All Forum Posts by: David Morrow

@brian Mathews - I am just beginning learning to do market analysis, so I can't answer that question very well. What i see is a market with affordable entry points, military and college student presence, and appreciation in 4.5-7.5% in the few neighborhoods I've looked at.

I'm hoping to get a snapshot of affordable props from a local pro as a jumping off point for more research.

I'm spending a few months in Corpus Christi and would love to do some shopping while I'm here.

If anyone is or knows a good agent, please shoot me some info

Thanks for your input, Annette!
I have taken a few stabs in the dark at seller financing and so far come up empty every time. Whenever I've singled out a property for further research I always ask my agent to ask the seller agent to ask the seller if seller financing is an option. Obviously, this arrangement doesn't allow me sell the high points and benefits of seller financing, so my inquiries have consistently returned a flat "no".
In your experience, is there a better way to ask? Is there a type of seller or property who tends to be more interested in this arrangement?

@tom goans - Laws are a hang up for me because I do not expect to make many more purchases in Illinois and don't know where I'll be investing next. Is there much GENERAL education one can acquire on laws without being state-specific.
Also, since my vagabond status necessitates that I am an absentee owner, I would think the laws pertaining to tenants and advertising would be the domain of my PM. Am I wrong about that?

HELLO, BIGGER POCKETS! Please allow me a moment to talk about. . . Me.

I've recently purchased my first property, a residential 4-plex, in Springfield, IL, and I hope to expand my budding portfolio as aggressively as my circumstances allow for the next several years.

My job is all travel and I'm still single and unencumbered, so I do not maintain a home of my own. As you can imagine, that means I have very little overhead and am therefore free to invest a significant majority of my earned income. I've quickly grown tired of my rootless existence and long for the day when cashflow from my my portfolio will at least sustain the portfolio's growth, or at best replace enough of my income so I can trade this job for something less lucrative but more stationary.

I've chosen to invest in Springfield for two reasons:
1) it's cheap. This is important because I'm currently utilizing traditional financing, and am therefore hindered by the time it takes to save for each 25% down payment.
2) I have a realtor there whom I know and trust on a personal level. She is inexperienced with investment properties, but I nonetheless chose to trust her over trusting someone of whom I no prior knowledge.

For these reasons, I will continue to buy in Springfield until:
1) the market of viable multi-families is tapped out (which shouldn't take long), or
2) I learn enough to feel confident investing in other markets with the help of other professionals.

I am very interested in hearing what advice you have to offer to a noob in my situation, getting recommendations of quality turn-key services providers in other markets, and in connecting with other people who can help me in Illinois (a finance person comes to mind first).

Thanks, BP! I'm looking forward to your responses.