All Forum Posts by: Minji Wu

@Bo Goebel, thank you, these are very helpful! I guess what I need is someone who really understands the market to steer me clear from properties whose numbers look good on paper.

Thank you for your reply @Andrew Fallwell! What would you say are the difficulties of managing a C- property? Difficult to collect rent? Hard to find tenant? High turn over rate?

Is 1.5%+ attainable for higher value properties? I'm not particularly fixated on single family although they'd incur lower cost as I don't have to pay a lot of utilities. Is multi-family a viable option in the Evansville area? What are the typical numbers (purchase price, rent to value percentage)?

If you don't mind, can you PM me some of your recommended agents? Thanks!

Hi guys

Since my local market started getting expensive so I started to look for opportunities out of state, mainly in mid-west. I was looking through southern Indiana on Zillow and then Evansville came on my radar (duh!). From the look of it it seems the Evansville area is a gold mine for the buy and hold strategy. I was mainly searching for sub-60K properties and a lot of them can be rented for 1.5%+. Is that for real? Or are there a lot of issues with these types of properties (war zone? vacancy? hard to collect rent)? What do your numbers look like in general? 

Anyway, I'm looking to connect with agents with local knowledge who could educate me about the Evansville market and send me leads. I'm ready to dive in!

Minji

@Justin Folkins, if you have any leads, can you pass on to me as well? I'd appreciate it.

@Youdo Thirakul, thanks! Apparently you are not wrong.

@Dan G. thank you, I'd very much like the contacts. I'd appreciate if you can send some deals you might come across my way.

@Chris H. thanks for your response! I'll definitely come down in person and check out the neighborhood before making any purchase (so no site unseen, haha). Ideally I'd like something that needs some work, but since I don't have any experience on that front I'm open to turn key as well if the numbers are right. Just curious, how much does W/S/G run you each month, roughly speaking for a multifamily?

@David Clinton III, thanks for the good info! I think I've looked at some of the properties on zillow south of I90 and Spokane valley and they are not exactly inexpensive, no? More like 80k+ per door?

As of now, zillow is the only source of info I got, and I think I've only some vague idea about the market. Is it hard to find 1%+ property in Spokane? Is it that these type of deals can only be found from off market? I'd love to hear what you think.

hello there! My name is minji and I'm an investor (well, sort of). We purchased a condo as our first rental property last year but in hindsight it's not a great deal. I'm located in the greater Seattle area and with the housing market here as is we felt we are pretty much priced out. That's why we are looking for opportunities in the Spokane area. 

My current plan is to do but and hold, therefore I'm seeking connection with realtors, wholesalers, mortgage brokers and property management, contractors. I'm mainly looking for multi family (preferably 4-Plex), but I'm also open to single family as well. 

Without a doubt I have much to learn. In particular I'd like to get some opinions what you'd think is a B class neighborhood here. I've read some posts saying to avoid the west side north of i90. 

With respect to rent, it seems to me roughly the market is like 

Studio: 500

1-bedroom: 600

2-bedroom: 700

Does this look about right? 

Thank you

Hi there, first time landlord here. I'm pushing our condo to the market and I've received quite a few inquiries. My question is, do I screen them one at a time or can I screen multiple tenants at the same time? I've always assumed that you should screen one person at a time and if he/she doesn't quite meet your criteria, you move on to the next applicant. Or is my assumption wrong that you can screen multiple persons at the same time and pick the one you like the most?

What would you do?

Thanks!