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Updated over 13 years ago,

User Stats

138
Posts
11
Votes
Kathy V.
  • Involved In Real Estate
  • Rochester, NY
11
Votes |
138
Posts

Investment strategy advice needed....

Kathy V.
  • Involved In Real Estate
  • Rochester, NY
Posted

Here's my story:

I've been a licensed realtor in NYS since 2005 and because of personal and professional preferences, my husband and I have decided to invest in AZ and eventually move there.

We have 2 rentals there and would like to do more. Apart from the obvious(long idstance dilemmas), we feel with our set of job skills, we can build a business there and make the transition.

My question to seasoned BP'ers is: what kind of strategies would you use to make this transition successful?

Some of the things I've thought about:
1. I am 1099'd and my husband owns an S corp business so traditional funding is questionable at best. Without getting too specific, we are PRIMO candidates on paper though.
2. I cannot, at this time, put mortgages on the 2 rentals. And even if I could, what we pull out would barely give us enough to buy another property.

So, do I search for private lenders? Do I go commercial? Do I buy notes?

I have been in contact with a couple of BP'ers(Nick J. and Justin S.) who live in the area of where I am concentrating my efforts. They are invaluable! I believe I can do this...I believe I can be successful. We are trying to build our wealth and eventually, put 3 kids through college!

So I ask you: What would you do??

I welcome any and all advice... :D

Thanks so much BP'ers!!!

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