All Forum Posts by: Abdalla Nur

@Abdalla Nur 

1. I think the property type you go after depends on the strategy you're planning to implement. If you plan to go straight cash on deals with no refy then I'd target small multifamily because you'll see more passive income. If you want to refy and try to BRRRR/build a small portfolio, then tackling smaller single families might be scalable for you with the amount of money you're looking to deploy. I'd formulate a criteria sheet to help you sift through deals.

2. Personally, I would try and talk to a realtor or broker about areas on the up and up, or at least try and figure out the areas to stay away from. You'll have better luck with property management and building a team in better areas. 

3. If you're unsure of where you'll be in a few years then I'd focus on building a team. So, if you do move away you have those relationships built and people who you can trust as boots on the ground. Columbus is a great place to build a team and lots of people invest there long distance. If you return you can pick up where you left off, and if you don't then you've got people who may be able to help you continue building a portfolio in that market.

Good luck!

@Abdalla Nur - If I understand correctly, you want to only buy all cash with no debt.  I would consider a small multifamily where you can live in one side until you move away and rent the other side.  It will depend if you can buy something at that price point that's turn key or not.  Be careful with all cash because its easy to over-pay where financing sometimes forces you to buy a good deal in order to cash flow, so I'd be more stringent on my criteria in case I ever changed my mind and wanted to refinance to start scaling faster.

Good luck!

In your particular situation, you may want to look for fully turnkey properties or syndications. This will allow you to be passive in your investments.  To be an active investor, it takes time and effort upfront. If you don't have the time to dedicate to it right now, then turnkey and syndications will still allow you to invest in real estate without having to be actively working on it until it can become passive.

In determining what to invest in, it depends on your why with investing in real estate. What goals do you need to have in order to accomplish your why? Do you want cash flow or appreciation? Do you need cash flow now? 

If you intend to buy a house for the purpose of renting it out later one, make sure you run the numbers on the property to account for ALL expenses. Many uneducated or inexperienced real estate investors go in thinking that as long as rent can cover their mortgage, then it is a cash flowing property. I thought that way when I first started too!  Make sure the potential rent you will get for your property will cover mortgage, property taxes, insurance, repairs, maintenance, capital expenditures, and potential vacancies to cover expenses between the time after a tenant moves out and a new tenant moves in.

Good luck on your journey!