All Forum Posts by: Jie Li

@Trevor Ewen

Thanks for the advice! I'll do some research on syndication. Do you have any recommendations on out state turn key markets to invest now?

Thanks!

Jie

@Trevor Ewen,

Yes, I did fly over and check the properties I invested. I also graduated from IL, so I've been to Chicago several times (although not the neighborhoods I invested). 

I want to invest in Dallas bexause I used to live there for a shot period of time. I like almost everthing there, except the weather. 

Now I'm strugling with whether to buy & hold in the bay area at this price point, or buy turn key properties out of the state. And I just knew that there is a 3rd way to invest through syndication on appartment from @Gilbert Dominguez. Now I'm looking for advice and recommendations on Syndication too.

Thanks!

Jie

@Gilbert Dominguez

I've invested in a syndication for land development through IRA account in ND. As oil price drops, I don't expect good result out of it.

I've never heard the kind of syndication you mentioned. That sounds good, but I need to do more research work on this subject. Can you recommend some resources, especially the kind of syndication you mentioned? 

Do you use $19k/unit as an example, or it could be the actual cost per unit on today's market? I saw you come from Chicago area. Do you think Chicago is still a good place to invest in today's market, even if there is the rummer of the city is going to bankrupt?

Thanks!

Jie  

Hi 

This is Jie from Fremont of Bay Area. I'm new here on BP. I hope I could find out BP before I invested. There are so many discussions and good advice on the forum.

I actually invested 2 properties in Antioch/Pittsburgh/Oakley area on 2013. However, the timing was not very good, and the price is already high. With so many investors buying in that area, it made it very difficult to actually close on deals. And even harder to get the property fill in with good tenant( even with the help from property manager). I've tried to look for 2-4 unit deals close to where I live, however, they either give every low cash flow, or at bad neighborhoods with lots of deferred maintenance.

I just sold one property that had negative cash flow and looking for replacement properties for a 1031 exchange. I'm still looking for a turnkey property for the price of $45k-$65k. I also plan to sell the other one once the lease is over at the end of this year. This one gives me a little bit cash flow, with some appreciation. However, it has a terrible HOA, and the bad experience with this HOA made me try to avoid any investment property with HOA.

Because of the unsuccessful experience I had investing in the bay area (even though I'm a realtor and have better access to the inventory on the market), I've switched to investing out of state turnkey properties for cash flow for the past 1 year. I had some bad lucks in ND due to the oil price drop (I learned my lesson on not to invest on single industry here). I've also been investing in Chicago for single families & 2-4 units, and getting 8-10% of returns. 

I was planning to switch to other markets for more turn key properties, like Dallas, Huston, or FL to diversify my portfolio. Then I saw the debate for buying for appreciation in the bay area vs. cash flow out of state in a newbie's post for the last couple of days. Now I need some advice on my investing. Because I've tried both ways, and had bad lucks on investing locally Vs. 50/50 chances on out of state turn key investments. Where should I invest now? Especially bay area and Dallas are all at the record high prices now.

Thanks for taking the time to read my post! I'm open to other markets too as long as they make senses.

Thanks!

Jie 

@Brandon Holley,

MC Companies website is http://www.mcpropertieskc.com/

However, they don't put any deals on their website. That's why I want to get some feed back on this company.

Thanks!

Jie

@Gordon

Thanks for sharing the info! Are those 3 zip codes not in the good neighborhoods? 

Do you invest in the area? If yes, who do you work with? Turnkey property offered by MC Properties for $60k can rent for $700-$725/min.

Thanks!

Jie

Hi,

I'm doing a 1031exchange now and need to buy a 2nd replacement turnkey property for $45k+. 

I'm looking at Kansas City now for this price range turnkey seller. Does anyone know MC Companies? They sell turnkey properties for $45k-$80k, and they have a property management company-Alpine Property Management that manage 200 properties.

Does anyone know this company? How is their turnkey product and their management service.

Thanks!

Jie

@Jim

Thanks for the info!

Jie

@Mark,

Thanks! I saw you were investing in the US while you were in China. How does it work out? Does it make it more difficult than invest out state?

@ Derrick,

You're right. I'm looking for turnkey properties in healthy markets that rehabbed and managed by the same company, so ideally It could cut down the maintance cost later. And yes, I'm fully aware of the importance of property management.

I'm also a big fun of reviews and referrals. That's why I'm here to ask advice from other BP members.

Thanks!

Jie