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All Forum Posts by: Patrick G.

Patrick G. has started 3 posts and replied 21 times.

Originally posted by @James Wise:

When people speak to Clayton Morris he is incredibly convincing so you get doubts about his level of involvement.

They are called "con-men" for a reason.

Like at least one other person here, I happened upon his Youtube channel and found him to offer what still appears to be all kinds of decent advice. 

I then took a look at his website which seemed a bit sketchy(no real info), and thankfully checked here for any mention of his business as I had been contemplating contacting him.

Crisis. Adverted. 

Thanks to you and all of your efforts in exposing him. 

Post: Good markets close to CA

Patrick G.Posted
  • Oakland, CA
  • Posts 21
  • Votes 8

Thanks @Tony Lin, that might work. 

Post: Good markets close to CA

Patrick G.Posted
  • Oakland, CA
  • Posts 21
  • Votes 8

Note to self: Become one of @Jay Hinrichs vendors.

Post: Good markets close to CA

Patrick G.Posted
  • Oakland, CA
  • Posts 21
  • Votes 8
Originally posted by @Jay Hinrichs:

first trip will cost you the first years cash flow.

annual trips will cost you about 50% of your cash flow.. so important to pick a place and scale there so your trip expenses if you being honest with your self is spread over many doors.. 

Great point Jay, thanks for making it.

Post: Good markets close to CA

Patrick G.Posted
  • Oakland, CA
  • Posts 21
  • Votes 8
Originally posted by @Tyler Jahnke:

Welcome @Patrick G.! I'm also in the Bay Area!

I've been investing out of state the past few years. Started in the Midwest (Indianapolis and Louisville) and now focused on Phoenix.

To answer your question, Phoenix is a great market that's a quick 2 hour flight direct from Oakland International. Pretty affordable flights too with many flight options. Also:

-Fastest growing city in the US last year (population)

-5th largest city in the US

-Still very affordable cost of living

-7.7% rent growth last 12 months

I'd ask, how often do you plan to visit the market anyways? The fact that you're looking into a turnkey company shows that you want to be pretty hands off and at the end of the day distance really shouldn't matter too much.

The key is to have/build a strong team on the ground. Best of luck and reach out with any questions!

-TYLER

Thanks, I used to work for a company based in Tempe so I was out in that area a bunch although wasn't driving the neighborhoods.

As to how often I visit I'm envisioning at least a couple of trips initially to meet people I potentially want to work with/view properties/etc. and then if I want to do a property a year or so at least once a year and that's being somewhat optimistic assuming that every time I look at a set of properties on a trip I am going to find something to buy.  

Post: Good markets close to CA

Patrick G.Posted
  • Oakland, CA
  • Posts 21
  • Votes 8

 Thank Mike, will take a look. 

Post: Good markets close to CA

Patrick G.Posted
  • Oakland, CA
  • Posts 21
  • Votes 8
Originally posted by @Elias Valdez III:

@Patrick G.

I’m right there with you California is on crash course, it’s getting way too regulated here. Are you looking for cash flow?

 Yes cash flow investing is definitely what resonates most with me. 

Post: Good markets close to CA

Patrick G.Posted
  • Oakland, CA
  • Posts 21
  • Votes 8

Arizona might work if I can find a provider with the right deals, thanks.  

I'm not terribly concerned with being close to the property BUT I am not working with anyone without meeting them in person and I am not buying anything without seeing it so that in itself is a couple of trips. Also my goal is to do a purchase every 1 year or so going forward (BRRRR) so the trips begin to add up...

I have negative interest in investing in anything in CA given the current course it is on. 

Post: Good markets close to CA

Patrick G.Posted
  • Oakland, CA
  • Posts 21
  • Votes 8

I currently reside in CA and am looking to start doing out-of-state investing with a turnkey provider. Given free cash my plan is to start out modest (SFRs in the 100k or so range). I also have a more than full-time job so my ability to visit the market(s) I'll be investing in is somewhat constrained. While I see lots of great opportunities with providers here in places like OH, TN, etc. I am looking for good markets that aren't a 7+ hour flight away.

Suggestions welcome!

Post: Using 401k to purchase retirement home early

Patrick G.Posted
  • Oakland, CA
  • Posts 21
  • Votes 8

Here's an alternative: roll the 401k into a Self Directed IRA, find a house you want to eventually retire in, buy it and cashflow it until you are ready to retire.