All Forum Posts by: Will Wilson

@Karl McGarvey haha right on the beach is on our radar for the next property. Our backyard is going to be unlike any STR on the market in Galveston so we are looking forward to seeing the results. I think it's a great market regardless the time of year.

@Karl McGarvey great to hear you are rented through November! We are currently in the process of getting our AirBnB in Galveston setup. Seven blocks from the beach. Would love any insight you have on keeping your place booked year round!

Hey BP family! 

I'm looking at doing my first house hack and super excited about breaking in to real estate on the residential side. My goal is to buy a duplex with an FHA loan and rent out the other unit. I'm going to be looking to do some minor updates to the unit I will be living in along with potentially a few of the same in the other unit to increase the homes value. The updates I will be looking to complete are:

- Installing efficient and cost effective flooring throughout (1,200 square feet)

- Removing bathtub with stand up shower/subway tile and new toilet 

- Adding additional storage in bathroom

There are probably a TON of things I am not accounting for as this will be my first time ever taking on a task like this. I do have a good network of people here I will be contracting the work out to but anything I can do on my own to cut cost I am more then happy to do. My question to everyone out there who has experience doing this is what price range am I looking at to make these updates? What can I do on my end to help be cost efficient? 

Here are the pictures of the units living room and bathroom that will be updated. I appreciate any advice!

@Matthew Irish-Jones Hey Matthew, I never said I didn't want to invest in Buffalo. Cleveland is just an option for me since my brother resides there and I've heard good things on returns. It is also my plan to obtain a few properties there to pass on to my brothers kids(my nephews) so they have a nice inheritance 30 years down the road. I'm definitely continuing to look at deals in Buffalo and analyzing my next purchase. If you have some insight on the local market here and where you currently buy I'd be very interested.  

@Brandon Kmiotek you're the third person to recommend them now! My attorney actually just recommended them as well after they did a training with their office. He reached out to a contact there he said would be perfect for my goals. Looking forward to learning a bit more about them. 

Hey @Peter Wolszczak ! Thank you so much for the response. Super pumped with the information you provided. Glad to see another Buffalonian on here who has experience throughout the area. I have been finding more and more opportunities as of late, would love to connect and pick your brain. I also appreciate you recommending Towne, looking forward to doing some research on them. Perhaps you'll be able to let me know what's work well for you with them. 

@Brandon Kmiotek Hey man! Thanks for taking the time to respond. I definitely agree there are still plenty of deals to be had and I'm working hard to put in the work to find them. Also glad to see another Buffalonian on BP! I have been looking at single and multifamily homes so far, both in the northtowns, southtowns and city. Would love to here about some of the deals you've found and your current project on the west side!

@Mike Wilkinson thanks for this insight! I really appreciate your response. I'm really trying to build my knowledge on this since I believe it could be a solid option for me. I currently reside in Buffalo, NY and our market here has exploded in the last few years. Very small margins and difficult to get that ideal ROI where the numbers fit. Cleveland has been a market on my radar with numerous neighborhoods/rents on the rise while housing prices remain moderately low. My brother also lives there and it's a short drive from Buffalo. But I've seen several threads on BP that state Cleveland is a nightmare for good PM companies. There has been a few that some people recommend however. I'm definitely open to all areas of the country as I'm not restricted in the sense of traveling there and getting my feet on the ground. From a technology perspective, it seems there's an abundance of resources to use that help in the process of finding properties through a PM company and having them do a lot of the work. Not sure if you can speak to that or not.

Hey BiggerPockets, 

Looking for some insight on who has invested out of state on properties that are run by a solid property management company? I'm looking at several different areas around the country to get my best ROI. One of my main objectives is a steady monthly cash flow built up over 5-10 properties. What are the main pros/cons/things I should know? I currently have a partner in my city who I have a few commercial lots with and don't get too involved with logistics but have the capital to invest. Thank you in advanced!

- Will