All Forum Posts by: Travis Nance

Hello Joe,

I am in the same position as you. My wife and I are looking at putting offers on a first property in the coming weeks. I have spoken to friends that have RE investments, and listened and learned a lot from this site. All I can say is this is an amazing venue to talk to people that are for real, and really doing REI. Most of my friends and family just don't get it. Good luck! The St. Louis area seems to be a great area to invest, which means there is probably competition for that elusive "killer deal".

Hello BP nation,

I just want to share that after years and years of talking/thinking/dreaming about getting some investment property, I'm actually in the process of finding places to put offers on. I have learned a lot from this site, and a few others, which will remain nameless. I feel I have an OK sense of what makes a decent investment, and what red flags to be aware of. I have learned from the mistakes of others, vicariously. All I can say is that I feel somehow less nervous now. Being in action feels much less scary than sitting on the sidelines; looking at ugly houses, and mulling over the different RE philosophies ad infinitum. Wish me luck! As Arthur Garcia said in his podacast " You're looking at the next Donald Trump"...lol.

T

@Brandon Turner , I'm not invested in RE other than my primary residence and MREIT stocks. My wife and I closed on a house back in May, got a great deal on a short sale which took almost 6 months to navigate, and was a great learning experience. We were hunting for a long time however, and got outbid by so many all cash offers, we almost gave up.

I will definitely be utilizing this site, and the connections I make for our investment endeavors going forward. The support, knowledge, and amazingly successful talented people here have me feeling as though I'm standing on the shoulders of Giants.

@Brian Burke , thank you! I enjoyed hearing your podcast, and I have seen your name in the local media. I am curious if you are still finding rehab deals locally, or having to source them farther away? I know there was one large firm, which I won't name, doing numerous flips in this area, and I just couldn't figure them having decent spreads based on their holding time, price drops etc...The quality of work seemed poor as well. I know because I viewed many of them when searching for my house last year. Anyhow, happy investing,

Travis N

Welcome Kevin Dolan, I am in a very similar set up. My wife and I are both in healthcare, we live an hour north of SF, and I'm also looking for long term cashflowing properties outside the Bay Area. We should chat sometime. Cheers, TN

Welcome Kevin Dolan, I am in a very similar set up as you are. My wife and I are both I'm healthcare, we live an hour north if SF, and I'm also looking for long term cashflowing properties outside the Bay Area. We should chat sometime. Cheers, TN

Thank you Arthur Garcia , I have been looking in central CA, Sacramento, Modesto and less expensive markets. I know there are cashflowing properties out there. Just gotta wait and pull the trigger when a good deal presents itself. I am not afraid to invest out of state either, if the numbers make sense. Also the price per unit makes deals in say, Memphis, or Houston much easier to pay cash for, and save that all important DTI for larger stuff in a couple years. All in all I'm just excited about RE investing and have been on the sidelines far too long. Thanks for the offer, and I'm sure I will have a question or two for you going forward.

Hello Jay,

the market up here is frothy for sure. There were a lot of flippers making money the last few years, but that market is drying up very quickly, as the lower price point houses are disappearing.

The market for multi-family is silly too. The usual "rules" just don't apply here. A duplex in a good neighborhood is around 500-600k so...

The rents are going up very quickly, but the numbers still don't make sense.

Anyhow, I'm interested in a possible out of area, or out of state multi-family, kinda like you Jay. Looking for cashflow, and building a portfolio.

Hello BP nation,

been following the site for a while, and listening to the podcasts. I figured it was time to say hi, and get a little better acquainted with this awesome community.

I'm enjoying the podcasts a lot; the diversity of the speakers is great, and the real life experience stories are great.

Cheers,

Travis

Rents have increased dramatically in my neck of the woods.

http://www.pressdemocrat.com/article/20131027/business/131029665?title=Apartment-rents,-sales-jump-in-Sonoma-County#page=1