All Forum Posts by: Josh V.

Sorry I will also add to the question above.  With good credit and able to put at least 20% down.

General question.  Those of you that are using traditional banks for loans what types interest rates are you seeing?

For those that buy and hold single family I am looking for input on two questions in regards to financial measures.

1.  What are some of the key financial measures you look at when buying and what is your target number with that?

2.  When it comes to cash flow I understand that cash on cash return is important but do you ever buy a house with less cash on cash return knowing that you are going to have more equity right off the bat.  Ex. just over $200 cash flow per month, list price $129k, estimated updates 5-10k, comps for the house are all around 150k, cash on cash return would be 6-8%

What are others opinions?

There are probably more opportunities on the Missouri side but I have a SFR on the Kansas side in a desirable area that I have been able to keep quality tenants in. It cash flows but not as much as those on the Missouri side. It is more difficult to find opportunities for good deals in Kansas. The link above is a great guide for zipcodes.

You could also use a combination of a site like rentometer, Craigslist, Zillow, property manager, and an agent may be able to get you rental rates as well.  Rentometer is more accurate in some areas over others.  None of these seem to be perfect on their own but if you use multiple sources you can usually get a good idea.

Thanks @Carolina E. and @Mitch Messer.  Good to know that Rentometer is free.  I may do the same and combine it with sites that have current listings.  I have a property manager that gets me some numbers too but sometimes it takes them a bit to get back to me.  

I know there are many different ways to get rent estimates for a single family but has anyone used rentrange or rentometer?  It seems that they may be a quick way to get comps and rent ranges.  Want to get some opinions before I pay for either.

Thanks @Amy Ranae.  

Thanks @Christian Rasmussen.  I would be open to trying to meet at some point.

Thanks Amber.  I like the quote.

I am looking forward to networking with those in the area.

Hello BiggerPockets.  I am from the Minneapolis area and have lived here for 3+ years.  Originally I am from Kansas City.  My experience in real estate thus far is with the house we own and rent in Kansas City.  We lived in it for almost 5 years and decided to rent it out when we moved to Minneapolis.  These are the cities that I am looking to invest in since they are the ones I am most familiar with.  To start I am looking to get into single family houses and like a lot of buy and hold investors I am looking to replace current income.  I have always had an interest in real estate and am ready to get serious about it.  Working in finance with a mutual fund company has been great but it can be tough when your job, income and investments are all closely tied to the same thing, the stock market.  I read a lot and have listened to a lot of the BP podcasts and like how creative one can be in real estate.  There are many ways to be successful in real estate and I am excited to start carving my own path.  I will close it out with one of my favorite quotes:

"Nothing in this world can take the place of persistence. Talent will not: nothing is more common than unsuccessful men with talent. Genius will not; unrewarded genius is almost a proverb. Education will not: the world is full of educated derelicts. Persistence and determination alone are omnipotent."
-Calvin Coolidge