All Forum Posts by: Daniel Petta

@Spencer Gray

Hello Spencer, could you elaborate on which markets you are looking at in Ohio? I'm interested in Dayton but not loving some of the marco economic trends I'm seeing for long term investment.

Thanks

Daniel

Thanks for this thread. Can folks suggest what data you look at for starting multi family out of state investors and we’re you get it. I’m targeting cash flow and strong cash rates for the long term.

Thanks Drew! Will reach out if I'm looking in your area. 

 Great advice Marc.  I've been reading about folks that stay in one market and thought that was limiting but at the same time there is definitely something in understanding your market to ensure returns and rent stability.  Sounds like I need to focus on my market analysis a bit more rather than just jumping into my zillow searches and models I've been pumping out!

@Ari Hadar @Uri Gofman is there a way to understand a neighborhood/city "grade"?  I'd assume that A is the best and C is the worst?  Is there a independent way of measuring or understanding locations with it comes to this?  It's an obvious factor with doing a long term investment like I'm interested in doing and I'd have to to assume that marketing will sell a grade higher than maybe it should be so curious how to have an opinion about this when you are an out of state investor.

Great advise Uri.  Working with local teams will be important and knowing that I can trust their judgement and city space that I just won't know as I don't live there.  I guess maybe this is why when out of state investors can stick to the same market and not bounce around with investments in different states, so that you cull and understanding of a market over time and have more knowledge over time.

Thanks Lane!

Curious as to the net worth comment.  From what I've seen in California the costs seem to be very high with small yields.  Maybe cause I'm just seeing Zillow or Loopnet data?  With prop 19 passing I'm not especially enthused with where California is going for investors that I'd hope be I've sort of given up hope as I'm seeing better returns on my models outside of California.

 Hey AJ, thanks for this.  I've been looking at Roofstock and definitely has been something I'd consider.  I'll private message you to understand as to what this process works and fees involved as I definitely have questions.

Hey everyone

first time posting on here and I want to say it's been great to read all the forms and appreciate how this is such a great form to get information.

I've been using my covid down time while working from home to focus on getting into passive income generating multi-family real estate investments. I live in California and it seems too rich and weak cash flows from my perspective so looking to break into out-of-state.

I have long-term aspirations to own these rental properties so seeking strong cap rates, cash flows and minimal appreciation. Seems to me biggest bang for my buck would be multifamily when it comes to cash flow and also think apartment complexes would be good but not for my first few deals.

I have stock investments that I want to transition out of and put into the strategy and currently am analysis paralysis mode for sure but thought I would ask some more questions. 

being that I'm going to look out of state curious if there's other people that have done this and if so do they regulate themselves to get economies of scale and only look to purchase properties in single market {period} I don't know how much economies a scale you get with a property management company but that to me seems to be the only scalable cost.  For me I kind of want to go where I know the deals are but at the same time I can appreciate knowing the lay of the land in these cities which I know is already in a challenge for an out of state investor. So would love to hear any kind of feedback you have for someone in my position when trying to determine first steps when it comes to market analysis. 

Also I've been skyring real estate apps such as zillow, redfin, loopnet to find deals but I guess since that many of the better deals would be found off market or through direct campaigns which I don't know where to start with seeing as that I've never bought a home and I'm out of state.  I tried to join local groups around my town but amidst the pandemic it's a challenge and I'm also not interested in investing around where I live at the moment so not sure how to break into an identify properties that are off listing services. 

Thanks everyone in advance for your feedback!

Daniel