All Forum Posts by: Jennifer Slaughter

It is important to share what you are passionate about. It is important to find purpose and take action and share about your purpose with people in your circles. Collaboration can happen anywhere, especially among like-minded people who are taking action in other areas.

What kind of opportunities have brought you the greatest happiness?

Right now, I'm reading So Good They Can't Ignore You, By Cal Newport.  The title of the book is based off of a quote by Steve Martin in his autobiography about his success.

Mr. Newport's book is based on the idea that professionally we can adopt one of two mindsets, 

1. The Passion Mindset, where the individual is more focused on a calling and asks, "What can the world offer me?"

and

2. The Craftsman Mindset, where the individual is more focused on mastering skills and asks, "What can I offer the world?"

Mr. Newport argues for a clear bias towards the latter, saying, 

"Irrespective of what type of work you do, the craftsman mindset is crucial for building a career you love".

Which Mindset do you ascribe to? Which Mindset do you think is more popular right now? I would love to hear your thoughts.

@Steve Kontos, I think that is great advice.  I'm always really impressed when new or hopeful investors show up and ask questions.  It is amazing how you can learn and grow with a bit of humility.

Hi @Jared Carpenter and welcome to all of the real estate investing courses and resources you could hope for.  Sounds like you already have some real estate experience but where are you at in the learning process? Have you read any good books that have helped you narrow down your criteria?

It is exciting to have your eyes opened to a new strategy and larger deals through syndication can create more opportunities.

I would check out @David Thompson blog post on Syndication FAQ

https://www.thompsoninvesting.com/single-post/2017...

Hi @Justi Kobilis and welcome! Yes, I think if you are looking for cash flow you can find it in those markets.  Out of those markets, I have partners in Memphis and recently they have been seeing a lot more interest in multi-family. 

Check this out and look at cap rates, vacancy and distribution of total inventory.  You can also do your own search and change the inputs.

https://www.irr.com/research/#!open-research-card=7484&field_markets[0]=33&field_property_type[0]=0&offset=0&limit=24&

@Juan McLemore, I've been investing in Memphis for a couple years and I have a team there, they've been great to us.  One of them has fixed and flipped several apartment complexes so he might be a good resource. Feel free to PM

@Stephen Steric, Cordova is nice. I agree, it is super helpful to have boots on ground in Memphis because it is unique from areas in Colorado or California where we understand there are "good" and "bad" areas.

Welcome @Mark Grozen-Smith! Challenges investing out of state can easily be overcome by setting up expert teams to care for all aspects of your investment.  Once you have narrowed down to a couple markets and you've analyzed enough properties to know that your expected returns are feasible, you can start putting together a team.  When you are interviewing professionals, talk about your "why" and share your goals, make sure you are a good fit and these potential team members can grow with you.

I have set up teams in different markets, feel free to PM if you want to talk more in depth.

What part of SF are you in? I grew up in the Bay and I'm going back next week for the holiday.

@Andrew Kerr, thanks for sharing! These are great resources and you mentioned something critically important--an area being "landlord friendly".  I have family and friends who are investors in CA and a couple of them have experienced the stress that comes from "professional tenants".  

Right now one has a tenant who is squatting at her Airbnb and the tenant has been there for months--rent free.  My friend is having to spend time and attorneys fees to get the situation figured out.

This is a question I hear all the time.

The sources I mention are by no means an all-inclusive list, what resources do you use when you are evaluating a market?

@John S Lewis, like @Chad C. said, someone is making money from them, but if this is your first property I wouldn't risk it. You should go for a property that would be a home run, not potentially tank your cash flow.  War zone/slum properties are a niche, and like any niche, require a certain type of investor. With the war zone properties it is likely you will have higher expenses and more damage from the type of personality and problems that come with those areas.

Get a couple properties under your belt, maybe you'll see you have the tolerance/desire/etc. to have a riskier investment with hope of more cash, but at least if you have a couple winners in your portfolio you can float your war zone one and it won't kill your investing dreams if it proves to be a problem.

Stay patient, keep looking, stick to your criteria and be flexible.