All Forum Posts by: Hadar Orkibi

Thanks for all the comments @Dean Letfus , I will put these areas on my grey list.

I'm planing to come over @Derrick Craig just getting my ducks in a row first. 

Hi team, 

I'm reading about Blighted properties and that it is a persistent problem for many Memphis neighborhoods.  Are their any specific neighborhoods/ or Zip-cods/ Streets that have the most vacant or derelict properties? 

It is also good to read that the local investor community is trying to improve this issue.

Feedback will be much appreciated,

Cheers.

Welcome to  BP Tamaria, 

You are in Memphis the cashflow city, I would suggest in simple terms going the local investors club networking with local investors and professionals, learning the market / area you want to invest in. Get your finance approved, set your buying rules and seek to buy deals that could be paid off by your tenant and cashflow over 10 years. (That doesn't mean to buy in crappy C class areas) 

Turn your dream of 3 mortgage free houses in to reality. 

Hi Nick Kia ora to BP.

I have a friend in LA who is a property investor that use to live in NZ.

Pm me if you want and i will hook you up with his contact details.

Cheers

It sounds like you paid full retail for the house, so if this is th case then the improvements are only cosmetics the value will not increase by much. one would expect it to increase by at list what you spent on it.  so yes, the appraiser sounds very conservative. 

In general you would aim to gain $3 for each $1 dollar you spend. So $30k equity gain would have been reasonable result for $10k spent.

Once I'm ready to buy I will visit the area so i can get a feel for it and put a face to the name of some of the professionals in the area. I would like to partly use my gut feeling before deciding who to work with. its  a long term buy and hold game for me in the US so wouldn't mined visiting when required. 

I would like to buy in bulk, say 5-6 doors at the time for starters but will talk about it near at the time @Dean Letfus. Cheers. 

HI Friends, I just thought to jump in and share with you that I also invest "Out of area" and have been for the last 10 years. I live in small town in Central Otago NZ (population of 4k) but invest in Auckland which is 3 hours away. 1 hour by car to the nearest airport followed by 2 hour flight. 

The key is to focus and network in the market you wish to target/ invest in. join the local REA. it took me around 3 month of hard work researching, monitoring sales and following new listings etc.to become somewhat an area expert. once you Know the values in the area and network with key players in the area it is much easier to invest out of state.

It is possible to invest from afar but one need to do the ground work first, travel to the area regularly form the relationships with fellow investors, professionals and realtors. "there is no free lunch" if you want to get a good deal and not mediocre deal. 

My point is, you invest where it makes sense and where it is convenient. 

Thanks @Douglas Skipworth, Interesting to hear that you purchased units in Memphis (MFH), so it can be done and probably worth doing. saying that, together wit few other Memphis based RE professionals on BP you have "unfair advantage" - which is fair enough, considering its your market.

No money down with owner's finance in good location at good price is no brainier.

Yes I also have this philosophy that you make your money when you buy and allays buy well so if you need to off load the asst you can sell it with small profit or no loss.

Thanks.

Thanks for sharing this @Douglas Skipworth it is interesting to see. 

when you mention that you personally added 100 more units, are they SFH in Memphis?

out of interest what level of returns are you aiming for? ie. Gross rent ratio to purchase price and discount bellow retail after rehab. ?  i.e in NZ I buy minimum 7% Gross yield and 15% added value opportunity or bellow retail. 

I would have thought been in the industry and local player you will have some good off market opportunities.

Thanks in advance for sharing.

Welcome to BP Ant, i suggest reading the NZ Property Investor magazine and joining your local Auckland Property Investors association.  APIA 

fee free to ask questions