All Forum Posts by: Nick McCandless

@Nick McCandless are you looking to do a buy and hold with partners or to just own it solo? The Midwest has a lot of turn key properties that are in expensive.  I live part time in California and part time in Arizona and I like investing in Arizona because it is landlord friendly rather than tenant friendly.

Use that money as a down payment. You don't need to have the purchase price ready to spend in order to buy a property. But partnerships are one of the best and most popular financing strategies with almost all investors.

i also live in an expensive area NYC. a lot of investors i know invest in cheaper states and they do very well! for $150k you would be suprised at what you can get! 

i have been in Real Estate for a while . i am a landlord here in nyc. if you want you can contact me through bigger pockets and we can discuss what options you have (maybe ill be interested in investing with you!!) anyways good luck finding the right properties for the right amount and finding good investors!

Hey Nick! Just up from you, in LA (Venice). I've always done buy and hold and done them out-of-state for the obvious stated reasons.

Are you leaning towards residential or commercial? All of my properties are residential but I've more recently been looking at some commercial options (storages being one of them). Commercial is the same as residential as far as CA not doing you any favors. Just because the land is more expensive, it cuts the returns on the commercial buildings. Like if you do a NNN deal (like a fast food restaurant or something), you can buy the same thing outside of CA and automatically receive higher returns on it.

Let me know on residential vs. commercial and I might be able to offer some advice. If you have $150k, you can either put that full amount towards a commercial property or you can split it up into several down payments on cash-flowing residential properties. The returns (if you buy right) will likely be higher on the residential properties, but there's of course some advantages of going commercial and having less hassle. 

Let me know, happy to advise.

Hello @Nick McCandless

Their are so many markets out there. It is definitely harder to find multi-family here in SoCal that cashflows at a reasonable return. One thing you have to consider is, what kinda of returns are you looking to get? What type of tenants are you looking to serve? Do you want cashflow or a combination of appreciation too? Are you open for lower income section 8 housing? You can do a BRRR strategy on a nice vacant apartment building. Some midwest markets are booming, but you have to be careful of course. We buy and hold for cashflow in Indianapolis and Midwest. Will be happy to chat some more!

@Nick McCandless  The buy and hold approach is great to do also.  Being able to collect a monthly cash flow and down in the line you have equity paid down to your advantage to help in different ways financially.

Hi Nick,

There are many different options you can do that is more affordable here in Arizona and with getting good returns on your money.  Two options that I have been analyzing deals on is with flipping houses and buy and hold (rentals) here.  Depending on what areas of Arizona there are people that are making very decent returns from flipping houses. 

@Nick McCandless

Arizona is a good choice considering your location. Decide which kind of investor you want to be (SFR, Commercial, Land, Tax Liens, HML, Multi-Family, Notes, Fix & Flip, Buy & Hold, "Subject To", apartments, duplexes, assisted living, REOs, Foreclosures, Short Sales), etc.. Decide how much money you have access to, & the zip codes, city or state you want to focus on. That will determine the next step. Outline where you want to be in five years. Put it all in writing. Start working your plan. There are plenty of people around to help you each step of the way. Drop me a line if I can help.

Id avoid California to START with.

For high cash flow, look in different states nearby, preferably in cities with a population of 40-75,000 people in it.