All Forum Posts by: Justin Brin

@Matt Jiencke I will not rush to buy many properties at once. I believe it's better to start with one and learn so that you don't overwhelm yourself.

Perhaps consider moving to a rental in Texas for a few months to test the waters. In the meantime, you could rent out your house in Boston for a few months. This way, you will gain experience while learning about the market.

Once you are certain about the move to Texas, consider taking out a HELOC on the house in Boston, enough to buy a rental in TX. I believe in starting slowly, learning, and avoiding the urge to rush.

Most people who have become wealthy through real estate have done so through long-term appreciation. It's crucial not to overwhelm yourself right from the beginning.

Quote from @Account Closed:

Quote from @Justin Brin:

Quote from @Account Closed:

Quote from @Justin Brin:

Since prices in Dallas TX are lower than Phoenix AZ.  Where will you prefer to invest lower class area in Phoenix AZ or higher class area in Dallas TX?

Assuming you want to invest a max of $350-400k where will you choose and why? 

What's your goal?
Appreciation?
Cash Flow?
Tax write offs?
Build a portfolio?
STR?
Rental?
Fix & Flip?
To say you now own a propert?

What is your long term goal?

Build a rental portfolio for long term appreciation but also not to go crazy on negative cashflow.

(I currently only own in Los Angeles but looking for out of state opportunities.)

Have you looked close by, Phoenix?

What you mean?

Quote from @Josh Young:

@Justin Brin we have plenty of properties under $400k in the greater Phoenix MSA that are in good areas, so you will see good appreciation, you can get break even on cash flow, and we have a lot lower property taxes than TX.

How would be there the cashfow and appreciation? Do you have some numbers to share?

(Yes it seems like Dallas, TX has high insurance cost and higher property taxes),

Quote from @Account Closed:

Quote from @Justin Brin:

Since prices in Dallas TX are lower than Phoenix AZ.  Where will you prefer to invest lower class area in Phoenix AZ or higher class area in Dallas TX?

Assuming you want to invest a max of $350-400k where will you choose and why? 

What's your goal?
Appreciation?
Cash Flow?
Tax write offs?
Build a portfolio?
STR?
Rental?
Fix & Flip?
To say you now own a propert?

What is your long term goal?

Build a rental portfolio for long term appreciation but also not to go crazy on negative cashflow.

(I currently only own in Los Angeles but looking for out of state opportunities.)

Since prices in Dallas TX are lower than Phoenix AZ.  Where will you prefer to invest lower class area in Phoenix AZ or higher class area in Dallas TX?

Assuming you want to invest a max of $350-400k where will you choose and why? 

Quote from @Greg Scott:

To analyze deals, you don't need anything special or expensive. With Excel, any MLS aggregator such as Zillow, Redfin, etc plus some others like City-data.com you can get most of what you need to analyze deals.

I will checkout City-data.com I never heard about it before. Thanks!

What is the best software/website to help you analyze locations and deals?

If you can, can you also please post screenshots of the program to show what is the value in the software?

Given that Memphis, Tennessee, is located at the intersection of three
states, does investing in the southern part of the city, which extends
into Mississippi, present any complications?
Above is the income heat map of Memphis, TN. You can see that the south part has higher income.

Quote from @Michael Smythe:

You should look into Detroit!

You might want to follow the "Deep Dive" series we're doing on our BiggerPockets blog about Metro Detroit cities, City of Detroit Neighborhoods and comparing Metro Detroit to other hotspots investors usually consider:

https://www.biggerpockets.com/member-blogs/3094/99854-deep-dive-into-metro-detroit-cities-ecorse

Our analysis is a template you can follow for any city, but doubt you'll find this much info for any other market in the US.

So, why would you invest remotely anywhere else?

How can we assist you further?

I will check it out!

Quote from @Carlo Ramos:

I just finished school and currently have a stable job with a bit of money saved up. First time investing in real estate, and chose Cleveland since my budget fits perfectly. Currently negotiating with a seller for 2 multi family properties for $200k, all units occupied, generating around $4k gross rents. Thoughts on this deal?

If it's your first time and long distance I will only start with Single family. Once you get more experience and see it's working good for you in that area then I will go for multi family.

The numbers can look good on the paper but once you buy it you might find many not such good surprises. If you start small it will help you avoid bigger mistakes.