All Forum Posts by: Jonathan Oh

@Jenning Y. Your comment about turnkeys and lack of focus on appreciation is spot on. It's usually the new investors that get sucked into the cashflow trap like you mentioned. They don't fully understand the importance of location and strictly go for the highest cash-flowing properties thinking it'll always be smooth sailing. This post should be read by anyone looking into turnkeys. Great post!

@Jordan M.
Why not build a team of people you can trust in OOS markets? If you ever want to venture OOS, that is where you'll have to start. But if you're finding equally good deals locally, then that's a no brainer.

@Josh B. James
One thing to keep in mind are any updates needed to bring in that market rent. Look at other rentals that are renting higher and see how your property compares. I also agree with Patricia in that you need to raise those rents up. I understand the tradeoffs of a good tenant with slightly lower rents. But if it's $775/mo lower, that's not a good tradeoff. Hope this helps!@Patricia Steiner

@Ralph Chiaia That's a great market with a lot of investor interest. Just a thought, but if you uploaded rent and cashflow it'd give other investors looking into the market a great reference. Congrats on your purchase!

Most of my cash is deployed, but I'm building up some dry powder for MF opportunities in 2021. In the meantime, I'm preparing to officially launch my startup ScopeOut!

@Ralph Chiaia Awesome! Which market is this in?

@Account Closed
These stats are useless. Every city has bad areas and good areas. Would you blindly invest in any property in the city with the lowest crime rate? No, you would still want to look at what the local rental rates are, how much households earn in income, how the schools are, if people are moving into the area, etc. People are still finding deals in Detroit, Memphis, and Baltimore. Don't rule yourself out of these markets just because they made it to this list. Hope this helps!

@Leonel Leon puente jr First few doors will always be scary. You just gotta do your due diligence and be educated. One tip I would have is to really understand difference between neighborhoods. Too many beginners focus on their spreadsheet numbers and not on the one thing you can't change - the location. Hope this helps!

@Joe McManus Not a STR investor, but you may want to look into mashvisors, they gather a ton of data for STR investors.

@Laura Kusto
Turnkey companies are not known to have the best PM services. Straighten things out with your current PM and always have a backup PM in mind.