All Forum Posts by: Dani Beit-Or

@Karen DiNapoli William Larsen

I have been living in CA for more than 13 years. 

I have been investing in and out of different markets based on how the local market was preforming. In PHX/Orlando 2004 and out in 2006 again in 2010 and out in 2012.

Theses days I'm very active in OKC, Tampa, Dallas, Houston, and Nashville. 

Only go after good areas, C+ to A+ schools. 

$45k + a mortgage can buy you $150k+ house in these markets and rent will not only cover the debt + overhead but you will leave you a small 200-300 in cashflow on average (after ALL expenses: vacancy, repairs, mortgage, property taxes, insurance , property manag., etc. )

While PHX is truly a great area my personal take is that there are other markets, these days, that will provide you w/ higher/better returns. PHX ain't bad but can you do better? ans would you invest in PHX if you did not have that friend telling you. 

Food for thoughts

Why note live in LA and invest remotely? 

I used to live in Tel Aviv, SF Bay and now in OC CA.

As far back as Tel Aviv I bought rentals I  multiple states but wants to live in California,  at least for now.

To date I flipped about 100 houses in multiple parts of the country, all remotley.

I'd say live where you want to live and invest where the numbers makes sense,  Denver or other.

Purely based on the #s this looks like a good deal. 

I cannot comment on the area, the condition, the tenant's quality, etc. as there's no info about it.

So it is really a good deal is based on the numbers as well as other factors. 

Is it a good deal for you is what you should be asking. 

Can you get better return assuming similar risks elsewhere - that's your benchmark. 

Hi Tzook (Ahalan), 

Opening a US bank w/o stepping into a branch is currently not possible to do (terror and money laundering are the reason).

If you plan to visit the US than you can go into a branch and do so. 

You may be able to use your paypal.

Many times bank is not a MUST have but a nice to have when it comes to investing - but may vary based on your needs. 

If you have a relative who's willing to open you an account under his name it would be a possibility. 

Years back in my early investments days I used to analyze rentals as "worst case scenario" - I have a cemetery full of good deals.

Only after a while I started using the "realistic case scenario" and started using an excellent excel to reflect that mindset.

Josh,

The way we structure it is as follows:

Do 2-3 flips a year (or more - depending on your budget) and use the proceeds from those flips to buy a rental.

For me BRRRR is a modification or a spin on the idea.

The benefit of BRRRR would be lower tax consequences than a flip.

The disadvantage MAY be that lenders sometimes are giving some hard time on how soon after the purchase you can refi and get money out, or more specifically what refi value a lender will agree to use - talk toy our lender more carefully about it. 

What I have established for myself and my investors is:
1. Short term engine (flips) to generate cash to by more rentals. 

2. Long term engine (rentals) 

2.1. Some low-end rentals w/ strong cashflow to offset the low CF of the mid-range rentals. 

Tampa is HOT and if I was you I'd move as fast as I can. 

BTW, so far just in Tampa in 2016 we did about 20 rentals and 25 flips.

Tampa is only one of our markets.

Don't let the $7k loss scare you - learn from it!

Good luck,

A. see what @waynebrooks wrote

B. You can go online and search closing cost calculator [county] Florida (sat Miami-Dade).

This way you can have a good estimate what the closing cost would be based on the county and buy/sell price.

BTW, FL has a sate transfer fee (i think that's the docs stamps above) that makes the closing cost a bit more expensive in FL vs. other states.

Dani

Hi, 

Obviously your best source would be w/ and attorney (and not a forum).

From my experience if you set up an entity in State A and buy a property in State B you will still need to reg. the entity in State B so you end up w/ double spending + possibly another tax return. 

So if you have considerations that are more entity and corporate laws related than using the state A  and state b makes more sense. 

 But if you are trying to save on $$ than multiple states would be costly. 

If you are not sure what considerations to address than talk to legal consult. 

Dani

Become A Smart Investor Not A Landlord – Out Of State Properties + Power Meeting

Lectures in Burlingame and Sunnyvale

Wed. 4/13, Thu. 4/14, Fri. 4/15

The class will cover the following:

• Basic and important aspects of real estate investing
• The Main reason you should invest in real estate
• How to get started
• The truth about cashflow vs. appreciation
• The buying process
• Investing locally or out-of-state
• Can you invest while being very busy?
• Using property managers and dealing with tenants
• Understanding mortgages
• Q&A sessions and more

http://simplydoit.net/downloads/become-a-smart-investor-not-a-landlord-out-of-state-properties-power-meeting/

Become A Smart Investor Not A Landlord – Out Of State Properties + Power Meeting

Lectures in Burlingame and Sunnyvale

The class will cover the following:

• Basic and important aspects of real estate investing
• The Main reason you should invest in real estate
• How to get started
• The truth about cashflow vs. appreciation
• The buying process
• Investing locally or out-of-state
• Can you invest while being very busy?
• Using property managers and dealing with tenants
• Understanding mortgages
• Q&A sessions and more

http://simplydoit.net/downloads/become-a-smart-investor-not-a-landlord-out-of-state-properties-power-meeting/