All Forum Posts by: Simcha Davidman

@Aaron Maghen Howard is absolutely right. Investing principles are principles for a reason - because they generally apply.

But financing in the US is more available than anywhere else.

It's a bit unclear from your post - do you live in the US and are considering moving to Israel?

Feel free to dm if you have any questions about real estate, Israel, whatever.

Hi @Ohad Waizman welcome to BP!

Marlen is absolutely right. Educate, read, listen, repeat. Also - network, network network.

Most of the real estate firms in Israel that invest in the US (could be firms that invest in Israeli real estate also, but I'm less familiar with them) run very leanly. In other words, they have minimal amount of employees and they are very slow to hire more.

That's not to discourage you, but only to set your expectations. The more you educate yourself and network, the more you'll be able to figure out how you can add value to those that need that value.

Feel free to reach out if you have any more questions!

Hi All!

I'm coming to Fort Smith for a couple days next week for a property inspection.

I'm also looking to network with local investors. Feel free to dm me so we can schedule something.

(I'm actively searching for mid- and large apartment complexes, but I love meeting all sorts of investors.)

Looking forward to meeting you!

Thanks @Mike Vann. Did you use Mr. Alford (or someone else)? How was the experience?

Hi there!

I'm about to get under contract on a 50+ unit complex in Ft Smith, AR (also tagging Fort Smith, Arkansas for keyword purposes, and not sure if it pulls from the title) and would like recommendations for a local real estate attorney to use.

Thanks in advance!

@Aviv Harkov, @Mitch Messer has some great points.

Another thing to consider is whether it's worth it altogether. If you get a really solid deal making 10% CoC, that's $3000. How often do you plan on seeing the property? Each trip will be at least $1k, if not closer to $2k, depending on where you're located and how long you stay. If you coming in every six months (I recommend more often than that), that's going to be most of your profit right there...

@Aviv Harkov welcome to BP!

What are your goals? What are you looking for? What are you looking to do? It's tough to make resource recommendations without knowing what you want to do. For example, if you want to buy NNN buildings or industrial, learning about wholesaling single family homes makes no sense.

If you could clarify what you're looking for, we could point you in a more helpful direction.

Good luck!

@Mark Barton my pleasure!

One other thing. A lot of people think mid-west because they see homes for <$50k and cashflow at well above the 1% rule. If this is your thought process - be careful. I'm not saying it's impossible, but you really have to understand the nuances of the submarkets and have a property manager who you really trust. A lot of these neighborhoods are made up of very rough tenants, and 2% cashflow is great, until you have a tenant you need to evict and then spend thousands of dollars in repairs, only to have the cycle repeat itself over and over again.

The common advice given in these situations is that you really need to scale to at least 10 units as quickly as possible, but even more would be better. It gives you economies of scale, diversification, and more clout with the property management (you could even have enough revenue and work to hire your own handyman or whatever to do everything at that point).

If you're thinking nicer neighborhoods in the midwest, which are still way cheaper than SLC (is that what people call it???), then forget everything I said :)

@Mark Barton welcome! You've come to the right place.

Have you heard of David Greene? Check the book section on this website. I'm not telling you to buy his books, but he addresses this (living in San Fran and investing at a very large distance). He also goes into his story in a few different podcasts.

Lots of other people. Search the forums. Read. Listen.

It's definitely possible, but it's also not an easy task. It's harder than if you're investing in your backyard.

Another thing to consider. I assume you think you need to invest remotely because you live in an expensive market. You might want to draw a circle around West Jordan/Salt Lake around 100 miles radius (should be around 2 hour drive) and see what cities and towns you find. Southern Idaho and eastern Nevada are within reach, not to mention Wyoming and a large part of Utah. You may find that you can invest affordably within a day's travel and be able to keep it under control and much easier than a 4-5 hour flight away.

Good luck!!

@Paul Scammacca do you already own the first three?

Is the only reserves you have within your HELOC, or do you have other cash reserves or access to capital?