All Forum Posts by: Michele Velazquez

@Michele Velazquez

Memphis Tends to offer something for everyone that is looking to invest in an out-of-state market. 

- good cashflow

- decent appreciation

- lower entry prices 

I would be more than happy to help answer any questions about Memphis for you! 

@Michele Velazquez

Houston, TX and the surrounding areas have steady income growth and quality tenants.

Everyone has a different set of goals and investment criteria, so this is not a one size fits all kind of situation.

A local Investor-Agent can help shorten your learning curve and save you a lot of headaches as they tend to understand the market better.

You can also use Niche.com, Greatschools.org and Msc.Fema.gov for your research.

Good luck!

What are your goals? Cash Return? Appreciation?

You need to understand what risks you're willing to take to get there, then look at macro economic data that supports your goals. Connections, travel, etc.

There are a thousand markets that could fit your needs, but your profitability will depend on YOUR deal, much more than whether you chose Dallas or Columbus to invest in.

Quote from @Michele Velazquez:

I have decided I want to invest in a multi-family triplex or duplex. I live in So Cal so I prefer to invest out of state, but what resources are there to help you pick from one of the thousands of cities in the U.S.  Any advice, tips, or resources for me to dive in there and pick the area I want to invest in?  I feel like I am looking for a needle in a haystack!

It does not matter where you start as long as you develop your Core 4. The core 4 is David Greene’s long-distance investing strategy and consists of a realtor, contractor, property manager, and lender. Once you have this team in place, you should be able to invest in any market confidently.

As for picking a specific market - I would go after one with an increasing job and population growth. I invest and work in Columbus, Ohio. I am also looking to invest in Cincinnati and Cleveland.

Look at Ohio. If you're looking for appreciation, Columbus is growing fast. A lot of companies are moving here to take advantage of the lower cost of living. 

https://www.reuters.com/busine...

For cash flow, Dayton has been a good market for real estate. 

@Michele Velazquez have you ever lived anywhere else? I am hesitant to star investing in markets I don't have an inside edge in. Either have a partner there or go for places you know well IMO.

Quote from @Michele Velazquez:

I have decided I want to invest in a multi-family triplex or duplex. I live in So Cal so I prefer to invest out of state, but what resources are there to help you pick from one of the thousands of cities in the U.S.  Any advice, tips, or resources for me to dive in there and pick the area I want to invest in?  I feel like I am looking for a needle in a haystack!

 I think it is important to look at population growths and where are companies choosing to set up shop? They pay people a lot of money to identify the best place for their business to set up shop. 

I personally recommend Columbus Ohio. With big businesses being in Columbus such as Intel, Amazon, Chipotle, the Limited, and more. We have seen people flooding here. I think now is a perfect time to invest here and I help multiple clients every week get incredible deals. This article states the stats and trends for Columbus, https://learn.roofstock.com/blog/columbus-oh-real-estate-market.

A couple good questions to ask yourself:
Do you plan on using a management team or self managing? 
What price points are you looking for?
Are you investing for cashflow, appreciation or a mix of both? 
Is the market landlord friendly? 
Best of luck with all your investing! 

@Michele Velazquez 1)  consider getting pre approved with a lender  for a  hypothetical  scenario - this might help with narrowing down the   prices you can  qualify for  2)   Do you want to  live in the  property  or   do you want to  continue to live in socal and  make this a  100% investment prop ?

Hi @Michele Velazquez, first you have to determine your non-negotiables.

Is cashflow on day one a priority?

Is a market with strong population growth important to you?

The first step is determining which your non-negotiables are and then once you have those, you can narrow down the list.

Hope this helps! Let me know if I can be of any assistance.