A Newbie Investor appeared!

[Kenneth Lee]

Hello BP! I consider myself a total newbie despite having purchased my first investment property 10 years ago. I started by buying a SFH in Las Vegas and before the bubble burst, unloaded it for 4 SFHs in Texas and OKC via a 1031x. The builders offered significant cash rebates on closing that allowed me to buy more properties in Mississippi. Those last two were a disaster -- Chinese sheetrock, HOA bankrupt and unrentable. After a "strategic default" I'm back down to 4 properties.

I don't know why I took my foot off the gas -- it's been nearly 10 years since my last deal. Maybe life happened -- had a kid, moved to Seattle, who knows? But the bottom line is I'm ready to go big in 2018! I hit local banks and got a 150K HELOC with 2.99 intro APR. I'm looking to refi or get a LOC to get equity out of my Texas properties. And I've got a great paying job in tech that will fuel my RE investments.

In 2018, I'd like to build my network, learn more about REI, 3x my portfolio and get that cash flow!

[Antoine Martel]

Originally posted by @Kenneth Lee:

Originally posted by @Antoine Martel:

Awesome story and glad that you're back into investing. 

Welcome back!

Where are you looking to buy come 2018?

Thanks for the warm welcome -- to be honest, I have no idea where I'll be buying!  I had been listening to Clayton Morris's podcast and he talks about the midwest.  I had a call scheduled with his company to see what they have, but I do see some healthy discussion on BP about Morris Invest.  Ultimately, I don't have time to fix/flip, so mostly looking to get into turnkey properties to buy & hold.

 Makes sense. The midwest is where I would recommend that you look as well. Low prices and high rental rates. It makes for the perfect cash flow. I invest in Memphis, St. Louis and Cleveland and would love to help you start a rental property portfolio there.