All Forum Posts by: Shoshana Shulman

Would it work if you got one new partner? The new partner could put up the $40,000 in exchange for you managing the property. Meanwhile, it would be a 50/50 split, so you would each cash flow $350.00 per month.

I apologize profusely. I was using the wrong name...I meant Cape Coral. The new builds in Cape Coral, which are going up on vacant lots, are between 200,000-300,000. If anyone is in the Cape Coral area, and can give me an idea of the rental demand, real estate appreciation, quality of schools, best streets in Cape Coral, any boots on the ground information, I'd appreciate it. Sorry about the error in naming the place.

It seems like there are really good possibilities in many, many places. I have researched Huntsville and Madison, Alabama, Phoenix Arizona, Raleigh/Durham, North Carolina, along with all the current hot markets, such as Ohio and Kansas and Indiana and Austin and , and, and...

Some places I realize I'm priced out of, like Austin, so I can cross it off my list, but many more show lots of possibility. Some have possibility only as a condo purchase, which at first I was very reluctant to entertain, but in markets such as Phoenix, it doesn't seem like a bad idea.

A single family house can be bought in Alabama in an A/B area for 150,000, but if I go to Phoenix or Raleigh I can get a two bedroom condo for 85,000-100,000, though the HOA fees would be approximately 200 dollars a month.

Any advice?

Thanks for your input Omar and Yonah. I don't think there are more reasons, other than that trust is an issue with people you don't know, and there have been syndications that keep investing in new investments, and the money is churned, but will it be there when it is time to exit? I think that about covers it.

Anyone invest with Mike Krieg of Steeplerock Partners?

I'm thinking of going into one of his syndication deals, but family is against it since there are no guarantees.

They want me to own something and have complete control over it.

Any thoughts?

Thank you.

Any comments on zip 35749?

No, it doesn't factor in anything for management. It's just money on money.

Thank you for your help with this.

The most recent one I looked at was in Kansas City and the schools for that address were rated between 8-9, elementary through high school.

I determined vacancy just by googling neighborhood information, zip code, etc.

I don't know if it's relevant or accurate.

But since you have been good enough to respond to me, I wonder if you could help me with my current dilemma. 

I own half a house with a relative of mine in a C area of a place where the cash flow is okay (~.9 %), the house is renovated, the prices are stable, but there is fierce competition among investors for these houses, so it's difficult to get one, let alone more, and the renter pool is plentiful, though due diligence on selecting a renter is primary. That said, my relative manages it for both of us and does not charge me for his services, so it's entirely hands off for me.

Here comes the dilemma:

I have (finally, finally) managed to save up $40,000 plus reserves to buy either another complete rental or buy the other half of this house I own with my relative.

If I buy my relative out, or if I buy a complete rental in the same area we own this one, he will manage for me at no cost.

ONLY, in order to buy a complete rental by myself in this same area, I would have to let him buy me out of my half of the house we are partners in. (It's a money issue)

BUT, if I could find a complete rental in a less expensive but better class area (Kansas City, Huntsville, Al, etc.), then I could get another whole rental for myself, and STILL keep the partnership with my relative (which I'm loathe to give up). BUT, I have to factor in paying for management fees to a management company and being long distance with NO feet on the ground for me other than paid services I'd have to manage from afar.

I do not want to over analyze this, and I do want to take action. Any advice or thoughts on this dilemma, or questions you might have for me?

Thank you.

When I research states, and then neighborhoods within states, I find houses with a good price to rent ratio, and a good school system, but statistically 15% vacany is listed as far as houses go. So even though 40% of houses in the area are rented, I ask myself if the area is glutted with homes. Can anyone speak to this phenomenon? What statistics are relevant and which are just contributing to my analysis paralysis?

Thank you.

Hi Jimmy-I am also a newer investor from overseas, and I have been looking at various markets, including the Indianapolis market. I am looking into a neighborhood that is improving, with decent schools and rental demands.

Shoshana