All Forum Posts by: Jeffrey Nordin

@David Khalfin, Mike, Lane, Jennifer and Jody do make a number of succinct, actionable suggestions:

1. Fly out and look before you drop 30-80K

2. Call a local REA or PM for third party insight

3. Check comps

4. Schedule visit with local Meetup or BP group to attend

Some very good points made here, as usual!

In general, I've noted that newer investors seem enamored with TK, but that more experienced REIs downplay them. The discrepancy comes either from a crappy experience, or realization that yes, purchasing cheaply is STILL better than just cash flow positive on retail priced asset.

I've often wondered if I'm just straddling and noncommittal when I run TK numbers. I KNOW I SHOULD pay less, but that siren song of easy, low stress positive cash flow just sounds so good. Certainly better than hunting for deals, assembling an out of state team of contractors and PMs.

It's a real dilemma...

Run away. FAST.

I know you want to close on a deal you've put a lot of time into, but I'm sure all your internal alarms are ringing like mine.

Good luck!

Jeff Nordin

Congratulations to you and your wife on this successful strategy, even if it's encumbered by the usual tax and life penalties! 

I'm still in the read and collate phase but it's nice to get back on here and check out people who are DOING as well as planning. 

Continued success to everyone in the community! 

Jeff

I'm sure you know of the issues with Stockton and their financial woes. I'd assume (but don't know) that income level of renters adds a certain level of problems compared to renters in another area. Given the choice, I'd pick Lodi all the way. Run the numbers: maybe I'm wrong

Ken, Kevin great thoughts. Nathan, no disrespect meant! 

Like I said, if the market with best match is on Mars I'm OK with that. 

Austin seems like a great place, IF the purchase price is reasonable. I'm always laughing when people say how expensive it is - try LA or Manhattan! 

I'm very amenable to joint ventures, I just need that unicorn who wants to share and teach a little. I'd rather do my first deal with a colleague if possible. 

I can't say cash is just laying around, but Healthcare pays OK so that first 50K isn't too hard to manage. It'll just take a minute to do it again, and buying one property with small cash flow is not worth it. 

See, I've written a lot before even finishing my reading. Oops! 

Thanks Mason and Seth, 

I'm quite sure there is a ton of money to be made in CA, I know I certainly gave away a lot of it to buy here! I guess I thought the margins were pretty tight and there's a ton of competition?

But that doesn't mean that it's impossible, just harder. I'm OK with that. But if I can make more money selling chicken coops in Wyoming, I'd do that, too. I care about the cash flow and margins, not the zip code. 

Mason, I'm likely going to relocate to Texas in a few years, I hear you. I haven't done any webinars yet but if you want to grab a beer if you're in LA, I'd love to chit chat. I have no formal business to plug *

Thanks as well to Kevin, I'm gonna keep my ears open and mouth shut until I get a little better feel for what the market holds. 

Seems like it would be hard to get equity in CA unless you were maybe in some as yet underdeveloped part of Chula Vista or something...? 

Thanks Mason, good luck to you as well! I'm not thrilled about return on investment in CA unless holding long term, but that doesn't really sound like a good strategy. But I'm leery about buying out of state just because I'm not on the ground to intervene... It's a real dilemma!