All Forum Posts by: Harish Maiya

Hi, I'm in contract for a 4-unit property in Raleigh, NC. Looking for a lender recommendation who covers this area.

Started to get some proposals for 75%, and 80% LTVs. Looking for competing rates with lower origination costs.

Appreciate your referral. Thank you!

Adding on - I'm looking into multi-family deals in Cincinnati.

Appreciate referrals to brokers and property managers for off-the-market listings.

@Remington Lyman I'd love to get referrals to property managers as well.

thank you!

@Sam Shueh yes if i plan to go that far (Sacramento/Monterey) from Silicon valley, i would need property managers; no much (local) leverage. At this point California markets have already seen way much appreciation so buying for upswing would be mere speculation. Average growth of Income increase vs house price shows huge difference (sign of bubble)

There are many U.S. cities with solid fundamentals (population growth, employment, strong local economy) where I can see potential (still below peaks from 2008s) and decent cash flow/cap rates. 

Unless it is primary residence i would not advise to buy property in SF bay area.

I did realize, got priced out of San Leandro for buying in this spring season. It does not quite look lucrative to invest in bay area i think.
JustGot into a contract for a multi unit property out of state.

Good to hear that! Its getting a little competitive over in San Leandro now. 

Thank you, Tracy. 

Great thoughts and inputs in this thread! I am first time investor (own primary residence) looking for appreciation properties in SFR/multi units in range of 600K.

My research, findings so far.

Cities shortlisted Atlanta and Orlando: fits the bill for most of investment parameters. Close contender CA cities: Oakland, San Leandro, Richmond.

Turnkey solutions: Roofstock has pretty decent in service, limited listings/properties. Still i think i need to get little hands on (with full time job) vetting many players in the process. Homeunion - no real/positive reviews

Crowdfunding: Realtyshares, Fundrise, Hines - decent short/mid term returns. no leverage on low mortgage rates or tax benefits.

Syndicate/LLCs: Risky for first time investor to find honest partners. Only referrals.

As great investor once said, profit is made at time of your purchase, i do see that forming a great team and execution is vital for out state properties. 

Would be great if I can get good referrals @Jon Q. for PMs (start my team from there), realtors and be able to provide input on my research.

@Shashank R. would like to know about your progress, were you able to shortlist cities/areas, finalize on properties.

Any inputs, quality referrals welcome.

Hi BP folks,

Currently considering to purchase a SFR in San Leandro, for my budget of 600K (20% down mortgage finance). My initial study showed fair appreciation and healthy rental proposition. Low crime rates, decent demographics and commute accessibility. I preferred this area since its drivable (no need of property manager), and no HOAs (like condos/townhomes) to hurt cap rates.

Visited couple of houses in Bonaire/Bal they are 1940/50s built and market looks warm.

Before pulling the trigger, would like to get inputs from the community on few points

1. Potential of area San Leandro. I considered Oakland (pricey), Richmond (safety) they didn't fit my bill.

2. Does investing out of state makes sense, (with property manager etc). I feel bay area/CA is at its peak, Atlanta/Orlando seems reasonable,  but I know little about areas there.

Please share your thoughts. 

Howdy BP folks

First time investor, I am looking for a rental SFH/townhomes for mid/long term buy & hold with decent appreciation and cash flow.

Preference is to Silicon valley where i live, but considering over heated market here, think investing nearby may not be possible for my budget (about $450K)

However there are few areas like Richmond, Stockton/Tracy in this price point, but not much upsides there. Further east Sacramento, Reno is not cheap either.

Searching for options outside CA (via roofstock) 

Atlanta - Up & coming, tech presence & University 

Jacksonville/Orlando - good inflow of millennials, vacation crowd 

Dallas/San Antonio/Houston - up & coming, tech presence, but high property rates.

I need inputs on few points.

1. Inside or Outside Silicon valley? And Selection of places 

2. Remote property managers. Trust and can I breakeven/profit from the setup? (Roofstock has some help here)

3. Am i better of investing through realtyshares/fundrise or even S&P? My plan to leverage on lower mortgage rates.

Please share your thoughts.