All Forum Posts by: Jonathan Oh

I'd also add to Ali's comment above that everything has pros and cons. You can invest turnkeys, find deals yourself off mls, do brrrrs remotely (very risky), etc. But based on what your goals are, some strategies may work for you and others may not. Hope this helps.

@Mike Masland Your boots on the ground team will be crucial to your success. But it's just as important to invest in the right deals. Investing remotely lets your dollar go further, but you need to make sure you invest in the right areas. Cash flow might look attractive in the midwest, but what's good on paper may not always pan out in reality. Avoid the low C-grade and D-grade neighborhoods. Lots of sellers will try to take advantage of out of state investors. Good luck!

@Jesse Proett Turnkeys are not meant to held for only 2 years especially since you have little to no equity when you buy. It's good to start with them to get your feet wet, but it becomes very hard to scale.

@Jordan Lefkowitz Too little information for anyone to help you choose a market. First you need limit your search to specific metros or cities. For example, Florida has Jacksonville, Tampa, and Orlando. In general, aim for markets with growing population, diverse economy, and low unemployment. Depending on how much capital you are working, some markets may or may not make sense.

@Athita Covington Long-time tenants are awesome as long as they aren't causing trouble. Tenants that have settled into rentals and treat it like their home are the best. But assuming there hasn't been any major upkeep done in years, keep in mind that you may need to shell out some $$$ on neglected repairs once they move out. Hope this helps! 

@Bob Galivan Nice work! Just curious, which part or Cleveland is this in and why did you decide to invest there?

@Kyle Johnson

"but all I care about are the numbers and what will provide greater returns" - this is a beginner mistake. It's not just about cashflow now, but also the future. Take a deep look at the macro trends for the market and submarket/neighborhood trends to gauge what the outlook is. If you're strictly looking for immediate returns, Cleveland will be better because homes are cheaper and rent-price ratio is much higher. In Phoenix, homes are more expensive, but you have a lot of growth happening there. Both markets have pros and cons, so comparing Phoenix with Cleveland is not quite apples to apples. Hope this helps.

@Don Huynh With how competitive it is right now, you have to be ready to pounce on a deal when you find one. Get on email lists and setup alerts for new listings. Practice running numbers and get familiar with what types of homes are selling and for how much. If you're starting out, I'd connect with other investors in the market you target and get some insights on where they're investing and what has been working for them. Hope this helps

Tampa is a great market as well as several other markets in Florida. Florida is benefiting from the sunbelt migration and the data shows no signs of slowing. More people means more need for housing. This is one of many reasons why investors like these markets.

By scaling I mean acquiring more and more properties. But seems likes it was in your intention anyways. Good luck!