All Forum Posts by: Stephen Brown

Hi Phil. I would strongly recommend looking at the midwest and plowing your money into one market and developing a relationship with a property management company to allow you to grow quickly. I will message you.

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I'd recommend the Midwest because you will be able to scale faster but please remember that you will need ample reserves. A good agent will be able to bring you a solid property here given your circumstances. Hit me up for more info.

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I personally like the midwest and I've been looking at Michigan for out of state properties however my city is great. You can still find on market turnkey deals here. I'd be happy to discuss more. The other market I am considering is Grand Rapids, MI.

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Quote from @La'Terrius Campbell:

Looking for contractors in Columbus, Cleveland, Dayton, Toledo, and Cincinnati, Ohio. If anyone knows investor friendly contractors, let me know!

I have a whole bunch of contractor contacts if you'd like them please message me what you're ideally looking for and I can text you them.

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Quote from @Bugsy Sigel:

Hi! What’s the average PM rate in the Toledo area? I had one telling me 10% and I’m thinking that’s kinda high

You can expect 8-12%. My company is charging me $75 per door currently.

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Toledo, Ohio

As a realtor in Toledo myself, I see this too. Properties that I once would have sold to my clients I would steer clear away from now because the cash flow just isn't enough to support the value of the area.

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Toledo, Ohio

Hello BP,

I am underwriting a deal using the Michael Blank's SDA tool and I am looking at how to go about underwriting a property where I would assume the mortgage. Does anyone have experience with underwriting a commercial deal where they assume a loan and would be able to show me how to structure my pro-forma for acquiring a property with a second mortgage and an assumption? Any day works, preferably a zoom call late in the evening.

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Quote from @Salvatore Lentini:

@Kaylee Walterbach -

The biggest contributor to my growth has been networking. Early on my first half dozen single family rentals were acquired through a Realtor both on and off market. She then told me about an off market 14 unit multi family, which I bought and it was like adding jet fuel to my real estate investing career. I realized networking would accelerate the growth of my portfolio. I went out of my way to contact brokers, title agents, lawyers, other investors... anyone involved in the real estate industry. I'd make regular calls to them, meet them for coffee and take them out to lunch. Since that moment of realization 7 years ago, all of my acquisitions have been off market and I am now buying 50,000 sq ft commercial buildings, triple net properties with global companies and developing multi families from the ground up. So for me, networking has been the biggest contributor to growth and it is surprisingly fun too!

Hope to be in your position soon man! Ironically I've been doing the same thing once I realized the power of networking!

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Quote from @Julie Greenhouse:

hi! I live in NYC and am looking to buy my first real estate property to rent out, ideally for a combo of income and appreciation. The thought of buying in a market I'm unfamiliar with and isn't within driving distance is a bit daunting to me. Any suggestions for markets within a couple hours distance of NYC that you would recommend I look into? New Haven, Philly?

Separately, my daughter is going to school in the fall in New Orleans so I am considering investing there, but it seems like Nola has its own set of problems that might make it too difficult as a first investment. Any ideas are greatly appreciated.

Not sure how far you'd be willing to drive but if you want to check out a solid cash flow market I'd be happy to talk to you about Toledo.

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New York City, New York

Hey Daniel. Right now on market properties are tough to make work. I'd recommend two different routes: 1 off market or 2 going into a new market where the numbers still work. Happy to discuss with you about how I got started.

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Charlotte, North Carolina

All Forum Posts by: Stephen Brown

Stephen Brown has started 72 posts and replied 992 times.

Post: Newbie investor seeking advice

Post: Investing in real estate at 21 with $30k

Post: Thoughts on investing out of state?

Post: Contractors in Ohio area

Post: Property Management in the area

Post: Toledo area market...what are you seeing?

Post: Underwriting - assuming a loan on a commercial deal

Post: Multifamily investors: What has contributed to your growth?

Post: Choosing a market to start out in driving distance from NYC

Post: Having trouble getting started