All Forum Posts by: Sarp Ka

Hello there,

I'm an out-of-state investor. I found an issue regarding to property taxes. They are never accurate on Zillow etc. I've recently been browsing Miami area, and I found that most likely you'd be paying property tax around 1.9-2.2% depending on the county. According to Zillow it's much less than that. Not knowing those areas well is a problem, asking around or checking individual county's website is often slow too.

I found that out by checking local county's tax calculator + found properties in the same area that's sold for similar pricing back in 2019 and how much they are taxed in 2020.

I had the opposite for Las Vegas, where the numbers were higher than the truth.

When you google, "property taxes in xyz" they only mention what an average property tax is in a given area, often that percentage has nothing to do with booming markets and does not indicate anything near what you'd be paying.

Anyway, just curious if there's any service where I can just put the zip code and get the real property tax amount/percentage that I would be paying if I purchase a house in that area?

Thanks

Hi there,

Where are the best areas for SFH investments in Miami area?
I'll be looking for areas where I can rent the property out to white collar or stable income families who would be paying rent responsibly and not damage the property.
Also areas should have cash-flow positive.

Hello there,

I am just curious what returns do people see from a SFH in this area?

Hello there,

TL;DR, I want to invest $100,000 per year as downpayment on 3/4plex as a primary resident, which city can give the best cashflow?

I've recently been looking for houses for investment purposes, however as lenders requiring 25% downpayment, it's too much money to invest. Since my work allows me to go remote, and work form anywhere I can use that to optimize living in that area. My current area is terrible when it comes to real estate investment and looking for any cash flow positiveness.

Also since I can only buy a single property per year as a primary resident, by utilizing 10% downpayment, I'd like to maximize as much cashflow as positive rather than just ROI. So if there's a property A, worth 500k; and generating 10k cashflow; property B is worth 800k and generating 15k cashflow positive; I'd still go for property B.

I didn't include SFH because I don't need to buy a super large house and not be able to rent any part of it (I am not keen renting it room by room or sharing common spaces). I also didn't consider duplexes since I don't think they'll generate as much cashflow as triplex/4plex. Also anything more than 4 units (5plex+) is also out of question, since I won't be able to get competitive rates with 10% downpayment.

My strategy to invest each year $100k downpayment to a 3plex/4plex until I can make $3500/mo cashflow positive income. At the end of each year I would simply keep the property and buy a new one as primary residence.

As for the area, I really cannot live in anywhere cold, so somewhere in sunbelt or near sunbelt would be nice. Also I'd only be interested in large metro areas that are consistently growing, would not be interested in small towns. One more thing is, I would not rather to live in C class neighbors, or any neighbors with high crime. I'd be targeting for more reliable tenant pool.

Any ideas/recommendations into which cities to look?

Hey there, I'm researching multi family market in the Bay Area, CA. The market is terrible however if I were to live here long term, it seems like a better idea to buy a multi family and rent out others; than buying a SFH and renting individual rooms.

The problem is, real estate market is crazy expensive here, where starting price is 1.2-1.5M. Ideally I'd target for a property worth 1.6M, and pay 10%. So approximately looking for 1.4-1.5M loan.

I know jumbo loans can go as high as that much, but the problem is they'd be requiring 20% downpayment, which is not something I'd want to do.

Is it possible at this point to get a loan with only 10% downpayment? If so, which lenders would do that?

Thanks

 Have you ever looked into the market? Even with multi-family in Richmond, you're making cashflow negative on C class neighbors. Plus with the rental laws, tenants could easily not pay the rent for a year and you still can't evict them.


As for the OPs question, I've recently created a thread and looked through all the answers. Unfortunately majority of people here would write you answers of their area, hoping that you invest there. It'll likely to benefit them one way or another if you choose to invest there.

Unfortunately the market is not the same as what it used to be. 1% rule exists in areas where you wouldn't want to step on, with the hopes that area will over time get better.

One very important investment factor is, the tenant pool you'll be targeting. Try to connect to property managers to understand what sort of tenant will live there and make your judgement, after numbers making sense. A lot of the places where it looks great on paper, they fail to have this done right.

 Hi Bill,

I am looking to get an umbrella insurance policy. My landlord one doesn't provide unfortunately. My auto insurance is progressive, apparently they do have some issues (I've read it on BiggerPockets). I only have 1 property at the moment, which company would you recommend?

Thanks a lot everyone. Based on these responses, I will look into Columbus, OH; Indianapolis and Kansas City (I am guessing in MO not in KS state).

Other ones like NC, TX I don't think they have good returns (and majority of people from there just asking if I looked into them). If you think they have good returns please provide recent data point.

 Yes I've considered NC for both Charlotte and Raleigh-Durham. They are not cashflow positive or there's barely any cash involved. So I am not looking for NC anymore.

 Sorry where do you find those A or B class areas? If you mean few hours drive away from me. They don't exist for my market (Since properties here are now costs $1M and you're always cashflow negative)