All Forum Posts by: RONALD HENRY

Quote from @Robert Williams:

@RONALD HENRY I think the key when starting out is staying close to home, and getting off-market deals. Why not use that $100k and lend it to another local investor? The BP podcasts always talk about hard money being leant at 10-12%. Might work out well for you. Hit up a local REI group, tell them you have $100k, and what you are looking for and I'm sure you'd get some instant partnerships and potential deals. Unless you have a team in the OOS area you wish to invest in, it may prove a bit difficult to manage, hence why the absentee owner list is the most pegged list. Wishing you the best in your real estate journey.

Thanks for the input. Never thought about hard money lending. Yes I do not have a team yet established for out of state investing and that could prove to be difficult. Hopefully I can  establish network connections on bigger pockets that can help in my journey.  

Quote from @Chris Smith:

@RONALD HENRY Great question ! I am also in the NJ market , which a lot of sellers are very steep on pricing at this time . There are some deals in our area in your price range . The real question is , how much are you looking to cash flow per month ? Feel free to connect with me . I may have some deals you may be interested in !

Thanks for your reply Chris. The New Jersey market is red hot. Using the one percent rule I would at least like to cash flow a couple of hundred dollars a month as I figure appreciation is high in certain neighborhoods. I will DM you. 

Quote from @Drew Sygit:

If you're okay with the Midwest, you might want to follow the "Deep Dive" series we're doing on our BiggerPockets blog about Metro Detroit cities, City of Detroit Neighborhoods and comparing Metro Detroit to other hotspots investors usually consider:

https://www.biggerpockets.com/...

Thanks for the correspondence.  I'll check it out.

Quote from @Bruce Lynn:

Quote from @Laukik Hoshing:

@Bruce Lynn what TX areas are good for LTR? I recently started looking at Austin market. Is it good for long term rentals that can give positive cash flow (or self feeding)?

Cash flow is always a function of how much money you put as down payment vs loans.
Many people think market in Austin is not ripe for rentals at this time.  Prices high and while rents are going up, probably not as fast a housing prices.
So more of an appreciation play probably vs cash flow.

I think most of the people in the know or experienced here on BP would say buy on the edges of any of the big Texas markets.  DFW, Houston, San Antonio, and even Austin or El Paso.   I'm in DFW area so I usually say draw a big circle around DFW and invest in the path of progress on the outside of the circle.

Awesome. I'll definitely look into the surrounding areas of Dallas. Thanks for your input. 

Quote from @Bruce Lynn:

I would say look at the areas just outside the major metropolitan areas in Texas.

Cash flow is often a function of how much you put down, so I would put down here about 30-40% so that you can get cash flow.

There are some decent newer single family properties about $225,000 or so 3bed 2bath 1car port or 1 car garage.

 Thanks for your reply

Quote from @Marvin Von renchler:

Follow the weather patterns and job opportunities. Where are people going? For example, Portland OR is a major destination. We are being over run by Californians and other staters because of weather, politics, jobs availability. Rents here are astronomical. A s this started a few years back, one could buy almost anything and it would cash flow. Of course with low low supply and huge demand, we have taken pricing to the moon. Rents are crazy---up to $2000 for a small 1 bedroom but that only helps those who have owned the house for years.Our inventory is so low, you have to bid for a property IF you can even find one for sale.  An old investor once told me: "Marv--they aint making no more land but they sure as he** keep makin babies" So naturally everything will eventually go up in areas in which people WANT to live. You have to play with trends. Oregon is too late. People are leaving Calif. Texas is going insane and probably 1/4 of its population is recent southern californians, LOL.  What areas will be vacation destinations for all these new warm bodies in any given town/city?  A beautiful little southern Oregon town used to have nice little homes tax assessed at $5,000! As people came in from out of state throwing gobs of cash with higher than asking offers, and many were retired with large incomes, I knew that town would explode for vacation and second homes but didnt go there to do anything---my loss!! Noone ever thought it would be worth t to buy a $5,000 house there---there was no industry. No jobs. The lumber mills had closed.  This is the type of thing you should look for. The other way is to hunt and hunt until you can find a hardhip seller and steal it from them. Follow the people patterns.

Thank you for your response and input . The market is definitely skyrocketing. I will follow the trends but it seem like I might be priced out. I will continue to look but I'm thinking somewhere in the mid west to set my sights.

Yes. I currently live in New Jersey and wanted to buy property here, but it is quite expensive. So, I'm open to the idea of buying out of state. ideally I would like to remain in the 50 to 60 range and have extra capital to complete improvements if any. Any suggestions?

Hello everyone. New to the bigger pockets family. I currently just completed a HELOC on a property I own in Florida. The HELOC is a 100k line of credit. I am interested in buying a rental property for cash flow. Any ideas on good markets to find rental property for sale under 100k all in.