All Forum Posts by: David Fern

@Andrew C. is right. Some people are mentioning how they’ve been successful buying OOS site unseen.

BUT, let’s keep in mind that that was a totally different market ago where almost everybody succeeded (low rates, incredible appreciation etc.) Totally different market today, much harder.

Buying site unseen OOS is high risk/low return in 2025. Hard pass, no thanks.

@Diana Teng

Would you marry somebody you have never seen before? Or tell your best friend to do so?

I would never, ever buy out of state without visiting the property and area first. How much do you care about your money? I care enough to vet my investments.  Typically people who ask this question either a) have TONS of money and no time and can afford to take losses and risks OR 2) are pretty naïve to all the risk of long-distance OOS investing. So much can go wrong. Just research these forums. 

Here’s an example, I just took a trip across the country, and decided to visit some “popular“ OOS investment neighborhoods that are promoted here on BP. Boy was I shocked! Some of these were ROUGH looking places, yet agents were trying to sell them on BP as good investments. 

Just saying…

As a long-term hold investor, I see this property as -$600/mo to -$800/mo depending on whether you use a PM or not. This includes cap ex, repairs (will a renter leave the property in the same condition you hand it off in? Not likely), vacancy (@ 8% for me), and a possible PM (10% normally).

I recommend you reach out to a local seasoned investor and have them run your #s with you, as the #s depend on how you manage it (how hands on you are) and also local pricing. But that’s what it would be in my area. 

I also don’t like renting really nicely rehabbed properties, most renters don’t take care of properties as well as we would hope. I would consider selling, i’m not necessarily saying you should, BUT only hold if you have a very strong belief in the appreciation of this property. 

Also, I would only rent your friend if you think they are your best possible tenant. Don’t do any favors, this is your business, so treat it like a business. Good luck!

This was not a loan assumption as described in OP’s post. It is subject to. Very important detail.

Keep your 9-5 job to save money to purchase real estate. Live way below your means and save the majority of your income. House hack until you have kids. Work your 9 to 5 for several years and in your free time grow your real estate business on the side. The reality is most financially independent people went through a decade + of working 60-80 hours a week. A very small percentage do it an easier/softer way. If it was easy, everybody would’ve done it.

IMO sell. It’s closer to -$1,000/mo cashflow. Too much red, too much equity that could be used better. As has been mentioned, try to find a way to keep as your primary for 2 years, and all gains are tax free at the sale.

Many people in these forums would gladly switch places with you, no matter how much you hate your job. I would focus on one of two things… finding a more tolerable high-pay work situation OR developing some coping skills to deal with your current working situation. I’d hate to see you walk away from that high an income and regret it.

@Corby Goade nailed it. I agree 100% with what he said.