All Forum Posts by: Evan Liu

@Account Closed I'm willing to consider any market in the U.S., including the Southwest. I was briefly considered Tuscon and Phoenix, but the CAP rates in those cities didn't seem as high as some other cities in the midwest and I didn't see many properties on the MLS that were close to the 1% rule. Do you have any areas within Phoenix that you would recommend?

@Ali Boone - I haven't seen many A-class areas offer cashflow with a reasonable return, so I would probably focus more on B/B+ class neighborhoods. With this being my first property, I probably wouldn't want to do a full gut rehab, but I'm not opposed to some light rehab (e.g. < 1 month of work). I would prefer more passive investments over hustling to maximize returns.

How do you all feel about using the same person as both your real estate agent as well as your property manager when investing out of state? Assuming the agent is also a professional property manager, I can see a lot of benefits in using the same agent as a property manager, but I'm concerned it could be a mess if things go wrong without other boots on the ground. Has anyone used the same person as their agent and property manager and what was your experience like?

@Michael Haas - Ah yes, I was thinking of the WSHFC. I assume those assistance programs require owner occupancy, and I'm not looking to relocate at this time. I currently live on the Eastside where even the cheapest SFHs sell for over $700K and many condos have HOA fees of $400-600/mo. If there's anyway to achieve positive cashflow with a reasonable rate of return in the Bellevue/Kirkland/Redmond area without housemates, I'm all ears!

@Corby Goade - That's interesting--I didn't know Boise was a strong market to invest in real estate! What kinds of return are you seeing and in which areas of the city? Also, may I ask what made you choose Boise? The proximity to Seattle definitely sounds appealing, but if I have to hop on a plane to visit anyways it might not be such a huge benefit over investing in the Midwest.

@Michael Haas I do not own my primary residence and unfortunately I don’t qualify for any assistance programs. What kind of rates of returns have you been seeing and for which parts of Seattle? I would love to be able to house hack in a multi family, but it doesn’t look like the numbers work out around here and I’m not looking to get roommates.

@James Wise Thank you! Glad to see you’re upholding your reputation of being “the most prolific welcomer”. Your guide has been very helpful in navigating the neighborhoods of Cleveland!

@Caleb Brown It does look like Kansas City would better fit my investment objectives. Do you have any recommendations for neighborhoods or property managers in KC?

@Mike D'Arrigo I would prefer to invest in A or B class neighborhoods with a monthly rental income of at least $1K. I’m willing to sacrifice potential returns in exchange for higher quality tenants. I’ve been looking at the outskirts of Indianapolis and Kansas City in the areas with lower crime stats and better school ratings, but I’ve never been to either city and would appreciate any insight into which areas or other factors to look into.

@Mike D'Arrigo - Thanks for your insight! I included St. Louis in my search as it is the only city in the midwest I have ties to, having lived there for four years, but I'm concerned about the declining population and high crime rate. I've seen Indianapolis and Kansas City consistently top the rankings for best cities to invest in for several years now. Are there any higher class neighborhoods you would recommend checking out in those cities?