Fort Worth, TX · Member since 2020 · 1k+ posts · 2k+ votes
Does this scenario fit you? We would like to interview anyone who rents their primary home in a high-cost market and buys SFR (single family rental) in lower cost market as an investment. Example: an investor who lives (and rents) an apartment in NYC and buys single family rentals in Orlando as investments. If this fits your investing strategy, please reply to this post here!
Yes that is my situation, I am starting from nothing with basically nothing except the ability to learn and a deep desire to grow and fully develop psychologically, personally and professionally.
Yes, this is what we are doing right now. We rent a house that is valued at 1.5M in California. Instead of putting 300K down on a home for 1.5M, we have used that money to purchase homes out of state that generate income while still living in a beautiful home and paying half of what we would if we had a mortgage on it. We will get a tax write off of the homes we own out of state. We live in an expensive area without having to come up with a huge mortgage. Downside: We do realize that equity built in our local area is much more than equity built in the area we are investing in.
I have been thinking of doing this myself. I want to find a cheaper rental to live in and turn my primary residence in a rental for two reasons. First so I can have a lease on this property for the bank when I apply for the loan on my next property and second I can add not only the cash flow from the rental but also the difference of living cheaper to my investment funds each month
Yes that is my situation, I am starting from nothing with basically nothing except the ability to learn and a deep desire to grow and fully develop psychologically, personally and professionally.
We rented out our primary home in Bismarck, ND and moved to Colorado where we pay high rent. We are looking for other properties (looking all over the country) to purchase and rent out but are new to investment properties and are trying to learn as much as possible.
Yes, that’s my situation exactly. I live in Sarasota, and have been renting ever since my divorce in 2015. Rents started gradually going up not long after that and I had the good fortune of finding out about a mother-in-law/guest house for LOW LOW rent, so I jumped on it! Thank goodness because since then rents have exploded in the area. Meanwhile I have two investment properties in Citrus County - about 2 hours north of Sarasota.
I am currently on the fence with doing this. Have a large new primary residence 30min from downtown Houston and thinking I want to rent it out and either rent a cheap condo downtown or purchase a cheap condo downtown. Always hated the idea of renting but purchase prices and interest rates are infuriating when looking at downtown Houston since every $130-150k condo was just $80-110k two years ago.
Exactly my case. Rented my primary residence in Hollywood FL to move overseas for a while to pursue a business opportunity in 2018. Now I want to return to the states to do REI and will keep the house rented. The goal is to do real state full time: buy SFR to Fix and Flip and BRRRR. I'm open to moving anywhere in the US but I've always lived in FL, so I'm not sure where could be a good place to live and invest. Any market recommendations for a newbie? Thanks!
Yes, this is what we are doing right now. We rent a house that is valued at 1.5M in California. Instead of putting 300K down on a home for 1.5M, we have used that money to purchase homes out of state that generate income while still living in a beautiful home and paying half of what we would if we had a mortgage on it. We will get a tax write off of the homes we own out of state. We live in an expensive area without having to come up with a huge mortgage. Downside: We do realize that equity built in our local area is much more than equity built in the area we are investing in.
Hi All - new to this community. Wanted to see how you all feel about renting primary home in HCOL and buying investment properties in LCOL areas. Increase in interest rates has created a potential challenges on making positive cash flow even for LCOL area investments.