All Forum Posts by: Jonathan Greene

Bad tenants and squatters are wholly different situations. I think one of the biggest analysis paralysis thoughts is on landlord- or tenant-friendly areas. If you do a good job picking tenants, you will be fine. You want an area with a good rental pool and a good property to rent to them. If you have that, and do your due diligence, it's not going to matter.

You seem scared to be a landlord before you even start so it's likely not for you. Where did you get squatters from? Squatters break into vacant homes, can present fake leases, and are a valid problem, but if you have cameras on the house, you will be able to get them out right away and you will see them going in.

Why would an investor buy a $235,000 property that is renting for $1,400? So, investors are out. You have to sell it to a home buyer. How many showings have you had in two months? How many Open Houses have you done? What has the feedback been? Has anyone made a low offer?

The only answer is no. If you aren't a contractor or aren't getting rock-bottom pricing, what is the point? You are taking over for someone who didn't care at all about the rules and you want the city to just be like, "yeah, this is fine"? The bigger problems is that you are overdoing how good the property is. You said good and GREAT in the first sentence, but those don't go with unpermitted kitchens so you are trying to convince yourself it's good, but it's not.

If you plan on moving back, this makes sense, but if not, it seems silly to now try to BRRRR where you just were. Memphis is a market where BRRRR is possible, but with rates going up again, it's not a great idea. You could buy a turnkey rental there and do none of the work - look up MidSouth Homebuyers. They only do Memphis and Little Rock and may provide you with the end result without the hassle if you like that market.

That's pretty vague for people to help you. What do you know? What is your plan? Why real estate investing? What kind of capital do you have? Do you know any real estate investors? Have you read any investing books? Do you listen to real estate investing podcasts?

Find a local meetup is your first step.

Look up Amelia McGee of WIIRE. She has a ton of units in Des Moines and still lives in the area so may be able to give you some advice on what might work there and what won't.

Thank you for listening to 1054! Philly is a nice option, but you have to study the blocks for about a year to be sure you understand the area you are investing in. I have a lot of colleagues with multis in Philly and all are doing well because of low taxes and high reliability, but it has its challenges. I have owned so many properties in NY that were long-term rentals and it is renter-friendly, but if you choose correctly, you won't really ever care.

Meetups are a great way to add to podcasts and books. It's meeting people a little ahead of you that really make it seem doable. Good luck!

@Alyssa Holbrook is in the Salt Lake area, and she is an absolute boss. She speaks at a lot of meetups locally as well.

How do you want someone to answer this? There isn't even a question. There is no background information. What are you expecting from this post? That someone will write a long answer that will tell you how to do it? You have to write better questions to get good answers.

1. No, it's not a good idea, but it's possible to do correctly if you don't rush into it. If you are already planning to buy out-of-state and use property management, you are leaving money on the table and may want to look into more passive strategies since you don't seem to want to do management and you will still need to manage the manager.

2. You are not useful with one multifamily to the best property management companies. That's not a good client for them. So, you will be choosing from new ones and bad ones, or sometimes someone being nice, but you will overpay. Check local Facebook groups and connect with local investors who use PM.

3. You are talking about analyzing deals on a spreadsheet only since you want to look out of state. This isn't analyzing deals, this is just playing a video game. If you've never done it and never looked at properties anywhere in person, how will you know what any of the numbers even mean? How will know where all the cap ex is?