All Forum Posts by: Robert Rixer

Yes very fair point. As much as I hate it, the answer could really boil down to politics. Who is going to be in charge at the state and local level and how do they compare to competitor markets.

As I'm only truly exposed to my local market, I'm curious what people think is the most undervalued major market at the moment compared to 5 years from now and WHY. 

Keep it to the top 30 major metro markets (Austin is 30th, so nothing smaller), here is the full list. https://www.thoughtco.com/largest-metropolitan-areas-1435135. Providing BP doesn't go out of business, it will be interesting to look back on this in 2029 and see who was right/closest.

Personally, I think it's easy to go with Florida or Texas city, but they appear to already have a lot of the near term appreciation built in to today's prices. I'm going to go with a dark horse and say Minneapolis-St Paul. My reasoning is Midwest cities are often overlooked, downtown hasn't fully recovered from 2020 yet and it quietly has a lot of new construction, expanding suburbs and has major corporate headquarters (Target, Best Buy, 3M).

P.S. I'm a cash-flow investor not a speculator so this is purely academic

Insurance varies wildly, especially the past year the industry has been crazy and a very tough market especially for lower end properties and in states such as CA and FL. Best to talk to someone local rather than a national forum.

Focus on deal finding. Great you have 1 good agent - now try to find more and simultaneously develop other strategies to find deals off-market. You will get a lot of reps in, build experience and local knowledge and capital and everything else will fall into place a lot easier if you are able to consistently find good deals.

Rent growth also outpaced expense growth in many markets the previous few years so you could see it as a re-balancing. These are all broad trends however, there is nothing to say you can find a one-off deal in any market environment that pencils out.

Don't do it. A true mentor should have your best interests at heart. Ripping you off how ever many thousands of dollars when the thing you need most at the start is capital, is completely misaligned. I await the day for a guru who gives their 'mentorship' away for free and only collects on successful investments their mentee makes in the future. Not holding my breath.

Curious, what kinds of entry cap rates are you looking at in places like Huntsville, Atlanta and the Carolinas?

Condo deals are rarely ever good. The probability of getting an efficient, well run HOA has got to be <10%. Times this by 15 different buildings and you're going to get shredded by at least a handful of them. Usually in the form of special assessments or ever rising dues/property taxes.

People very rarely regret holding long term. It may not be how you planned it, but you won't regret it.