All Forum Posts by: Jonathan Oh

Cleveland is the most affordable of those three markets, but inventory is still very tight . Turnkey is nice for a first investment, but you'll premium for it. It might be scary if its your first purchase, but I wouldn't rule out using an agent to purchase a home needing cosmetics.

@Marc S. I'd also add it's not all about CoC, but how the neighborhood is and how the property will perform overtime. CoC just gauges how the property will do today. Are there positive things happening in the local economy? Opportunities to increase rent? What condition is property in? Are there capex items that you'll need to cover in coming years? These are things to consider that will affect your cashflow over time.

And IMO, if you're not planning on living off your rental income anytime soon, then the goal should be to acquire as many assets with as little down as possible and spread your risk over multiple properties. This means no cash purchase. Hope this helps! 

@Sergio Montoya where are you looking to invest?

@Kyle Bridges First one is always the hardest and scariest. It will always be a jump of faith. A good agent and property management will be crucial if you're investing out of state. if you like to use data to supplement your research, feel free to dm me. I have a free tool you can use. Good luck!

@Jhenyn Aquino

Congrats on taking some action! San Antonio is a great market. I invest in an apartment complex in New Braunsfels. It's got a lot of good things going for it. If you haven't found an agent already, I have one I can refer you to. And if you're a type of person that likes working with data, feel free to dm me I have a great tool you can use for free. Good luck!

@Kaira Resch Have you considered working with a realtor to purchase properties needing cosmetics? Not as risky as full rehab, but manageable remotely. And you can prob get in at better price points. Otherwise, you'll be paying a premium for turnkeys with minimal cashflow.

Get familiar with whichever market you plan on investing in. Connect with property managers and agents in that market. And reach out to lender to see what you can afford before you start. As for investing in something else, the question is in what? I like to diversify, but the biggest portion of my portfolio is in real estate. It's a slow, steady, and relatively predictable income stream. Hope this helps!

If you’re just looking for homes on market Redfin/Zillow should be fine. The platform is powered by mls.

@Sam Sala Put more focus on the deal. Every turnkey company will have their share of unhappy investors. And it's usually because they didn't do a thorough due diligence. Run the numbers, get a 3rd part inspection/appraisal, research the neighborhood (Demographics, income ranges, crime, etc.). Turnkey is not 100% hands off. There is still some effort needed on your end. If you're looking for something truly hands off, look into syndications.

Love this post. I see many new OOS investors fall for "great on paper" deals without fully understanding the location.