be a better source for accurate information.

I have a private money partner I'm using for some deals. I was reading in J Scott's Flipping book that you have to have all the funds in your name when making an offer or it's not really considered a "cash offer."

Is this true? My assumption was that I could provide proof of funds from my account and my private money partner's account. 

I'm just wondering how others handle this if you're using private money. Like I could put in offers on several houses before they are accepted. My assumption was that the private money lender would provide the money at closing (it's a family member of mine) but it actually sounds like I need to get the cash in my name first.

Hey @Mike Sullivan, a good broker is going to be key here. I grew up in Michigan and don't invest in Detroit. I invest in the suburbs (Livonia, Westland, Redford, etc) and even in those areas it's really block-by-block. My suggestion is to find a broker AND a property manager now and have them give you their opinion on properties. When my PM tells me he won't manage in a certain area, I listen to him.

@Stephanie P., thanks! That was great info. Ouch to the CA LLC fees, but I guess it is what it is.

@Nicholas Middleton, I work with @Keith Jourdan, he's an investor broker and PM in the Livonia/Westland/Redford area. I'll shoot you a message with his info!

Hey @Johnny Crane - have you considered adding a property manager? It sounds like you're pretty busy with your day job. I invest in SE Michigan from out of state and while I understand you're local, it has been worth it to me to not have to deal with my property on a monthly basis and just get a transfer once a month. My PM did my tenant screening and there has been no issues, and they just renewed their lease for a year. Just some food for thought!