All Forum Posts by: Kyle Marek

@Caleb Heimsoth

@Jay Hinrichs

@Will Gates

@Eric Bilderback

Thanks so much for the responses! Yes the one aspect of David’s book that sheds doubt on the whole process for me is the rehab part. The long distance rehab, especially for a beginner, seems too risky.

I was definitely hoping to take more of a turnkey approach as some of you have mentioned! The turnkey approach is still possible using the same “team members” process isn’t it? Deals for buy and hold and cash flow in my backyard seem like they would be very very tough and expensive to come by....

Like many who have read David Greene's book "Long Distance Real Estate Investing", I am interested in out of state investing for buy and hold rentals for cash flow. I live in California in the East Bay, where housing is extremely expensive, multifamilies are rare, and cash flow is tough to come by.

The point of this post is to ask if anyone else has read this book, and is in a similar situation to me? I'm ready to go into a deal right now, but nervous to venture out on my own. Is there anyone out there who could give me some advice on how they started out of state investing? Anyone who is willing to partner on a deal, or at let me observe their process for a purchase? I'd like to contribute in any way possible to make it mutually beneficial!

@DJ Dawson

Thanks DJ! Appreciate the input. Will look into your advice

@Chris Vail

Thanks for your input. I agree my expenses could be low from looking at the state of the propety. I just know rates in Sac are booming right now, but this area is not the greatest. 

I did not look into the $50,000 increase, although I know how to find that info on the listing page. 

The rents are probably a little too high. I got them off of the property listing, but would probably be better to check with a PM company? 

@Brent Coombs

Just the average CA interest rate for the previous week I used. I raised to 4.5% and still like the numbers.

@Alexander Felice

Understood. Appreciate the advice. You're right, self managing can only work for so many properties. Once I scale I will look into PM companies long and hard.

@Account Closed

Thanks Russel! Sounds like you have a great management company. I like that they have their own maintenance staff and you know they are not over charging. 

My time is very important to me as well. I guess I will have to see if self managing is eating too much into my time or not, then go from there.

@Dawn McGee

I like to hear using a property manager go so smoothly for someone! Especially their first rental, and especially with it being out of state. I'd like to invest out of state as well.

@Anthony Angotti

Thanks, Anthony. I of course would love to buy close to me. But two issues I'm seeing: one is my area is the East Bay Area mostly A and B class neighborhoods, not many multifamilies. They are also very expensive...

Second, I'm young and don't plan to live in this town forever. I would like to move in the next year or two. 

Any suggestions or advice much appreciated!

@Brent Coombs

Which rates do you mean?

I do not plan on living there. I got the rent rates from the property listing, but rents are pretty high in the area. Pinpointing exact comparables is something I still am working on. 

the average vacancy rate for Sacramento is just under 4%.

This property is similar to other multifamily that I've researched, just cheaper! It's why I'm suspicious about the price.