All Forum Posts by: Jonathan Nixon

Good morning BP,

I'm an out of state investor and not super familiar with industry folks in Central Illinois. I'm looking for suggestions for realtors in or around Bloomington. If anyone has had positive experiences working with someone in this area and would like to pass on their name, then I would be most appreciative.

Thanks much!

P.S. If you're from near the area and would like to chat more about the market, then shoot me a message!

awesome to hear of the success. Houston is such a large market that I bet there’s opportunities galore for you guys. Those lessons are invaluable for changing your perspective in future analysis. Way to go ✌️

@Alex Kamunyo

Things I consider when evaluating a market.

External factors that provide jobs to pay for houses- Colleges, Big business, Population density, Vacation/Tourist attractions

Demographics that are generally balanced are places that I'm interested in. Within those cities neighborhoods that have high % of a specific demographic can be targeted as a niche market. 

Weather: Cold weather can cause headaches with vacancies and even some differing repairs/expenses. Warmer weather = generally better  (many others agree)

Crime-- usually there's better places within a city, but this I try to look at neighborhood by neighborhood vs overall city. Example: Somewhere like New Orleans the crime map is bad virtually everywhere, but it's a great housing market for many investors despite that. 

I  avoid places where cost of living is so low that studios and 2BR/1BA are going for 500$/mo or less.

I would personally want to have it on. If it costs a little extra money to do it, then I would say it's worth it for the diligence perspective. 

However, I don't know what their obligations are to you. 

Check out Lex Levinrad and distressedpropertiessale.com for some listings to thumb through

@Kyler Cook indeed! Plus, nothing like just being able to cash that check each month

@Karam A Tascoe love that you took advantage of the auction site for the rent & rehab. Just curious, had you been following this property prior to seeing it on auction.com

@Chris B. Well done finding these properties. I have to say I'm more on board with flipping at least one of those properties that you have created so much equity in. As stated, I personally prefer less leveraging and you've essentially created a nice nest of cash (equity) that in a down turn could be lost. 

That lump 40k or whatever it is that you raised is something like several years worth of rent after you've paid it off? I feel like with your success finding deals that you should be able to do more with your cash in the short term :)

@Mikk Phillips I reached out earlier today about it. I think we missed the boat on this round 

@Kristin Kiddy That is a very valid point, thank you! Have to plan for the worst case scenario there I'm sure.