All Forum Posts by: Tyler Jahnke

Hi @Duke Giordano - I've invested in 3 syndications as an LP and have always used money from my online savings account (Ally Bank specifically). Ally seems to be the popular choice here. FYI - their rates just dropped to 1.8% but I still love them.

Wire fee: $20, but you could always call them up and try to get it waived ;)

-Tyler

What's up @Caleb Augustyn! I invest in the Phoenix market and it's been great. A few words of advice that have helped me:

1. Prioritize location: location (in my opinion) is extremely important. I learned the hard way when I bought property back in the day initially in a C/D neighborhood. The neighborhood you invest in attracts a particular tenant class. Your tenant controls your income. You want the best tenant possible.

2. Network, network, network. Non-stop. Everyday. Connect with people who are accomplishing things you want to accomplish. Phone calls, lunch, meetups. Don't stop because your connections are so valuable.

3. Build a strong team of a property manager, agent, inspector, lender, insurance agent...these key individuals will make or break your investment.

I got plenty more takeaways I've experienced throughout the years. Hit me up if you have any questions!

-TYLER

Welcome @Patrick G.! I'm also in the Bay Area!

I've been investing out of state the past few years. Started in the Midwest (Indianapolis and Louisville) and now focused on Phoenix.

To answer your question, Phoenix is a great market that's a quick 2 hour flight direct from Oakland International. Pretty affordable flights too with many flight options. Also:

-Fastest growing city in the US last year (population)

-5th largest city in the US

-Still very affordable cost of living

-7.7% rent growth last 12 months

Here's a recent good article about Phoenix.

I'd ask, how often do you plan to visit the market anyways? The fact that you're looking into a turnkey company shows that you want to be pretty hands off and at the end of the day distance really shouldn't matter too much.

The key is to have/build a strong team on the ground. Best of luck and reach out with any questions!

-TYLER

WOW.

I can't believe it's been 3 YEARS since I started my journey in the real estate investing world, and subsequently...I started this POST.

Obviously, I moved away from the monthly updates I used to give concerning the first property I invested in. I've been busy! I've learned A LOT these past 3 years. And my life has changed for the better.

If you remember, I started this post when I was in the middle of buying a <$40k house in Indianapolis, all the way from the comfort of my home in California.

A LOT has happened since then. Here's my investing journey in a nutshell:


-bought a cheap house in a bad neighborhood

-bought a second house in a better neighborhood

-sold my first house

-bought a duplex in a nicer neighborhood

-invested in an 80-unit apartment complex in Louisville as a limited partner

-invested in a 164-unit apartment complex in Phoenix as a limited partner

-I was interviewed on a couple of podcasts

-Now, I’m on the general partner side of a 94-unit in Phoenix that closes in October

So, where the heck am I going with this post?

I guess it’s to touch on a few things...

You’ll never know where the road will take you. I never imagined myself being where I am today. But these 5 things have led me to a world of OPPORTUNITY and they can do the same for you:

1. Network! Networking has been the single most important factor in my investing journey. Email, call, text, and meet people every day.

2. Learn from every single challenge. Every negative has a positive. You either win or you LEARN!

3. Have a vision for your life. And think about that vision every day. You are your thoughts!

4. Figure out what your unfair advantage is. And embrace it.

5. Understand what your best skills are. Go all-in on those skills and leverage them to provide value for others.

I wish you the best of luck on this journey!

-Tyler

Dang @Jessey Kwong I just realized this original post is from 2 years ago. Anyways, this is still a valid and important question. Here are some of the factors that I look at when deciding on a market to invest in:

• Population growth
• Job growth with higher wages
• Business friendly
• Diverse economy
• Strong occupancy rates
• Acquisition price-to-rent ratio
• Landlord friendly
• Infrastructure development
• Lifestyle amenities
• Educational institutions

Happy to go more in-depth on these if you'd like...just shoot me a message.

-Tyler

Hey @Erik Escalante, @Jaron Walling, and @Ryan Rominger - I'd argue that there 100% is a way to automate a search for off-market properties.

And I guarantee the most experienced investors here would AGREE. Take a look at @Ryan Dossey for example...

He created and owns a direct mail marketing company that sends out mailers to specific demographics and qualified lead lists. The off-market leads that are interested in selling call into his calling service (Call Porter) to further vet the leads and find motivated sellers. Throw in a little CRM system and as an investor, you're left with automated qualified leads that you then have to negotiate with.

Once you scale, you can even hire out the negotiation role and close on dozens of properties a month.

Not saying it's easy, not saying I'm even doing this personally, but it's all about systems and the opportunity exists. That's the definition of a well-run and flourishing investing business.

Hey @Corrin Godar - I've been investing in Indy since 2016 and have built a strong team out there (after a lot of trial and error). Feel free to reach out to me, I'd be happy to share my experiences and who I work with.

-Tyler

@Jeremiah Clark - Here’s the best piece of real estate advice I can give:

Run away from MI. Your time and money is too valuable.

Here’s my personal experience: 

https://www.biggerpockets.com/forums/92/topics/392727-morris-invest-case-study-20

-Tyler

@William A Jahnes Jr - Stay away.

If you've got nothing going on tomorrow, take a read of this 750+ post story I started a couple years ago: https://www.biggerpockets.com/forums/92/topics/392...

Hi @Diana Villalon - I'd say $650 per month is pretty low which also generally bring with it a certain type of tenant class. Looking at your zip code of 46201, you are probably in one of the more rough neighborhoods in Indy.

Make sure to take a look at a crime map and ask yourself if you're willing to take on the risk of those neighborhoods. Not to scare you away, but you'll probably have to hold for a few years before the neighborhood turns around (it's starting slowly).

If the duplex is in Emerson Height as close as possible to Irvington, you should be OK, or the east-side of Little Flower is good too. But, anything between Woodruff Place and Emerson Heights is pretty rough.

Also in talking to residents in the area last year, I also hear that with heavy rains a lot of property flooding occurs because the storm drains feed into the sewer lines. But, you'll have to verify that 100% because this was just from locals I talked to.

Best of luck and let me know if you have any questions! I have a couple properties in Indy.

-Tyler