All Forum Posts by: Account Closed

@Erin Onsager are you looking to sell?

@Nathan G. Accredited is either or. That may be too hands on living in the larger building but all options are on the table.

@Taylor L. Thank You. I need to find out more about various syndications and their monthly cash flows to investors. I did see the recent one that Brandon Turner is behind with array apartments.

Hello everyone. Been doing a lot of research, reading and listening to all the podcasts available and deciding what to do as I plan to be overseas in a year or two. I am out of a job as I sold the properties that I managed the last 6 years (2 hi rise mixed use buildings). I am ok at the moment as I do not want to go back to a 9-5. I have capital, equity on my residence, low debt, I am looking at multiple pathways, I am looking at either

1. getting a bunch of OOS SFRs to have cash flow for my lost income

while I’m overseas. I worry I will be too dependent on these and make some big mistakes as I’ve never done OOS investment before. How can I make these flawless? Where can I get good information on markets? After being so hands on I have a hard time letting go to a property manager and not seeing the asset with my own two eyes. Researching on markets not too far from northeast such as Columbus, Ohio parts of Pennsylvania, possibly New Hampshire and Rhode Island as well but they are quite expensive. Even looking at Worchester, Fall River and Lowell but I’m not feeling them.

2. Apply for a low money down FHA loan and house hack into a multi family appreciating asset in a hot market in MA. The cash flow will be rough. But banking on appreciation as I will be holding for the long term. I stay for a year or two before moving overseas and it may get us packed up and ready before hand, but moving my family around a few times sounds awful. Does an FHA need income to qualify? I have lack of income now and wife is self employed with sporadic work due to school. I will be hopefully getting some passive income in a few months through a commercial NNN lease deal where I have 20% share of. It's not much but I hope it's enough to get qualified for an FHA loan. After moving I'll have an appreciating asset and cash flow down the line.

3. Whenever I move out of my current residence either in the house hack or overseas I will rent out my current primary which will definitely cash flow and then sell within 2 years to take advantage of the capital gains exemption. I will use that to buy another property either overseas or in the states.

If you were in this scenario which would you choose to invest while overseas? House Hack an expensive entry to market yet historically appreciating asset or OOS cash flowing SFRs? What is less risky? What are my exit strategies for both? What are other cash flowing investments I can consider?

Appreciate your thoughts

@Lana Friedland hello I’ve seen some turnkey properties in Odenville as well. How as the investment been for you? I’m in the northeast as well and would be an OOS investor. I just have a hard time wrapping my head around something out of state

@Mason Hickman any success finding one?

@Omid Sadeghi who is your tenant pool? Ask yourself what do you expect in a rental you are living in. Don’t be cheap. BEHR white paint is inexpensive. Nor is patching small holes. A solid door will last longer than a hollow one. Rent proof the unit so down the liner you don’t have to do much. What is the budget you set aside for a turnover. If you train your tenants well and have rules in place and follow through you may not have to do much when it turns over.

@Darren Redfearn do you have a real estate lawyer that is reviewing the leases and handling the closing? Don’t get caught with a tenant that won’t be moving out. You don’t want to go through eviction process in MA and also if they are definitely moving, get some proof they are. I’ve had to get Estoppels for commercial tenants not residential before but get an exact copy of the lease and even do a tenant interview to make sure they have the same copy. This is your due diligence period. Leave No stone unturned.

Looking for some markets in MA. Generally very tough with the cost of properties. Looking near colleges, near major highways, major hospitals and access to Boston. Seeing a few investor profiles here in MA. I want to stay in MA but considering looking in RI and New Hampshire. Want to start small and work up. But with recession coming up I’m preparing for opportunities

@Jessica Tomlinson I have worked with Velocity Plumbing out of Quincy.