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All Forum Posts by: Tasha Barnes

Tasha Barnes has started 7 posts and replied 45 times.

Post: Out of State Investing - Please share the good, the bad, the ugly

Tasha BarnesPosted
  • Rental Property Investor
  • Charlotte, NC
  • Posts 47
  • Votes 16
Quote from @Mo Karim:

Hi Tasha - My #1 criteria is landlord friendly states. I'm not in the business to fight local and state governments. A good PM is worth their weight in gold so I'd interview and connect with as many as possible in the market you're looking in.


 Thank you Mo! I appreciate you taking the time to respond. Great advice!

Post: Out of State Investing - Please share the good, the bad, the ugly

Tasha BarnesPosted
  • Rental Property Investor
  • Charlotte, NC
  • Posts 47
  • Votes 16

Hello BP Family, 

I'm in Charlotte and the home prices have sky-rocketed so I'm contemplating purchasing investment prop. in my hometown (Buffalo, NY), Detroit, Michigan or Toledo Ohio. I don't have have a ton of experience and would have to depend heavily on a "good" PM.

Please share your thoughts!

Tasha 

Post: Would you purchase strictly for cash flow?

Tasha BarnesPosted
  • Rental Property Investor
  • Charlotte, NC
  • Posts 47
  • Votes 16
Quote from @Erika Geoffrey:

Hi all,

I've been finding really good deals for cash flow in some of the smaller towns. However I'm a bit nervous about purchasing in a town where there's not much going on.

We are foreign investors, strictly purchasing for cash flow - however there's always that lingering thought of non paying tenants, etc. etc. 

Does anyone purchase strictly for cash flow? Knowing that the property itself likely won't appreciate much or at all over time?

Hllo 

 Hello All, 

Yes, that's my strategy - to look for cash flowing properties.

Tasha 

Post: What is your go to method and/or tools for finding deals today?

Tasha BarnesPosted
  • Rental Property Investor
  • Charlotte, NC
  • Posts 47
  • Votes 16
Quote from @Andrew Vincent:

I don't have too much personal experience, but I think having a Realtor that is investor friendly would be a huge advantage! Even better if they have some skin in the game themselves. I think also having patience with how the market is because there are going to be some deals that you really want that just don't work out. Just my two cents from what I've learned from my readings and listening to podcasts.


 I agree Andrew! Agents that have done some real estate investing deals would be the ideal agent to work with in my opinion.

Tasha 

Post: DSCR loan for SFR with a MFR on the same lot?

Tasha BarnesPosted
  • Rental Property Investor
  • Charlotte, NC
  • Posts 47
  • Votes 16
Quote from @Scott Trench:

This might be a good use case for our new (beta service) Lender Match program. Click here and our team can call around and try to find a lender who can help you out: 


 Thanks for sharing this information! 

Tasha

Post: Best markets to do 100k in rev

Tasha BarnesPosted
  • Rental Property Investor
  • Charlotte, NC
  • Posts 47
  • Votes 16
Quote from @Cody Dastrup:

Hey everyone! 

I just secured my 2nd STR and in May entered year 2 of my STR journey. The 2 properties combined should do about 95k in rev next year on about 3.7k in monthly payments ($370k and $260k purchase prices respectively)

I’m wanting to challenge myself a bit on my next purchase and look at something that can do $100k in annual rev.

My question: Are there any markets where properties are sub $800k and doing $100k in annual revenue? 


 Hi Cody, 

I have nothing of value to contribute to your question since I'm fairly new to investing but CONGRATULATIONS on your STR Journey:-)

Tasha

Post: Best markets to do 100k in rev

Tasha BarnesPosted
  • Rental Property Investor
  • Charlotte, NC
  • Posts 47
  • Votes 16
Quote from @Cody Dastrup:

Hey everyone! 

I just secured my 2nd STR and in May entered year 2 of my STR journey. The 2 properties combined should do about 95k in rev next year on about 3.7k in monthly payments ($370k and $260k purchase prices respectively)

I’m wanting to challenge myself a bit on my next purchase and look at something that can do $100k in annual rev.

My question: Are there any markets where properties are sub $800k and doing $100k in annual revenue? 


 Hi Cody, 

I have nothing of value to contribute to your question since I'm fairly new to investing but CONGRATULATIONS on your STR Journey:-)

Tasha

Post: Is joining the local REIA worth it?

Tasha BarnesPosted
  • Rental Property Investor
  • Charlotte, NC
  • Posts 47
  • Votes 16
Quote from @Jim Kittridge:

Yes, it's worth joining. You'll meet other investors that you can get to know more outside of events.  


 Thank you!

Post: Is joining the local REIA worth it?

Tasha BarnesPosted
  • Rental Property Investor
  • Charlotte, NC
  • Posts 47
  • Votes 16
Quote from @Maranda Tucker:

To add to Scott's post, you may get more value by asking seasoned local investors to coffee! That way, you make a friend in your market that may be willing to help you navigate those waters. 

We are in CLT, so feel free to consider us a resource!


 Maranda, thank you so much! I will certainly consider you as a resource. 

Post: Off Market Properties

Tasha BarnesPosted
  • Rental Property Investor
  • Charlotte, NC
  • Posts 47
  • Votes 16
Quote from @Nick C.:

If a property is on a website it’s not off market. 

Thank you! 

I had a colleague tell me they had a website that list properties (commercial) not on the MLS.