All Forum Posts by: John Smithe

I've been seeing alot of talk around roofstock.com.  While I haven't seen any great deals in the areas ive been researching, I have to say that the materials on that site are a wealth of knowledge!  As a newer investor, its awesome to be able to read through actual inspection reports where they place estimates on work that needs to be done specific for that area...and its really awesome to be able to read through the tenant ledgers....ive learned that, even in the good areas, tenants are late on rent ALOT and what to expect for realistic costs during turnover after signing up with property manager.

Just thought I would give a shout out to others who are looking for good research sources.  

@Scott Krone, thanks for the great information. Im in a bit of a whirlwind as my initial plan was thwarted. I was looking into investing in a quad that I could house hack. Then in the FHA year I'm in the area , I would build a team and pick up some SFRs where I would then vacate the MFR and continue working with the team to continue building a portfolio from afar.

However, I talked to a lender and learned that FHA won't approve a loan if you don't already live within 90 miles of the property. Even if I could prove that established residence in the unit is no problem. So that plan is a bust.

Its hard for me to decide if I want a stable cashflowing market like St. Louis or Kansas City or a cashflow/growth hybrid like Tampa or Orlando. I'm leaning towards stability since I, too, believe we are near the top of the cycle. Either way, looks like ill have to either rent and establish a residence first or buy a fixer upper and live there for a few months while working with contractors to get it ready while looking for a MFR in the area.

Lots to think about.  I really want to be in the area the first few deals so I can get hands on experience.  Doing it all from afar seems daunting.  Thanks for your input.

@Caleb Heimsoth, wow, that idea never occurred to me.  Thanks for the quick thinking.  Brilliant.  Would love to research past answers from 2010 to see what people were doing way back when in a much better climate with deals all over the place.

Hi everyone.  In an attempt to try to stop my analysis paralysis, curious as to what established investors would do in the following scenario:

$100,000 liquid

No Debt at all

Remote IT Job making 100k/yr.  Location is a non issue.  Can move anywhere or stay put.

No family or anything holding back from making drastic moves.

What market/strategy would you use the 100k for buy/hold purposes in today's climate?