All Forum Posts by: Sam Rexford

I just finished his book. Haven’t taken his course. Working on getting my first deal now. Willing to chat more over the phone or Zoom if you’re interested.

I would love to hear how this went for you!

0 Votes

Quote from @Steven Hayes:

No real strategy, just wasn't good at the stock market so I tried real estate. Got the first duplex by living in one side renting the other. The next one needed a lot of repairs. Had someone help who works in construction that I knew. Came out ahead when selling that one and put 25% down on 2 others. So there is a total of 3 I have at this time. Without my job I couldn't have done this because sometimes they might need a new roof or other work. I don't know about the Olympia city limits, but in Lacey I don't need any kind of business license or special permit for duplexes.

Thanks for the break down! interesting. were you buying before the prices went crazy here last few years?

0 Votes

Seattle, Washington

Quote from @Steven Hayes:

Hello I have lived in the Lacey area for a long time. Not earning a high income I have slowly invested in duplexes over the years. I about gave up when Inslee changed the rental laws here in favor of the tenants, but I was introduced to a very good property manager and have had good luck since.

That's pretty cool, congrats! What was your strategy to acquire duplexes?

0 Votes

Seattle, Washington

Quote from @Account Closed:

Hey @Sam Rexford, this is a very thorough start! You may find this webinar by Dave Meyer helpful: “How to Choose a Market for Your First or Next Real Estate Deal in 2024" at bigmarker.com/biggerpockets2/DM-CM. I'd also recommend checking out the Market Finder tool (biggerpockets.com/markets) for a quick way to compare markets and narrow your search to a few top-performing areas.

TYSM!

0 Votes

Quote from @Nicholas L.:

@Sam Rexford

you're trying to boil the ocean. pick a market this way.

a place you used to live in, or went to college in, or have family, or like to vacation in, or know really well.

also: consider investing closer to where you live. i know, i know - you're going to tell me it's "too expensive." you know what else is expensive? buying a money pit you haven't seen in a market you don't know thousands of miles away, and then being beholden to agents and contractors and others you've never met.

https://www.biggerpockets.com/forums/48/topics/1137397-balti...

https://www.biggerpockets.com/forums/48/topics/1160450-run-i...

https://www.biggerpockets.com/forums/963/topics/1195280-expe...

the market right now is unforgiving and it's going to take something difficult or creative to be successful. so if all your fellow WA investors think WA is "too expensive" - then do something different than the masses.

hope this helps

This does help thank you. I think a lot feel as I do, that their home territory is too expensive. I'm sure that's just inexperience and illiteracy in REI leading me to that conclusion and I'm sure there's great deals around me, I'm just not sure how to look for them or go about that - I know I know, "build a network, dial for deals" etc, yeah I can do all that but my gut feeling is that the market is pretty cooked here rn where in other places there's room to grow still. I totally agree it would be ideal to buy in my back yard. Just genuinely not sure how to go about it here. I know that if I could get my foot in the door that long term profitability is relative, but entry point here is much higher. Thank you sir.

1 Vote

Quote from @Donato Callahan:

Quote from @Sam Rexford:

Hey BP! This is my first post. I'm totally new to REI. I live in WA State and the numbers in my home market don't look great for me, so I'm looking out of state at SFH's and trying to nail down a city/market to get started in. I'm building a spreadsheet to slice and dice. Below are some of the data points I'm looking at in each city, what would you add/subtract, or roast me for? :)

1. Number of Zillow Total Active Listings (SFHs

2. Number of Zillow listings in my price range, and the percentage of homes in my range against Total Active's (to try and understand if there are enough in my price range).

3. Population Size

4. Population Growth/Decline (If the population is growing or declining over the last 5 years).

5. Population Size

6. Job Growth (Growing vs Declining) Percentage (To try and understand if the local job market will continue to grow or decline).

