All Forum Posts by: Jeff Roth

Hi Niranjan in San Jose, California-

Congratulations on being ready to make your first investment!

You are asking about a remote strategy for buy and hold investing and thinking about companies that offer "turnkey" deals to avoid making mistakes on your first investment as your market in California is too expensive.

You are not the only person starting out in an expensive market looking to invest out-of-state.

While there is nothing wrong with buying "turnkey" investments that a company has packaged, you can do the same thing while being more flexible in the deals you pursue with the strategy of finding an investment friendly Realtor who is an investor themselves and an excellent local property manager in the areas you are interested in.

You can find these people through Facebook investor groups for the areas, local real estate investor groups in the area, agents who frequently list investment property in the area, and this forum on Bigger Pockets.

There are several markets in Michigan that will give you strong cashflow with appreciation.

To Your Success!

Hi Isaac in Louisville, Kentucky-

Congratulations on your fiancé being accepted to medical school and you finding a new job near her to be together!

Now you are considering your real estate options and wonder what the best thing to do is.

I advise a lot of medical professionals at various stages in their careers as well as new investors.

In your situation, I would consider buying a duplex where the tenants help you pay the mortgage. Also recommend using a property manager to manage the property so you get used to managing the manager and keeping your investment as passive as possible. Plus, they handle the repairs. The property manager should be involved when considering a deal and helping you understand market rents and how to increase value. An investor friendly Realtor should also be a part of your team.

Then, if you decide to move, you just keep the property as an investment. The other advantage is you can buy it as a primary residence with low money down.

To Your Success!

Hi Steve from El Centro, CA-

Congratulations on your wife and yourself being interested in small to medium sized multifamily outside of California.

You are trying to educate yourself and asked about what to read and You Tube channels to follow.

I like Multi-Family Millions by David Lindahl and Ken McElroy and Peter with Commercial Property Advisors on You Tube.

To keep things real simple, I would find a commercial broker that has a teacher's heart that can help you evaluate deals and model out what you would like to do before and after you purchase to increase value.

Then, if the commercial broker is any good, they will have referrals to all the other team members you need but a big one is the property manager and you want them involved helping you evaluate deals before you buy and planning with you how to increase value.

After that, you want an excellent attorney, lender, insurance agent, and property inspector.

There are some great opportunities here in Michigan if that is a market that interests you.

To Your Success!

Hi Jay from Detroit, Michigan-

I love this question!

Will tariffs benefit manufacturing in Detroit and Michigan in general as a manufacturing hub with skilled labor and factories that could be put back to work?

Should real estate investors be looking to get ahead of this opportunity?

I think there is wisdom in this and am excited for the workers and families in Detroit and Michigan that benefit from this trend.

To Your Success!

Hi Evan in Cleveland, Ohio-

Congratulations on being ready to begin working toward your real estate investing goals!

You say you are young and have saved a good amount of capital and are interested in finding a property you can Buy, Rehab, Rent, Refinance, and Repeat.

You wonder where to start, where to look for deals, and any advice.

I would look for an investor friendly Realtor who also does what you want to do in your area as you said you want to be involved in the renovation work. You can find this Realtor looking at listed properties that look like they have been recently renovated, this forum, local real estate investor groups, and on Facebook groups for real estate investors in your area.

To Your Success!

Hi Scott from Austin, Tx-

Your comment about many strong people not having an easy past related to investor mindset has wisdom.

While I do think investors who are passionate will find a way to overcome obstacles and keep going, there is something to be said about there being no effective substitute for someone having to overcome unknown setbacks to get where they are at for their strength and character.

I do pray all investors find their way to success in real estate with a minimum of drama.

One way to do that is to borrow the wisdom gained from experience from a trusted mentor who has seen their fair share of mountains to overcome to get to where they are at.

Thanks for sharing!

To Your Success!

Hi Ying in Phoenix, Arizona-

Congratulations on having equity in your primary residence, a cashflow positive rental, and money to look for your next deal.

You like the BRRRR method or Buying, Rehabbing, Renting, Refinancing, and Repeating but are finding that more difficult to do by you and are considering out-of-state markets.

Agree, the Phoenix area is a great area to invest in BRRRRs if you can find the right opportunity.

However, if finding deals is more difficult there, there are several markets in Michigan with rent growth and appreciation where the BRRRR method still works.

They key to working out-of-state markets is the strength of your local team. Having an investor friendly Realtor that can help you find properties where you can add value and give you accurate after repair values is extremely helpful. Then, having a local property manager that can do the rehab work and manage the property after the rehab with a proven record of success is also very helpful.

We have partnerships with highly rated property managers in all of the markets we serve.

To Your Success!

Hi Natalie from Detroit, MI-

You asked about mitigating risks when owning investment property in Detroit.

While no investment is risk free, you certainly can reduce risk by educating yourself and working with an experienced local team.

Probably the two most important people on that team are your local investor friendly Realtor and property manager.

They will make sure you are buying in the best areas and make your investment as passive as possible. The property manager will have their own maintenance team or network of preferred contractors to make sure your property is maintained and tenant turnover at a minimum.

To Your Success!

Hi Lawrence-

You are a 26 year old father of 4 and want to grow a large portfolio for retirement by 50 or 55 and want to be able to travel and help your kids.

You have a well paying job with a 401K with no company match and wonder where to put your money.

Congratulations on looking at your investment options at a young age.

Personally, I would look at investing in duplexes in a place like Lansing, MI where you can buy a decent duplex for around $130,000 with room to improve the property and rents. This will give you a strong cashflow position and in a short period of time you can pull out equity and go and buy the next duplex the same way. We have an excellent property manager there to keep your investment as passive as possible.

Doing this consistently over time will have your properties going up in value, debt going down, and rents increasing to help you achieve your goals-not to mention the tax savings along the way.

To Your Success!

Hi Sendil from Gainesville, Fl-

You are looking for someone to help you with a cost segregation study to save on your taxes.

I have many physician clients buying short term rentals and using this strategy for example and I recommend they use Maven Cost Segregation Tax Advisors.

They are active on Bigger Pockets. They also have 17 5-star reviews on their Google business profile.

They are located in Sterling Heights, Michigan but can help anywhere.

Ask for Sean Graham. He can answer all your questions.

To Your Success!