All Forum Posts by: Nate Burgher

@Omar Khan, thank you for the quick response! A couple answers to your questions.

I'd be bringing about $100k to the table this year with the goal to purchase 1-2 properties (MFH and/or BRRRR), with an additional $30-$50k each year to continue purchasing properties. The ultimate goal is to have an additional $6k / month in cash flow by 2025.

So not bringing a ton of capital, relatively speaking. $100k doesn't go far in Olympia (average SFH is $200k-$325k, duplexes $325k-$500k). I've researched Harrisburg (PA), Philadelphia, Cincinnati, Cleveland, Phoenix, Spokane (WA) and Kennewick (WA) quite a bit. My dollar goes further in all of those places when compared to Olympia, obviously much further in Ohio.

One of my thoughts is in Ohio, I can pick up 2-4 MFH's, and maybe at that number of properties it might make sense if I can find a decent property manager, as each property would cash flow $250-$500 after all expenses. Or I can pick up 1-2 SFH BRRRR's in Spokane / Kennewick this year (4-5 Hour Drive), and each property would cash flow $0-$150 per month, but with little to no capital in the properties.

When you go to invest out of your local market, would you choose a market that's a 5 Hour Flight away, or choose a market that you know much better but is 80% as good that's a 5 Hour Drive away?

I'm currently invested in my local market of Olympia, WA (1 hour south of Seattle) and am looking to add at least two more properties this year. Currently the Olympia market has become a little too expensive for my taste, good returns are becoming tougher to come by. I've never invested out of my market before, but have trustworthy investor contacts in Philadelphia, Phoenix and Eastern WA. My interest in OOS investing has grown exponentially over the last few months, and I'm curious if you think a drive is better than a flight for any specific reason?

Hey Daniel, try uploading that document in a different format, JPEG maybe?

As for property insurance, I have a 1BD/1BA condo rental, pay about $20 / month. That doesn't cover rent loss if there's damage to the property and vacant during repairs though, that's a premium.

What are the specs of this place?

Hey @Naomi Pinger, bummed I missed this one (new to being a Pro member, long time lurker of BP). Do you know when the next one will be? I'd love to attend!

@Jake DeAtley, what ended up happening with this property? I see it's been re-listed a few times since you posted, and it's currently pending. What did the inspection find?

@Scott Egbert, do you find a 5% vacancy to be normal in downtown Hoquiam and Aberdeen as well? What type of tenants would one be dealing with there? Obviously since the logging industry went down the crapper, the main industry there seems to be retail? Who else might I be renting to in that area? Thank you for your time!

@Candice Rambo, great to see you on here! Did you end up purchasing either of those apartment complexes?

Hey Aaron, thanks for organizing this! I've followed the FB page, how often do you guys meet? I currently live in Olympia but am looking to expand into other markets that I'm at least semi-familiar with (lived in Spokane for a couple summer stints), and Spokane is at the top of my list.