All Forum Posts by: Kalen Jordan

REITs sound interesting but whenever I look one up they are always so volatile compared to the rental market (vacancy rates, rents). They're basically just like the stock market.

If I could get into a REIT with 8% to 10% returns without volatility I'd probably go for it.

Checking out quantmaps (shout out to @Art Perkitny) here to pull up neighborhood level data on a property that I saw on the marketplace in Indy:

https://www.biggerpockets.com/real-estate-listings/indianapolis-sfh-for-sale-rented

It's interesting how it grades the neighborhoods. You can see how median home value is going down in one neighborhood (the one where the property happens to be) and there's a neighborhood just next to it where indicators are going up (property value, rents, etc.)

Can anyone familiar with these neighborhoods confirm whether this looks accurate?

I'd love to get recommendations on awesome property management companies (located in cash flow markets).

The kind that require little to no micro-management, that treats tenants well, have low vacancy rates, and decent fees.

I know most of the time people are looking for a PM in a particular market, and I've already dug through a number of those threads.

A lot of the times when I get a recommendation for a PM I can relatively quickly find not-so-stellar feedback on them here on the forums or elsewhere. 

I've seen some people say you just can't expect very much from PMs. I know there's no such thing as perfection, but I'm holding out hope that there is a truly awesome PM out there, even if they charge a bit more than the standard.

Since I'm not tied to any market, I'd be more likely to go with one market over another (assuming it's a nice cash flow market) depending on the quality of the PM there. 

Would love to hear recommendations!

1. I don’t think the ads need to subsidize the product itself. The pricing is already at a premium.

I very much doubt anyone at BP needs the money - that’s the other thing that’s a bit confusing about this.

2. Definitely happy for BP to make money as well - but generally speaking product companies are more effectively monetized through their product vs. through advertising.

3. Yes I can see why sponsors like the opportunity :)

Agreed the ads aren’t badly placed - they’re well done. I just wonder how much trust I should be placing in them. For example, on the Tim Ferriss podcast he heavily vets products and you can trust that if you buy something that is advertised it’s something that Tim personally vouches for. I think that’s a good standard for a podcast to have for ads, especially when they can afford to have that standard.

If Brandon is saying “fundrise is the future of real estate investing” not because he believes it but just because they’re paying him to say it, that’s diluting his credibility. 

And for what? He doesn’t need the money clearly.

Or if there's an ad for a turnkey operator who isn't really among the best turnkey operators - is that really a net win for BP/the community to have the ad up?

@Linda S. thanks that makes sense re: the registry. That’s a very interesting note re: Richmond area. Is that the kind of thing that a good property manager in the area would be aware of as well?

@Ryan Proffit got it thanks for the heads up

@William Wright thanks appreciate the feedback. Definitely working on identifying really good PM companies that I can get this kind of feedback from. Any recommendations in the KC area?

@Jay Bell that’s a big part of what I’m working on figuring out / vetting. If I had a trusted agent/PM at this point, I probably wouldn’t need to be doing any research and could just go off of what they say.

This particular neighborhood was from a turnkey provider that I was leaning towards, but kinda leaning against now.

@Caleb Brown - got it thanks, that’s helpful. I also did some searches for pawn shops and cash checking based on an article by brandon turner on grading neighborhoods. Pretty sure it’s a C.

Well I had been leaning towards TK pretty heavily because I’m new and wanted to minimize the risks I would face. That said I’m spending probably more than the average TK buyer doing research, so either I will go all the way and put together a deal myself or I’ll get fed up with it and give up, as I’ve done several times over the past decade. :/

@Bryan Deuel - DM’d you

@Rich Kniss - got it thanks. Yes I’ve been looking at tons of reviews on turnkeys and asking around a lot. This particular property was for one of the turnkeys who had the most positive reviews and pretty much zero negative reviews (also a BP podcast sponsor)

@Jonathan Oh - got it yeah wasn’t really drawing a comparison other than just neighborhood grade based on another set of pictures I had handy.

@Caleb Brown I’ll DM you

@Mike D'Arrigo - thanks. Yeah it’s funny from some angles the neighborhood looks pretty decent (like the last photo) but from other angles not so much.

I’ll DM you the details.

This is from a listing that I saw from a turnkey provider that described the property as a B neighborhood.

I took a few screenshots from google street view. I'm curious if this would be considered a B neighborhood based on these pictures. From some angles it feels like a B to me but from others it feels like definitely less. But I don't know the market very well which is why I'm asking.

I know that "B neighborhood", "C neighborhood" are terms that get tossed around a lot and there isn't exactly an objective definition for them, but just hoping to get some feedback.

To contrast, here are some photos from a completely different neighborhood in Texas that I happened to be looking. This definitely feels more like a B (or an A?) to me just from a gut feeling:

Thanks that makes sense. I checked crimemapping.com it says "No data provided for this map extent". I also tried searching near my home and it says the same thing.

So weird there isn't better crime mapping. Even just something like per-capita-adjusted violent crime map version of trulia's map would probably be so much more useful.

The 4.5% to 4.9% dividend doesn't look very impressive - this is with the most cash-flow-oriented option selected. Thoughts?