All Forum Posts by: Zane K.

Would have bought one higher quality asset (Class A or B) in Indianapolis metro area and not two Class C homes "cash flow on paper" which in reality I'm negative most months (sold one home to cut my losses) - constant repairs called in by tenant. My Class A (nice suburb and great schools) is doing well, except for the significant property tax increases. 

Don't buy sight unseen. Properties and neighborhoods look much different in person than in photos/videos.

Would have talked to property management companies first to ask about rents, tenant base, etc. And talked to contractors - I did all off this after closing on the homes. 

Would have had a local investor (unbiased party) walk the properties before I made offers. Will never again buy any 1920 "renovated" homes in Indiana (or any other state).

Would have looked up property tax records before making offers. If it shows change of ownership with LLCs every 2 to 3 years, not a good sign.

Would have probably bought one SFH in Nevada if going OOS - low property taxes, good appreciation and much closer to visit (drive to Reno or short flight to Vegas).

Would have also considered buying one SFH in California (not the Bay Area) but maybe Sacramento area or elsewhere in NorCal and done a mid-term rental to lessen negative cash flow. For me it's quality over quantity now.

Just to be clear , are you looking to purchase additional properties if the numbers are right ? 

@Zane K. I love this question. I help facilitate out of state investors find performing rental properties in various markets in the Midwest/midsouth so I am going to be taking notes on the comments here! 

Hi Zane,

I live and invest in Alabama, but the answer to your question depends on your strategy:

Are you looking for turnkey or distressed / rehab properties, do you plan to self-manage or use a property manager, what class neighborhood, are you buying cash or how much will you put down, are you willing to look at cities just outside of Huntsville? 

Send me a message if you would like to discuss in more detail. 

@Zane K. Sounds like you are experienced and Huntsville has been growing rapidly -

Long term wealth is always on appreciation not cash flow but to each his own

If you go here and put that address what does it show as market value and history?

Hey Zane - 

I am from Huntsville originally and it has grown significantly over the last couple of years. It might be tricky investing out of state, but Huntsville is a fantastic spot for mid and long-term rentals if you are open to those strategies. You have the tech/biotech and aerospace industries bringing in a lot of jobs, the university, and the city's population is steadily growing. It is also an affordable place to live, espeically comared to CA, with a a strong demand for rental properties. Happy to connect and chat further if you have any questions. 

Unfamiliar with Huntsville but heard great things about the Alabama coast and have several friends investing in the region..a healthy first step will be connecting with an investor focused and friendly lender. .check in with @Joseph Chiofalo he's my go to investor lender for 20+ years.