7. Number of Major Employers (To try and understand if the local economy is resistant to losing a big employer, or if that would crush the economy)

8. Redfin YoY Home prices appreciation by percentage

9. Rent prices increases by percentage (is rental prices increasing or declining to indicate rental market strength)

10. Wage increases by percentage (are job wages increasing or declining to indicate job market strength)

11. Is the State Landlord Friendly (Yes or No)

12. Are there enough Property Managers with enough properties under management and deep enough vendors bench, or is it small shops

13. Floodzone risk (Severe, High, Moderate, Minor)

Am I on the right track? Roast my data or give me some advice :)

Sam, I got you covered. I took a look at some markets and made a quick video for you to help you out on this process.

https://www.loom.com/share/79170bf16882465e8fca26369a1fa1a7?...

Very cool and appreciate you doing this, I will look as soon as i'm able!

0 Votes

Quote from @Samuel Diouf:

Columbus, Ohio is a great market to consider if you're looking for appreciation markets that still cash flow. I moved here from Florida after seeing the expansive growth in the Columbus market.

There are multiple billion dollar companies dumping money into the city, such as Intel, Google, Honda, and Amazon. This is causing a huge influx of people moving here for jobs. And a lot of start-up companies are migrating to this city as well because of the OSU campus that has thousands of talented students graduating and looking for positions locally.

Everything that’s going on here in Columbus is attracting investors and other businesses from all over. A recent study showed that 80 people are moving to this city every single week, which will continue to increase housing demand.

Thank you for this, yup it's on my spreadsheet along with other OH cities... Happy to connect sometime.

1 Vote

Quote from @Bradley Buxton:

@Sam Rexford

You're on the right track. Have your goals and "you're investing because" guide your decisions on where to invest. These might change over the years. Number 13 I'd change to Insurance. There are other risks in different markets that will drive insurance costs.

Great point on the insurance metric. Makes sense! Ty!

1 Vote

Quote from @Danny Gonzalez:

Hey Sam,

These are solid questions. It's great to look at the different data points, but ultimately, it depends on what your goals are.

Are you wanting cashflow? Do you want to flip properties? How long are you planning on holding the properties?

Getting clear on what you want will help you narrow down to cities that are potentially a great fit for what you're looking for. Once you have a narrow list, then you can dive deep into which is the best option for you.

I appreciate it thank you!

0 Votes

Quote from @Jimmy Lieu:

Quote from @Sam Rexford:

2. Number of Zillow listings in my price range, and the percentage of homes in my range against Total Active's (to try and understand if there are enough in my price range).

3. Population Size

4. Population Growth/Decline (If the population is growing or declining over the last 5 years).

5. Population Size

6. Job Growth (Growing vs Declining) Percentage (To try and understand if the local job market will continue to grow or decline).

7. Number of Major Employers (To try and understand if the local economy is resistant to losing a big employer, or if that would crush the economy)

8. Redfin YoY Home prices appreciation by percentage

9. Rent prices increases by percentage (is rental prices increasing or declining to indicate rental market strength)

10. Wage increases by percentage (are job wages increasing or declining to indicate job market strength)

11. Is the State Landlord Friendly (Yes or No)

12. Are there enough Property Managers with enough properties under management and deep enough vendors bench, or is it small shops

13. Floodzone risk (Severe, High, Moderate, Minor)

Am I on the right track? Roast my data or give me some advice :)

Hi Sam! This is a pretty solid list. I would add a few things depending on your goal/strategy. You can check vacancy rates, property taxes, ARV, rehab costs, and days on market. Happy to connect and answer your questions.

This is fantastic thank you! 🙏 I'm looking at section 8 program currently, these look like good additions to my spreadsheet. Happy to connect!

0 Votes

All Forum Posts by: Sam Rexford

Sam Rexford has started 2 posts and replied 17 times.

Post: Slow Flip Real Estate Investment

Post: Olympia, WA investors, what do I need to know?

Post: Olympia, WA investors, what do I need to know?

Post: Newbie: Am I doing out of state market research for my first market right?

Post: Newbie: Am I doing out of state market research for my first market right?

Post: Newbie: Am I doing out of state market research for my first market right?

Post: Newbie: Am I doing out of state market research for my first market right?

Post: Newbie: Am I doing out of state market research for my first market right?

Post: Newbie: Am I doing out of state market research for my first market right?

Post: Newbie: Am I doing out of state market research for my first market right?