All Forum Posts by: Jay M.

Hey Bo Kim I am located in Huntington Beach currently and am invested in Kansas City.  Shoot me a PM if you have any questions or want to chat RE.

Jay

Tom,

No, I haven't had time to go out there to look at it. I just went as far as talking with Jay from ABC. I will probably make it out there in the near future as I am very curious and I would also would like to see the neighborhoods out first hand.  Let us know his it goes that would be much appreciated!

Thanks,

Jay

Thanks @Jon Lafferty for the information on Philadelphia! I haven't had a chance to go out there due to scheduling reasons but now that I know that they are class C properties at best it will make me re-think that investment, especially for it being my first turnkey property. 

When I spoke with  Jay from ABC he mentioned that these properties were located in areas that were near blocks that were"up and coming".  I did do a census research online to see what the household income was and it was between 28k-35k as well as a google street view so I had a feeling that the neighborhoods would be a little rough. 

Thanks for the feedback @Jay Hinrichs and your foresight in property management turnover as well as liquidity of the asset if my PM is no longer in business.  Lots of food for thought.

Jay

Yes @Michael L. I too ran into the same "promoter" and I am currently doing my due diligence and will let you guys know what I find out.  I spoke with the guy over at ABC and he grew up in the area and he too reiterated how the neighborhoods can change from block to block.  His advice was to make a trip out to Philly to really see first hand what areas are "up and coming" and which ones were to avoid.  

Again..I'll let you know what what i find out.

Thanks for the input/review guys.  I was speaking with them about the rental guarantee and it is by a third party insurance company which I found unique but interesting being that I would be an absentee investor sounds like a good marketing tool for the investor that is just getting into turnkey. 

Looking at their returns in strictly in terms of cash-flow I'll have to say, was appealing. In terms of appreciation, I wasn't really looking for that as my main objective to investing in the Philly area so yes I do agree appreciation in these places will not be that much.

All the homes that are sold by them are priced post-rehab so I am aware that there is where they make their money.  And as far as out of state goes, I might as well be out of the country as well as I don't know anything about the Philly market about where to buy and not. So I thought why not ask the question from some of the BP users to see what their experiences are.

I was just looking to investing in good cash-flowing properties since I am out of state and it's hard to make the numbers work in southern California.