All Forum Posts by: Joe Jung

@Ben Sorochuk you may need to wait the full year (April 2023) and go FHA while keeping that boarder income and making sure you have a signed lease so when you move out, you can use that income to offset your next property.

You might even consider investing out of state until you get more equity in your current home and get a HELOC. I live near Seattle, too so I know the amount of down pay and zero cashflow is near damn impossible to invest here without some crazy luck. Not sure if you're open to partnering, but since we're in the same state, we can talk about that option?

@Luther Wilson III thank you for the info! That's definitely the ultimate goal haha. Would you be open to a phone call tomorrow? Would love to talk more about this.

Quote from @Nicholas Weckstein:

Hey Joe, Local investor and Realtor in the Wilkes Barre/Scranton areas. We enjoy some of the highest cap rates and cash flow at the price point. The area has seen a lot of growth and promise and in my opinion has more to go. I have a website with a free report about Luzerne County on my profile in my bio. It is pretty accurate for all of the NEPA area. 

Hi @Nicholas Weckstein would be interested for sure.  Can you please PM and send something over?  I would like to run the numbers and see if it still works with a PM.  Again, just want to emphasize they're in B class neighborhoods.

Quote from @Christy McLemore:

I second Hattiesburg! I'm a real estate agent here and this is a popular area for out of state investors. A lot of homes in 39401 under $100K have come on the market in the last month or two, some of them already rented. 

Hi Christy, let's connect!  I'm looking now and most likely will purchase within a month.

Quote from @Greg Henderson:

Look into Hattiesburg Mississippi. Plenty of deals here. Crime is almost non existent. Three local Colleges and two large hospitals that serve a very large geographical area. Plus Mississippi has the nations lowest average home prices. Taxes are very affordable as well. There are a few rough areas and a couple flood zones I would avoid, but its honestly trivial compared to a large city. You can find 100k 3/1 or 3/2s single family that rent for 1200 a month to college students in 39401 or look into the 39402 oak grove/ sumrall school districts for 500+ a bedroom at 150k+. 

Check out delta if you want to look up taxes: https://www.deltacomputersyste...

Hey Greg, Thank you!  That sounds amazing.  Do you also use a property manager you can recommend or do you manage those yourself?  Are there also sections of 'non-desirable" areas I should be aware of?  

Quote from @Eliott Elias:

I'm investing in a market called Killeen Texas. Here you will find the 1% rule, BRRRR property, flips, and great cash flowing Multifamily. The area isn't the best, I would consider a lot of it to be C/D class neighborhoods. But the funds manuals are there and you don't have to lose money every month to keep a property. Happy to talk with anyone interested in this market

Are there B-class properties in Texas that cashflow?  I'm open to C class, but I wouldn't feel comfortable unless it's higher end C-class.

Hello,

I currently hold 5 units and looking to expand from Cleveland. The higher tax and interests are making it impossible to find deals over 7% cap rate or BRRRR. Does anyone have any recommendations? I would love a referral to a good real estate agent (I'm licensed in WA State myself), but more importantly, a GREAT PM. I found that they make all the difference. I noticed good PMs don't serve D areas because they know everyone will shift the blame to them and take a conservative appraoch. I personally like investing in B- to B+ area, but those are difficult to evaluate from REA or zip codes. I found some on biggerpockets where some people created maps and post zips codes, but PMs are the ones that has to deal with the property long-term.

Anyways, would love suggestions on the market everyone else is investing in and maybe different ways find deals.  Thank you!