All Forum Posts by: Rocky Pe Benito

@Jay Hinrichs

That is actually a great input regarding your "word of caution.." I maybe getting a little desperate and need to push the break a bit. I like my 4-plex right now because it's in a very nice neighborhood. Sure, I paid market price for it (yikes!) but I have had great experience with it so far. Turn-key was the ideal situation for me being a brand new landlord and new to investing.

@Neal Collins

I've already presented those info. but they still want 609k for it. Their rent rolls are way below market, not even close to mine, and my property is in a much better condition. I guess they didn't care or thought I'd pay their asking price. They're probably banking on the "emotional attachment," thus I'm the perfect candidate for it. I still want the property though.

@Joseph M. 

Right now I'm just looking for any property that meets my budget, lol. I have no clue about the conditions of these properties other than photos.  Thanks for the article! That is actually very helpful with the research! 

I'm a realtor in Oregon, so I probably will need to make new contacts wherever I decide to invest in, along with a mortgage broker, property management, etc.

I haven't read the book yet, but hoping to check it out! 

@Chris Ramos

I might take you up on your offer to chat. Do you think my budget of 100k is doable in the areas you're currently investing in? I'm thinking it would probably require some or a lot of work.

I just want to expand my investing career already. Portland metro is just too crazy and it just take forever waiting for the right deal. And when that opportunity rises, it will be a bidding frenzy with 10 investors! Even if I partner up with somebody, the property will still be too expensive. Maybe, maybe not. I don't have any experience with real estate business partnerships.  

I have a 4-plex literally next to a "sister 4-plex." It used to be an 8-plex, and the two properties are literally mirror image. The owners of the "sister" are willing to sell it to me but are "comping" my property.  They want $609k for it. The average rent for 3 beds in the area is about $1350, 2-beds is about $1150. It would be cool to own the other one so I'll have the whole thing, but the price is just too much and mine is in a much better condition. I've been researching ways I can get it, such as a Master Lease Option or a business partnership with someone, but not quite there yet. 

Thoughts?

Hi Chris,

Thank you for your post!

Yes, I totally agree with you in that it will require a lot of homework investing out of state. I think it will help a lot though to know someone in that area.

Which area(s) of Michigan are you currently investing in? Average rents and property management rates in those areas?

Thanks again!

Hi Everyone,

I would like to get your thoughts on cash flowing areas right now, outside of the big markets. It's almost impossible to cash flow anything in the Portland metro area right now, and that includes the outskirts! I have read a lot about the idea of investing out of state, but I wanted to hear if any of you have any specific city/state you've had good luck with recently. I have no limitations as long as I can get some good deals that will cash flow. I'm looking for a 100k property on a fouplex. Don't laugh! : )  I was just researching New Jersey and there seems to be good deals out in that area and rents are very good.  Property taxes maybe high, however.

Any recommendation on where I should start researching?

Thanks in advance and Happy New Year!