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Updated over 4 years ago on . Most recent reply

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Jeff Collins
  • NY Metro
1
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Ready to take the plunge into REI

Jeff Collins
  • NY Metro
Posted

Hi Everyone, I’m at a point in my life where life is too short and I need to make my money work for me and plan for long term financial freedom and stability.

I am debt free, own a home in the NYC area (with mortgage) and have $70k that I am ready to use and buy a property or properties for my first step into Real Estate investing.

Since I live in an expensive part of the country I have been reluctant to buy locally and have been drawn to the south where homes are much more affordable. Buying OOS seems to eliminate the BRRR route as that seems to be more of a headache if the property is not nearby.

Is looking for properties with a local market realtor the best option, or just looking on my own for deals on Truilia, CREXI, Zillow, Roofstock, etc a better route?

Any thoughts on the Turnkey service providers that are on here?

Is a single family the best way to go or look for deals on a duplex - Quad better?

Would love some advice and direction on what would be the best option for my starting situation and how I can grow from there.

Looking to buy & hold and build a strong portfolio of rentals to generate strong cash flow is the ultimate goal.

Thanks for your time and looking forward to hearing from you.

Best,

Jeff

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