All Forum Posts by: Jan H.

Hi Meiko Lauguico and welcome to the forums. I am in the same boat as you as I am trying to figure out which area I can ‘roll’ my CA investment properties. It takes quite a bit of research but many on these forums can shorten that research time...:) If you don’t have any experience, try to read as many books as you can and educate yourself. Investing out of state takes a lot of gut, you will need a kick@ss team and an outstanding property manager, which is the probably the most difficult to find. So far I am finding that OH, TN, GA and MS could be great potential markets depending on your goals. Look for growing population, city master plans, job growth, unemployment figures, business friendliness and so on. And never be afraid to ask, there are many ‘big-time’ guys here reading these posts. Good luck!

Same here, interested in rehabs...not so much buy and hold in CA right now..

People have different strategies and believe in different concepts. Some do not care about cash flow and bank on appreciation, specially in high-priced markets like CA. I think buying a property that doesn’t cash flow is very risky and personally I would never do it. There maybe exemptions with a MFH deal and a value play, but I wouldn’t feel comfortable doing that. Experience is everything.

@Raj Vachani much appreciated that you came back and addressed all the questions, thank you! It is very helpful when there is substance behind the post and thanks for explaining some of the details!

Not sure about anyone else, but...it's slightly annoying when someone comes in an almost-bragging-like manner (hey, look what I just did) and offers no other information. What is the point of this post?

If you can't offer any details or advice, why post? Has no value at all.

This forum is for sharing ideas and experiences. I am totally fine if someone does not want to share specific details but coming here and bragging about what they're doing or have done without any substance...it's quite unprofessional imo.

What I would also consider these days is the fact that it’s almost impossible to find any contractor in that area, never mind a decent one. There were 7000+ structures lost in the fire and there is a LOT of work to be had. I would definitely do some homework on that...

Buy for cash-flow and you'll never have to worry about market downturn. Appreciation is a bonus.

If you have an exit strategy, that helps too.

Typically, if you want to flip it, you should not pay more than 70% of ARV minus the repairs. What are the comps? Of course, the condition of the house may change this formula, you really need to figure out how much work it will need.

@Michael Sifontes you might want to re-post your numbers in a format so people can actually see and understand them. If you do a screenshot of your spreadsheet, you can post it as an image.

@Tyler M.I have give you kudos for being so organized and diligent, I wish I was like you...

You say you have $50k in cash to invest. Is this cash AFTER you put away some for a rainy day or that's the total amount you have? Remember to keep at least 6 months of reserves of your expenses at all times. You may not need it but you MUST have that in order to avoid a financial disaster.

I am not quote familiar with the Texas market but I would look for a local multi-family deal. Going out of state for you without much experience is very risky, UNLESS you have a very solid team in place in the target market.

Have you gone to local RE meet ups? I think that's a great way to learn and network with experiences RE investors that could also guide you in your local market.