All Forum Posts by: Justin Vogelgesang

Looking forward to it!

The market YOU are most familiar with, is where you should start. You'll know what numbers investors are looking for in certain areas and you should be more able to recognize a good deal then

@Carlos Hernández if you're in Dallas and have $50k to invest, you can certainly find an affordable area nearby and likely qualify for a hard money loan. Feel free to reach out if you need help or have questions.  

Outmigration from Texas dropped around 50% for 2022, and 2023 is still TBD of course. It has remained at the top for inbound migration for longer than that though. So Texas seems to be one of the most promising markets for the years to come I think. With all of the appreciation in the recent years, it's difficult for rent rates to keep up so there is a natural lag there. 

Would you be managing the property yourself? If not, then some other areas in TX would be far more feasible for rentals and you wouldn't have to resort to out of state then. 

Is there a particular reason you're only considering those three locations? With appreciation in mind and wanting the highest return on investment, I would recommend Fort Worth, or some of the mid-cities as an alternative. Like previously mentioned though, if you have a trustworthy network established somewhere already then that should certainly be one of your top choices. 

Creating a substantial amount of passive income through rental properties is a long-term play (not advising against it though). I would recommend familiarizing yourself with the BRRRR method, if you haven't already. Understand how to build equity and use it as leverage.

A few things to consider: How much time do you have to commit to an investment? If you go with rentals, would you hire a PM or manage it yourself? Determine what your specific goals are, you may find that flipping or wholesaling real estate will provide the extra income you want. 

Fortunately, Texas is one of the top markets so there is plenty of promise for a successful career in real estate investing!  

I'm mostly watching north central Texas, but I think Florida and North Carolina have a lot of potential as well. 

@Calvin Baughman one isn't necessarily better than the other at face value. There are a handful of factors to take into consideration for each deal you analyze, like market conditions, local STR regulations, interest rates, etc. There isn't one golden strategy to lead anyone to the light, per say. Determine the market that you want to invest in long term and from there, see which strategy will be most beneficial.

@Jesse Scheidel I recommend doing your research on the Census Bureau primarily   

@Ismail Sogbaike ask them for a proof of funds. A serious investor will not typically withhold that information if they're claiming to be a cash buyer.