All Forum Posts by: Michael P.

4.) Don't buy in the hood. Aim for at least median price. Personally we buy in neighborhoods that are slightly above median, which does not look great on your cash flow spread sheet, but it works much better over the years, financially and for your sanity.

@Alyssa Dinson

I grew up north of San Francisco and moved out to Reno, NV to live and invest. People are still sleeping on it! 

I'm obviously bias now, but I've been investing in Reno for many years prior to becoming an agent. 

We're right next to CA but get the benefits of no state income tax, 4th lowest property taxes, much more friendly landlord/tenant laws, no serious weather, proximity to Lake Tahoe, stable job growth/population growth, etc. 

I still have family in CA however so I visit often, and investors can drive to their properties if needed from Northern CA.  

It doesn't make sense for everyone as we're not a cheap market, but I'm always surprised how many people from CA never even consider it! 

Whatever you decide, best of luck to you! 

How current is this data?  I spoke vis-a-vis, with this person 6 days ago. She told me that it is not being enforced.  She is the chief enforcement officer.

This past July I had my first single-family home in Toledo approved for a Community Housing Voucher, i.e. Section 8. The three bedroom, 1.5 bath is grossing $1400/month from the Lucas Metropolitan Housing Authority. It is in a C-neighborhood. My all-in acquisition costs were about $20k. That includes all of the purchasing costs plus renovations. After paying the monthly, full mortgage component, I am grossing about $730/month. Break even on acquisition costs in 28 months while government is funding my principal, interest, insurance, taxes, and PMI.

That's a pretty good return, right?  

The major, major issue here in Toledo is the Lead Safe initiative. Enforcement is halted by a court order. If that changes, and I have to install a boat-load of new, piece-of-crap vinyl windows, the entire ROI will change. Heck - the entire rental market for <5 units in Toledo will experience significantly decreased liquidity and availability.