When out of state buyers choose a provider, they should choose one that does not paint a rosy picture of everything, & sets realistic expectations.

Hi Everyone, I recently signed up for Groundfloor to help diversify my portfolio.  While looking at their available investments.  A thought struck me, I am not entirely sure of the difference between a bad & good ...

For me, a self-managed, cosmetic rehab (exterior/interior paint, flooring, new fixtures) in KC is around $15 to $20/sf. 

Depends on the area and what package you choose.

You'll have a lot of prospective tenants to choose from. 

Feel free to use numbers as you choose.

Personally, the only reason I would be investing in an area besides my own is that my money would translate better in that distant area, so if the 1% rule is really hard to come by in Richmond and they go fast to locals buying all cash...and you have no real reason why you are choosing Richmond (i.e. family there, friends there, contacts there, love the city, have history with the city), then why not go where there are deals that can still meet your criteria...and that goes for all over the country not just Hampton Roads.

Purchase price: $15,000 Cash invested: $8,600 Sale price: $74,500 2000 mobile home; 1152 sf; 3/2; 2.88 acresWe did minimal rehab - replaced a toilet, painted, replaced carpet with laminate flooring.

So there would be no more or less risk than choosing a syndication, and you do the due diligence in the same way.The big thing with DST’s is that on the plus side they generally do not charge a promote/carry because they are prohibited by SEC rules.

I do not want to paint over them for fear of the new paint  eventually doing the same thing when I have a tenant in the home.