All Forum Posts by: Richard Layson

@Justin Whitfield, advice: buy what you know.  If you are investing in your market, stick to areas you know.  If you are investing out of state, learn the market inside and out.  With the prices these days, you don't have room to miss the mark.  Second piece of advice, have more capital available than you think you will need, typically by a lot.  A turnkey property can still have a big repair come up the day after closing.  

As for websites, it depends on your size. In my market, just about anything 10 units and smaller goes on MLS. There are occasionally some that appear on Loopnet. There are others, like Crexi, that seem to be less common in my market. Then the brokers have their own sites, i.e. CBRE or Cushman or Marcus and Millichap. In my market, the broker specific sites tend to be in the near $10mm range and larger, but they will occasionally post smaller deals.

Out of state is fine, but certainly adds its own risks.  You are less likely to know the intricacies of the market, harder to monitor the asset, more costs associated with travel to the asset.

Well, I live in the Bentonville area and am in the process of building a STR in Branson on Lake Taneycomo. I think both are great and am continuing to look in both places. Broken Bow is nice as well, but prices are insane there.

If open to the region in general Broken Bow Ok is on fire but prices are insane. I don’t necessarily sell there so that’s not why I say it, it’s just a cool area honestly. I vacation there every few years and would love to own something there at some point in time.