All Forum Posts by: Steve Cook

Adam, I'm in San Francisco and would be interested if we could meet somewhere closer, Oakland perhaps. Are you aware of the upcoming Oakland meetup next Thursday, the 16th?

Hi guys,

Another SF local here, curious if any of you guys are investing out of state?

@Shawn Holsapple Thank you. The more people I connect with, SFH seems to be a safer play in Indy, especially from a vacancy risk and return perspective.

@Ali Boone Thank you for your response and your posts on the site, I've read a lot of your thoughts on turnkeys and would love to pick your brain some more! My understanding was that vacancy and maintenance are included in the 50% rule. As @Erin A. mentions, I don't think the 50% rule is accurate enough to rely on when constructing a full P&L, but it does seem to give a quick estimate if a property will cash flow and if it makes sense to dig deeper.

After doing more research, I've become more drawn to the northeast townships in Indianapolis, specifically Washington, Lawrence and Warren. This property was outside that area closer to the center of the city. Let the research continue. :-)

Not sure if @Marco Santarelli, @Mike D'Arrigo or any other local experts have any thoughts on which townships to target and which to avoid.

Hey guys,

I found this listing and it's a perfectly good example of the type of investment I'll be targeting. Duplex in Indianapolis that should produce right around $250 a month of positive cash flow. This is how I ran the numbers, anything that I'm completely neglecting here?

J. Martin

@Johnson H. I couldn't agree me. This is probably my biggest challenge at the moment and ties into why I'm thinking about turnkey providers. I'd love to connect at the next meet-up and pick your brain about Houston & Pheonix.

@Thomas Hart Definitely would love to connect at the next meet-up, we need to get one on the books.

@Haim Mamane Palman Thanks Haim, shot you a PM.

@Mehran K. Appreciate the feedback. I've read a lot of your posts and have always them insightful! Thank you.

@Dean Letfus @Curt Davis Thank you both, I'll add Memphis to the research list.

@erin allard. Thank you for the PM, I will follow-up through e-mail.

@melvin yuen. Definitely would love to connect at the next meet-up. There is a thread going, but I don't think they have chosen the next date yet.

Hi Everyone,

I've been lurking for a month or two now and have been picking up a lot of knowledge from BP in addition to reading some great books.

The Millionaire Real Estate Investor

Rich Dad Poor Dad

The Real Estate Investors Tax Strategy Guide

The Richest Man in Babylon

Buy it, Rent it, Profit

A little about myself, I'm 28 and work at a large technology company in San Francisco where I do financial modeling. I was saving for a house here, but realized after doing more research that I would rather put my money to work in an investment property. As a result, I have about $20K to invest, but I'm currently planning to wait until June, at which point I'll have another $15K worth of options that vest and will have a total of $35K.

My current strategy is focused on buy & hold. My immediate goal is to pick up least two properties a year for the next 3 years that produce a positive cashflow of at least $250 month. I'll be reinvesting all the cashflow as well as $30K per year of my own money which will be the minimum I'm amount to save in any given year. I'm open to both SFH and MFH.

My current challenges are evaluating my target markets, after reading article after article, some markets I've identified are Houston, Indianapolis, Kansas City, Dallas & Fresno. They all seem to have properties that will cash flow for the amount of money I'm able to invest. Fresno might stand out as an oddball from the others, but I like that I have the ability to drive there in a couple of hours and see things for myself.

For the other markets I've stumbled onto a lot of 'turnkey' providers which seem to be a great option for out of state investors. Obviously, any deal I'm involved with will be subject to my own due diligence and research, I'm not scared of spreadsheets or rolling up my sleeves to do some analysis. I just don't know who the reliable turnkey providers are and in which markets, this is part of my ongoing research.

Apologies for the lengthy write-up, but I would love to connect with any experienced investors in the Bay Area who would like to serve as a mentor, I'm like a sponge right now and soaking up all the information I can. :)

Love the community you guys have created here and looking forward to quitting my job in a couple of years. :)

All the best,

Steve

Hi Everyone,

Great thread here, I'm a local who is just getting my feet wet and would love to be apart of the next SF meet-up. Look forward to meeting everyone in the future.

Steve