All Forum Posts by: Scott Bolinger

Thanks everyone, this is great advice and helps me a lot!

Hey guys, I own a property in Memphis and I'm looking into buying more there.

The cash flow is incredible, but I'm concerned about where the market will be in 20 years. It seems like everybody and their brother is getting cheap properties that cash flow, it's almost too easy. 

The market fundamentals seem ok, population and job growth is slow but positive. I'm worried it's this investor bubble that's all just gonna pop someday. I don't have any data to support this, it's just a feeling.

Am I totally wrong?

Awesome post, I admire your work ethic and creativity @Douglas Larson!

I lived in San Diego for 6 years, beautiful place.

If I were you I'd look to see where the best deals are, and invest there. It could be where you live, work, or anywhere in between.

Personally I invest out of state because it's too expensive where I live. It's less about convenience and more about where you can get good returns.

@Lane Kawaoka yes I'm still glad I purchased TK, and it still provides decent returns. I was basically buying as a retirement strategy. My goals have changed a bit recently, I'm considering taking a more active role to speed up my wealth building.

@Elizabeth Wilson thanks, looking forward to chatting!

I'm a fairly new investor in California, and I purchased a turn key rental in Memphis last year.

It has worked out really well, and is cash flow positive. I am planning on buying several more properties over the next few years, and I want to see if I can cut out the middle man to get higher ROI. I am also interested in doing some BRRR deals where I can re-use my down payment to get more properties.

Since I am interested in out of state deals, My plan would be to develop relationships with brokers, property managers, wholesalers, agents, and basically anyone in one specific area (don't know what that is yet) and try to find some deals. I would have to do as much as I could long distance, and fly in very seldom, or else it wouldn't make sense.

I am passionate about REI, but it's still just a side hustle. I want to learn more, and I'm willing to do some legwork, but it can't be more than a few hours per week because I have a business to run.

My question is, is this harder to do than I think? Am I crazy to think I can do this long distance, and part time, and be successful without a turn key company to help?

Thanks!

I live in Southern California and have purchased a turn-key rental in Memphis. I expect it to cash flow, and I think it will be a good long term investment. The only thing I don't like is that turn keys are sold at market price, so I can't get my cash back out to re-invest quickly. I like the BRRR strategy, but I'm not sure how I would do this without physically being there. Is anyone doing BRRR out of state successfully? What advice do you have on how to get started doing this? Thanks!

Tzvi Ausubel thanks, can you send me your contact info?

Hi, I'm looking for a CPA. I'm specifically looking for someone who has multiple rental units themselves, and knows small business taxes well (LLC specifically). I need help reducing my tax burden, and managing my business and investment taxes. I'm in California, willing to do remote as long as the CPA knows CA tax code well. Thanks!

I'm new to this so do your own research, but Jason Hartman does the out of state thing exclusively. Jasonhartman.com