All Forum Posts by: JoJo Tucker

@Kelly DeWinter

Thank you so much for your helpful response! Has your negative experience deterred you from investing out-of-state and focus more locally?

Hi Andrew,

It appears I am a little late to the party as you may have already found a new property management co., however you should contact @Kenny Dahill. He is the CEO of Burbz. Essentially it is a property management marketplace for tenants, landlords, and property managers. To avoid misrepresenting this company I copied and pasted an excerpt from there website: 

"With the Burbz online marketplace, you can submit your property for free and receive proposals from local property managers. Comparing these property management companies is easy since you can see ratings provided by other real estate investors."

Hope this helps. Kenny is very savvy, but more importantly very approachable. Honestly, as much guidance as he has provided me I owe this guy a bottle of whiskey!

Good luck in your search!

Hello Everyone,

I am beginning my REI adventure with out-of-state rentals; primarily because I simply cannot afford buying a house where I live (Sonoma Co., CA). I have read several books on the matter ("Long-Distance Real Estate Investing" by David Greene, "The Millionaire Real Estate Investor" by Gary Keller, etc.), however I would like to open a discussion to fellow BP members on their experiences.

Currently my objective has been to study the markets and demographics of different areas and find one that suits me best. I had recently honed in on Houston, TX and have now been building a contact list of investor-friendly realtors I can interview. 

Generally, what has your experiences been investing out-of-state?

What steps do you take to mitigate risks?

What are a few key things you look for in a realtor?

Any general advice you would like to give to me would be greatly appreciated.

Thank you so much for your time!

Best,

JoJo Tucker

I believe Dual Agency is much more prevalent in Business Brokerage. It appears it has already been mentioned, but the Listing Agent owes fiduciary responsibilities to the seller and that includes getting them the best offer possible. You would benefit more from hiring your own agent as the commission is usually contracted to be paid by the seller. Dual Agency restricts the advice that can be given to a potential buyer, especially when it comes to the offer. Hoper this helps!

Hello Everyone,

I live in California and would like to invest in my first out-of-state rental property. I narrowed my search down to Phoenix, Austin, Denver, and Houston. Houston appears to be the most practical for me, in terms of listing prices, ROI, and market stability. Ideally I would like to purchase somewhere close to the downtown area, south-west to be exact.

My questions are: 

Do you believe Houston to be a lucrative market?

Because this is my first-time investment, should I prioritize Condo/Apartments over SFR to minimize unforeseen expenses?

My budget is $180,000. Would I see a greater ROI if I purchased a 1 bed/1 bath Condo/Apartment near downtown or a SFR with 3+ bed/3+ bath that is several miles away from downtown area?

I look forward to hearing from everyone!

Thank you,

JoJo Tucker

Hello,

I live in Sonoma, CA and have been looking into buying investment properties out-of-state. Houston, TX has caught my eye in terms of market and demographic statistics. Does anyone else have any experience investing in the Houston area? Do you believe it is a lucrative market? If so, are there any credible Property Management firms you like to use?

Best,

JoJo