New investors looking to build teams in target markets

[Brandon Clark]

Hi! My fiance and I are planning our post-wedding strategy and REI investing is a core part of our strategy. While we're open to new ideas, we've honed in on our targets markets of Huntsville (AL), Columbus (OH), Milwaukee (WI), and Detroit (MI). Open to other ideas if you think we're missing a promising market!

In Huntsville we're looking at SFR but currently exploring if MF in the other markets make the most sense. Generally targeting C/B properties in B neighborhoods. Looking to learn more about those markets and connect with potential partners there to develop our strategy.

We have ~$50k to deploy initially but plan to make 1-2 investments each year (maybe more) for the coming years.

Thanks for any guidance and looking forward to connecting!

[Bryce Jamison]

In general, I'd recommend getting your first property as close to you as possible. Starting in REI can already be a little nerve racking, so I recommend doing your first deal on the easiest mode you can to build your confidence and build your skill set.

If I had to do it all over again, I'd buy a personal home with 3-5% down then repeat every 12-18 months. You can house hack too while doing this too to really speed up how fast you can scale.

Finally, I'd caution you against dipping into the C class neighborhoods. I know they tend to look better on paper, but there's no line on Excel for the headache factor that generally comes with lower class properties.

Good luck! Remember, it's a marathon, not a sprint, and keep a beefy emergency fund!