Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 54%
$32.50 /mo
$390 billed annualy
MONTHLY
$69 /mo
billed monthly
7 day free trial. Cancel anytime
×
Take Your Forum Experience
to the Next Level
Create a free account and join over 3 million investors sharing
their journeys and helping each other succeed.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
Already a member?  Login here
Real Estate Deal Analysis & Advice
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 2 years ago on . Most recent reply

User Stats

6
Posts
6
Votes
Jameson Waltz
6
Votes |
6
Posts

Help With Next Choice for New Investment Property

Jameson Waltz
Posted

Hello,

I am a little lost. I need to know my next step. I Bought a Condo two years ago, but because of my DTI, I couldn't buy anything else because of the two mortgages I have. I spoke with my friend who is a realtor, and another person who is a mortgage lender that deals more in investments, and his other team members, and it was pretty much agreed across the board, I need to sell the condo, because I only profit 135$/mo. That Condo will be off my hands June 1st. I should be roughly profiting I believe 90 to 100k. I live in Colorado and I am completely priced out here. I need to do something where I can start making some actual profit, and also have a lower hit on my DTI. I don't know where I should go, but I was thinking Ohio because I have been going there my whole life and I know the people, and I have family out there currently. Can anyone offer some next steps. I want to make sure my next move is the right one.

-Jameson Waltz

Most Popular Reply

User Stats

5,547
Posts
6,520
Votes
Remington Lyman
  • Real Estate Agent
  • Columbus, OH
6,520
Votes |
5,547
Posts
Remington Lyman
  • Real Estate Agent
  • Columbus, OH
Replied
Quote from @Jameson Waltz:

Hello,

I am a little lost. I need to know my next step. I Bought a Condo two years ago, but because of my DTI, I couldn't buy anything else because of the two mortgages I have. I spoke with my friend who is a realtor, and another person who is a mortgage lender that deals more in investments, and his other team members, and it was pretty much agreed across the board, I need to sell the condo, because I only profit 135$/mo. That Condo will be off my hands June 1st. I should be roughly profiting I believe 90 to 100k. I live in Colorado and I am completely priced out here. I need to do something where I can start making some actual profit, and also have a lower hit on my DTI. I don't know where I should go, but I was thinking Ohio because I have been going there my whole life and I know the people, and I have family out there currently. Can anyone offer some next steps. I want to make sure my next move is the right one.

-Jameson Waltz


It does not matter where you start as long as you develop your Core 4. The core 4 is David Greene’s long-distance investing strategy and consists of a realtor, contractor, property manager, and lender. Once you have this team in place, you should be able to invest in any market confidently.

As for picking a specific market - I would go after one with an increasing job and population growth. I invest and work in Columbus, Ohio. I am also looking to invest in Cincinnati and Cleveland.
  • Remington Lyman
business profile image
Reafco
5.0 stars
12 Reviews

Loading replies...