I have 50k from a HELOC and need advice

[Elliot Obeng]

Hi all,

My wife and I are newbies and want to make our first purchase. We have been doing our readings from Brandon Turner, reading BP blog posts/forums (so much invaluable info), and looking at properties on realtor.com. We just got approved for a heloc for our primary mortgage that we have only been in for 2 years. Our goal is to buy and hold multi family units.

We live in northern, NJ where property taxes are really high so we are looking out of state to get more bang for our buck. As we research we see that Fayetteville NC, Dayton and Cincinnati, and Detroit are good markets.

We are wondering from those who have experience in these markets, would we be able to get 2 properties and do the BRRR method? Which zip codes are ideal?

How much cash reserve should we have?

Any connections to contractors/realtors?

We would want to plan a three day trip in the area of choice to field the area and make a deal.

Any advice/ thoughts are appreciated.

Thank you!