All Forum Posts by: Travis Bodnar

What is it about Texas, maybe specifically these areas, that there is growth?  

Thanks everyone for the posts.  I have read rich dad and think that might be a good idea.  All good points

I am a dreamer.  I am a planner. I analyze to the point of analysis paralysis.  That said, I tend to lean toward the "take chances while I am young enough to make up for my mistakes".  My wife - in profile pic as well - aint she a gem? - is overly conservative (and bad at math).  She is the type that believes you put your head down, work hard for the man (boo), and hope to retire at 65/70 by "saving". Now I have started to read, listen and watch everyone talk about the options to make money in real estate. My question is, how do I convince my wife that investing in RE is the best option for us long term?  How do I get her to understand?  Has anyone else had a similar situation?  I feel our best option is either working with turnkey providers, buy and holds or partnering as we both have full time jobs we like pursuing for now.  Whats everyones advice?  

Hey Martin  - I think I read a post that stated you are just starting out (could be wrong).  I am in the education phase right now trying to understand southern california even though I will need to look OOS because of the price point.  I have talked to some people about the Perris, Moreno Valley area.  I work in the area and commercial property is scaling really fast.  Companies like Amazon (who have two building and one on the way) need thousands of employees (population growth in area is increasing - look at Orange County 15-20 years ago, and Corona 10 years ago to now).  Since those employees need to live, those areas on the lower end could be driven up (what I am told in my education) with no increase in new homes. That said, because of this, the areas like Murrieta and Temecula are seeing increased new homes going up.  Everything is moving East.  I strongly feel that Murrieta/Temecula and even Moval will be the next Corona/OC in 10 to 15 years.  Maybe some real estate investors/agents can comment.   I also work in Hemet and San Jacinto.  I believe those areas are dying slowly IMO.  

Thanks everyone for the advice and guidance.  I will check those suggestions out.

@Ray Reed but isn't there a concern of "just because it is listed on craigslist for x amount doesn't mean thats what it rents/sells for in the market".  I mean what indicators does this provide about the rental trends for an area?  With purchasing a property we can see what things have previously been purchased for.  Does something like this exist on a website?  My guess is the answer is found within either networking with individuals that rent within the area or maybe there is some type of "formula" regarding looking at apartment/condo rental prices and using it to further understand single family or multi family rents.  ??? Just spit balling here 

Hey Vincent. Congrats! Cant wait to get my first deal let alone first multifamily. Questions - I hear a lot about the one of the only ways to find a real deal is on the MLS outside of the hustle people do through marketing. That said, you must be real estate agent correct? Or did you have an agent work with you to help you find the deal? Can you provide some advise on that?

Also, you stated that you tracked area rents.  How did you do that?  By hitting the local streets or were there websites you used?  

Thanks for your reply.  

@Eric Delcol this maybe an amateur question but if hard data is something we can look at to give us indication, where does someone find costs to build and inventory figures? Where is the best places to pull data?  What other data are people using (I am new and in the learning/research phases while I grow my cash)?  

 I like numbers to make decisions.  For someone like myself who is numbers driven can I use data/numbers to better a) pick a designated state/county/city  and b) prepare to enter the market when the time is "better" (someone like myself who is starting with little money).  

I don't think the California market is something I can invest in right away.  How do others invest in out of state areas without numbers?  Do you pick by closing your eyes and pointing at a map or because I took a trip there when I was 12? (sorry not making fun but my wife says she does things by "feel" or "heart" and I don't think thats the way to run our investment portfolio).

Great feedback from everyone.  Appreciate the help/advise

Thanks for the info.  I will check them out. 

Great advice guys.   For those that buy in other states but want to get a hot or cold feeling, what market indicators or data is out there to say, "I like this state - wow this city is worth investing in because..." I guess what I am getting at is I have heard (by opinion) that X market is hot right now.  Are jobs a good indicator, or gas price fluctuation etc etc... My reason for asking is that California is a market, while I live in and own in, I don't think I can afford to invest at this time but want to get my feet wet per se in another market.