All Forum Posts by: Jon Allen Jr

@Sarah Stamper, @Marianne Lopez-Henthorn - FYI, Richmond was second on my list right up there with Colorado Springs.

@Jimmy O'Connor, I grew up in the Philly area, but have lived overseas for the past 15-20 years.  I was looking for a second-tier MSA that had strong market growth fundamentals in combination with liveability.  I was looking at the Main Line primarily for schools for our kids (Lower Merion, Radnor, TE school districts), but home prices and cost of living were pricing me out.

Marianne, my family and I are in the same situation. We've lived overseas for the past 15 years. Although our move date is still TBD, we landed on the Raleigh MSA. I'm interested in adding multifamily to my portfolio, so I did a market analysis of second-tier MSAs analyzing job growth, population growth, etc. I cross-referenced those results with liveability, great places for raising a family, etc. rankings. In addition to the job market, strong education fundamentals, Raleigh is also two-hours from the beach and mountains. It's also not too far from other REI markets that landed on my radar: Greensboro, Richmond VA, Greenville, Charleston SC. I'd be happy to tell you more about our decision-making process off-thread.

Wonderful!  Thank you all so much for your responses.  I'll be reaching out off-thread to follow up!

After 15 years of living overseas, we are moving back to the States before the end of 2020 and have chosen the Raleigh area as our landing pad. We are looking to do a live-in flip for our primary residence and will also be in the market for SFRs and multifamily syndications. I have a portfolio of SFR buy-and-holds in the Philly metro area and do some private lending for flips, so I have a decent command of the fundamentals but I know absolutely nothing about the Raleigh market. We are looking for a realtor that specializes in working with investors on SFR flips and buy-and-holds and would love to hear from referrals or realtors. Thanks so much, stay safe and be healthy!

As landlords, what can we do to best prepare ourselves to manage tenants who are going to be hit hardest by the economic impact of the Coronavirus?  Given the trend of the past few days (written on 03/16/20) and the impact on the services industry and soon to be reverberating effects on the overall economy, I'm worried about tenants not being able to meet their rent obligations.  Any tips or recommendations from landlords who weathered the 2008 crisis?  Are their programs to refer tenants to who are in need of short-term support to cover cash-flow gaps?

Thanks Kon for your feedback, much appreciated.  I've received some of the exact same feedback offline too, so I will be proceeding as such.  Best, Jon

I have four single family BRRRR properties in my portfolio where I have done the BRR but have yet to add on the last two Rs of refinance and repeat. These four properties are obviously cash flowing very nicely without the mortgages, but I am now in need of cash for new investments. My question to the forum is whether I should take advantage of the higher real estate prices (higher appraisals) and still somewhat decent interest rates and pull equity out of all four of the properties now or whether I should wait pull equity out as needed?

One the one hand, its nice to have the cash flow from these properties which I can reinvest taking note that we are in a record bull market due for a correction at some future point.   On the other hand, I may have deals (single-family, multi-family, private investing, etc.) coming across my plate where I will need the cash and have to act quickly.  

So to recap, should I pull equity out of all four properties now, locking in a current interest rate and freeing up cash for new investments, or should I pull out just enough equity for a next deal and play them one at a time?

Thanks folks in advance for any insights you may have!