All Forum Posts by: Dena Zeman

@Dan Riley

well... given all the constraints you posted, unless something changes or you change something, your options are limited.

it looks like you posted 3 years ago asking about turnkey properties.  with limited time, and you believing / saying you "can't" invest locally... that might be your primary option.  but... with prices and rates the way they are, I would strongly caution you.

say you use the available capital you have to buy a turnkey in the midwest, and you find a great team and great tenants, and you net $200-300 a month.  so what?  at that point you're done until you save up enough for your next one, right?

i know this is heresy on a real estate forum, but... with $70K, you can earn $3500 a year nearly risk free in a savings account.  it's not clear to me, given your current life situation, that buying a property thousands of miles away just to net less than that makes a ton of sense. there are plenty of threads on BP, if you look for them, about people who bought that wonderful midwest property only to get immediately crushed by Capex. yes, the risk of this happening is way less with a reputable turnkey provider, but it's never 0.

if you had more time and didn't have a newborn. i'd give different advice =)

feel free to respond here or DM me if you want to discuss more.  i know this isn't what you want to hear.  it's just a tough market right now.

If you are a beginner for investing in real estate and have questions feel free to connect with me on BP.  As I can remember when I first started it was helpful to connect with other people who understood where I was starting. 

Syndication or Joint Venture. Syndication is a GP/LP structure. Joint Venture is when all investors are actively involved in the deal and equity ownership is tied pro-rata to the $ amount invested. 

Start with a Property Management Company that does NOT sell Turnkey rentals. 

Everyone is transaction based except a PMC.

I own 20 doors in Jamestown. Great cash flow. Neutral/ slightly negative appreciation. Can run into some rough tenants. Plenty of cheap inventory. One of the few markets in the country where you can buy a quad for 50k and rent each unit for $600. blows the "1% and 2% rules" out of the water. Good place to cut your teeth I think as a beginner. You'll learn a ton and cash flow... probably. haha

I purchased a 22 unit in Jamestown a few months back. The numbers on paper looked great and the area seemed to be revitalizing pre covid. I have had trouble with my property manager and am seeing a new one. @Annie Johnson and her husband were kind enough to recommend one. 

I think if we form a group of OOS investors and all use the same team we will find success. We need to band together to make these deals more profitable. There can be great success as @Jessica Smith said. We just have to formulate a strong investment group and pool resources. 

Property management is the biggest piece IMO.

We invest near Jamestown. My husband grew up in Gerry, NY, and knows what areas to avoid and the areas that are desirable to live in. Message me. Id love to talk more :-)

I just moved back here after a decade in Raleigh so I'm only an observer and researcher at this point. I know people are doing it and some successfully but I don't know if the conditions here make sense for me to invest personally... yet. Hoping things change🤞🏼I am involved in the community here and know first-hand the money and resources being thrown at minority-owned businesses from large local corporations as well as local community foundations.  The spotlight is on the Riverwalk make-over and the downtown revitalization... good things are coming!