All Forum Posts by: Joshua Huston

I'm looking for some advice about learning property management. A few weeks ago I received several job offers after applying to be an assistant property manager, both from companies that managed SFRs and small multi-family, and those managing large apartment complexes. Unfortunately I had to turn them down due to a short time-table of army training. My thoughts were that I could learn how to manage properties with no risk. However, at a recent meet up I was advised that it didn't matter too much; other things like finding deals and making offers are more important. What are your thoughts?

@Dylan Wright

So I literally walked every single street on the area you are describing, and the big problem is that I would describe almost anything east of Troost Avenue as a war zone. I was doing work for a religious organization at the time, and while there are good people and good pockets scattered throughout, it is definitely low income and high crime. Off Prospect and 31st there used to be a group of 50 people who would just hang out every day until they finally finished building the new police station close to Broadway and 25th. I don't know if you are planning on working in the downtown, but it is definitely not an area with working professionals. All of the Northeast on down to 39th street I am familiar with, and I would say at least 10 percent of the SFRs in that square block are boarded up. If you get to take a drive up and down, I would highly recommend it. I'm not saying you can't do it; just be aware of the fact that it is low income and well inside what I consider to be the I-435 demarcation line that transitions into slightly better neighborhoods in Independence and further out.

Glad to have you in Yuma Tim. I am looking at moving back soon as well, Yuma is my home town and my parents are involved with an experienced house flipper here. Right now they've just been funding deals, but probably looking to do more than that in the near future.

Ryan, thanks a ton for the feedback. It definitely confirms both specifics for my question as well as a general consensus for flipping in general. It’s definitely not as “sexy” as HGTV makes it out to be; it seems to be a lot more about that mass appeal to sell your flip quickly and efficiently. You are definitely right that a solar roof would narrow the market that would look at your house. I haven’t done any of my own flips, but I’ll keep trying to learn more and work my way into the real estate market. Is there any chance I could buy you lunch and ask you some questions about the Phoenix market in the next few months?

Recently I was thinking about the Solar Roofs that Tesla started making, and I was wondering if there was any space for this in the real estate game? If you had to already replace a roof on a flip or rental, why not try a solar roof, especially if you could get it within 5-10 thousand dollars of the price of a new roof. I'm from Arizona, and my thought would be that this might be appealing buyers (possibly in the Phoenix area) but more specifically in Tucson, where there the demographics (professionals/environmentally conscious) would be very receptive to that kind of feature in a more high end house, or at least a house in one of the desirable neighborhoods in Tucson. 

My thought is that it would at the very least set apart your project, while also providing long run savings for a landlord as a rental or a potential buyer as a flip. Some questions to ask are definitely the financial feasibility -- are there any potential gains here? What is the cost of a new roof in these areas? I've had similar thoughts about metal roofs as they are more unique and provide an advantage in durability. At least for now, Tesla's tiles seem durable and aesthetically pleasing as well. I'd love feedback, especially from the Tucson folks, if any of my assumptions are off!

This is amazing! Mr. Money Mustache is what got me onto the entire idea of financial independence, and Bigger Pockets arguably provides one of the best ways to achieve that goal.

I just read an excellent article about AirBnb and Nashville from the Ringer. Not that this is the only part of the real estate market there, but it is worth the read. 

https://www.theringer.com/features/2017/11/21/16678002/airbnb-nashville

This is fantastic. You are all right, I was just spouting off places that I know well, but I've been narrowing down my focus just to my hometown of Yuma AZ and Columbia South Carolina, trying to do as much deal analysis as I can. I set up Zillow to alert me to every new listing in the area, and called several realtors to talk about housing prices as well. I think it would be a better idea to get some parameters set up for an MLS email alert.

As far as the Zillow estimates, what would be the best option for gauging a home’s true value? Learning how to appraise a house yourself? Asking a real estate agent? 

Thank you all for the input! I'll definitely continue to do as much deal analysis as I can, and get access to MLS as soon as possible.

So I am new to the Bigger Pockets forum and community, but like many of you it has been amazing to see the resources and education available. I'm young, 23 years old, and looking to invest by the end of 2018. I've been doing my best to analyze in markets that I know -- Arizona, Utah, Missouri, Kansas, and South Carolina, but my deal analysis has been limited to using Zillow. Is this even a worthwhile resource? I've heard on many of the podcasts that speed is of the essence in finding and buying good deals. I suppose that a possible avenue is finding neglected deals where owners may be willing to go down in price since the single family home has been on the market for so long.

An example deal I've analyzed in South Carolina:

Sellers are asking 35,000 dollars for a two bed two bath duplex, 1064 square feet.

The unit in question is supposedly already rented for 425 a month per side, is in a C class neighborhood and may need some work. 

On paper it seems like a great, if small deal. I have family in the area who could help with repairs and possibly even property management, although I would like to factor that in from the start. Is it worth it to deal with properties like this, or is the potential cash flow not worth the hassle of dealing with the area and potential tenants?

Glad to finally get my start on Bigger Pockets!