All Forum Posts by: Kristine O.

Quote from @Polo Vazquez:

Hey Kristine! I use to live in San Antonio and it is a great area to invest in. You have a good combination of appreciation and cash flow. I will say though, even though I lived over there I continued to invest in my hometown of McAllen Tx because it has better cash flow and I love cash flow. I find smaller towns usually do compared to big metropolises such as San Antonio. Either way, make sure you get a team you can TRUST. This way, they are not selling you jung and overcharging you for things for no reason.

Quote from @Crystal Smith:

Quote from @Kristine O.:

Hello investors.  I am new to investing.  Im starting house hacking soon and Im excited and nervous about it.  In the meantime I cannot not think about investing on another property and I want to do out of state only because I cannot afford it here in California. Im targeting condos below 100k and I have seen some online.  Which is a better area tallahassee, florida or san antonio texas? 

I'm not in a position to say which is better, Tallahassee or San Antonio.  What I can say however is that it probably doesn't matter. You have to establish relationships in either city and research before spending a dime. What parts of the city are growing fast; who are the agents and/or investors working in those parts of the city. Which condo or home owner associations have limits on rentals....  Good luck

go to every REIA meeting within a 2 hour drive and see what other investors are doing in those 'local' markets.

Quote from @Nicholas L.:

@Kristine O. if you're about to start house hacking, why not focus on that?   investing out of state without a strong team in place and strong knowledge of the market is highly risky, and those risks are often understated on BP.  it sounds like you want to buy... just to buy.  but patience is a virtue.  see these threads.

https://www.biggerpockets.com/forums/48/topics/1137397-balti...

https://www.biggerpockets.com/forums/12/topics/1111808-strug...

https://www.biggerpockets.com/forums/311/topics/1137430-insp...

Quote from @Ryan Muska:

Both areas are good, but be careful with condos. 

Sometimes they may have limits on how many units can be used for rentals. On top of that, if the association goes under litigation for any reason, it can prove much more difficult to sell the property (it's always important to have an exit strategy on a property). Remember that collapse of the condo/apartment building in Florida a few years back? Since then, the regulations have gotten MUCH stricter. 

Do your due diligence, there's a plethora of other reasons to be wary of condos.

Quote from @Kristine O.:

Hi investors. It's my first time to rent out my converted garage to ADU soon as a midterm rental. It is my primary residence. Do i need to set up an LLC for that in case issues arise?

Always recommend speaking to counsel but not sure what the LLC would do for you. If you have them act as your property manager, then the property management firm would need to be licensed, insured and bonded. Plus if you got sued, they sue the company and the person who they think did something wrong (you) - which goes to another point of over 2M people on BP and not one can share a story of when someone got personally sued by a tenant unless they did something really dumb.

I would get an umbrella insurance policy to cover you though.