All Forum Posts by: Joseph Crunkilton

Michael, 

I was in a similar situation and it was definitely overwhelming. I did a lot of networking on here and connected with @Zach Lemaster who helps OOS investors get going. He helped me with my first few deals. 

There's a million things you can analyze and it becomes a big headache. He helped me shorten the learning curve and get me going quicker than by myself. 

Best way is to ask for some suggestions on here and buy there. Each one has quirks and you can spend years scrutinizing every detail. What matters is time IN the market. Not timing the market. 

KC, Indy, Little rock, Columbus, Cleveland, all great markets. @Zach Lemaster helped me buy my first few out of state rentals and I'm sure he could point you in the right direction. 

@Don M.

Can you share details on the financing? I am interested in this given the potential for big equity. But it seems there have been difficulties on the construction end. 

Marc,

Maybe consult some neutral experts to weigh in. Some local agents or PM companies perhaps?

It's possible to max out the scale if it's the nicest house on the block. But if it's a mansion in a d class neighborhood, you're still getting d class tenants. A+ renters aren't moving out that way. 

But this isn't to scare you off. I have a rental in a c-d class neighborhood. It makes awesome cash flow. I just signed up a long term tenant with a good rental history. 

You also don't want to buy a house with negative equity. If it appraises, makes money and they can provide a good tenant, why not?

But if it under appraises, they don't have a tenant lined up and the neighborhood is brutal, I'd steer clear.

Invest out of state with a turnkey provider :D. Little work and sweet returns. 

Mike, 

turnkeys are where it's at. I've bought a few and they've performed well. I spent an entire year sourcing BRRRR deals and I couldn't make the numbers work better than my turnkey rentals. Funny how that works. It also sucked up so much time.

@Zach Lemaster is who helped me. You should connect with him if that's a route you're thinking of going down. 

If it makes dollars, it makes sense. Spend the money on RE so the rental can buy you nice things forever. 

If you're interested in turnkey, you should check out @Zach Lemaster. His team helped me buy my first few rentals. 

Build a good team of professionals that you can trust. 

Deal finder is huge. I spent over a year trying to BRRRR and couldn't find better returns than my turnkeys.

Also, get referrals for investor contractors. I tried using my PM to help arrange contractors which was laughably bad. 

Best of luck

 Been successful so far. One was a breeze and has been making solid returns year over year. The other had a difficult tenant where they paid for the majority of the cost and helped me with new management. Now I have a new tenant making almost double the cash flow I had originally. 

They're not perfect, but it was a great experience as a new investor. Will definitely keep monitoring as the years go on. 

Good question though.