All Forum Posts by: Jeff Wallenius

Hey @Jeff Moe there are quite a few hazards to be aware of with flipping out of state. Our local market is very difficult to find deals in as well, as you know. I would ask what your goals are, 1 year, 5 year, etc. to see how to best achieve what you are looking for. I'm local and invest out of state, happy to grab coffee and share my experience. 

Owning real estate is one possible solution to your end goal. You have to ask yourself whether you truly want to own real estate or are you simply looking for a nice return on your money. There is no correct answer here, and each investor will be different. There are plenty of other options for investing in real estate without owning the properties. Note investing, first mortgage investing, syndication, etc. are options that provide double digit returns if invested properly, all without dealing with tenants or house issues. Happy to discuss further if you have any questions on where to find these options.

@Preston Roth happy to assist and provide some info as I invest out of state primarily.

Hey @Lisa Sanders I've got some friends that own real estate companies in Eugene and also some contractors that did some work down there. What type of referrals would you be looking for?

@Andrew Smith we're investing out of state in a few areas, happy to expand on our experiences if you need insight.

Welcome @Andrew Smith to BP. I'm sure you'll bring some great insight on the solar discussions which is fantastic! Investing out of state seems to be a common thread for us West Coasters!

@Sally Saladino are you living in the area to make sure everything goes smoothly with the rehab process? This is a difficult one, and if your losing money each month it may be better to liquidate and stop the bleeding. 

@Garlin Smith I would be happy to have a discussion on the Indy market and how to find solid rental properties. We do a fair amount of investing in that area with a great team on the ground.

@Sally Saladino you will have a hard time getting conventional lending on a property priced that low. Does it need repairs? Are rents low for the area? How did you find this property? You are correct that private money will most likely not touch this as the term and rate are not very appealing that your requesting. 

@Amy Engelhard I'll have to agree with the other responses you've received. Paying for utilities in a structure built in the early 1900's sounds like an heating nightmare to me. Has the property been permitted to be a quad plex? All too often these large houses become converted to multifamily with no permits or proper steps taken to support the increased occupancy of the structure. Another factor to consider is the area, as you mentioned its declining job growth which is also a concern. I agree 100% that this value would be a steal in our area, however there are plenty of other options out there and I'd be happy to provide more details if you have additional questions.