All Forum Posts by: Adrienne Green

@Saad Hameed great idea to post here!

I invest locally and long distance.  For long distance the pro and the con is you can't handle something yourself- you have to pay someone else to handle it.  Assuming your time is more valuable than what you're paying someone else to handle it, it's a pro.  It removes any temptation to do low level tasks yourself.  Now if you are someone whose time is not valuable, than having to pay someone else to do these things would be a con.

I help a lot of long distance investors buy and sell properties, the majority never travel to the area at all.  If they do come here, it's usually prior to buying to get the lay of the land.  Second most common time is while under contract or at closing.  Most clients visit 0-1 times ever.  We take photos, videos, etc. so it's like they're here.

It sounds like you're looking to buy a long-term rental?  With a good property manager why would you need to visit?  

My biggest advice is to interview a few PMs, choose the best, and check your monthly statements from them.

@Keith Johnson good call looking at OOS investing!  It's SO easy these days, there's no reason to be limited to where you live!

I'm not a Greensboro expert.  You may get more wisdom from the forum if you share what you are looking for- type of investing, big goals, etc. You could say why you think Greensboro may meet that vision.  That will give people the opportunity to highlight some pros and cons in your analysis.

@Richard Bader I'm in TN! I'm in Chattanooga. It's awesome being in a fabulous state for REI! People invest here from all over the world, and it's even easier for us since we live here. :-)

Flips are great for cashflow and funds, rentals are key for building net worth!  Props to you for getting to that transition point.

If there's anything I can do to help you in Chattanooga, please reach out!

@Justin Pack A lot of people (myself included!) were of the same mindset before learning (1) how a mortgage (especially at 3.15%!) is  often the cheapest loan you can get (2) how real estate investing is a much better wealth building use of your extra income.

Being in Chattanooga, you're located in a great market for REI! People invest here from all around the world!

@Michael Junior what investing strategy are you looking to do?  SF, MF, flips, BRRRs, STRs, LTRs, etc?  Are you looking to invest in a market that's already demonstrated strength, or bet on something that may or may not take off later? 

The best market would depend on what you want to do.

In the most general sense, of course people are favoring the sunbelt states as the population there grows, and the laws are landlord friendly.  I help investors buy in Chattanooga, TN.  It is a market that's been doing well for years, and continues to exceed national averages in terms of population growth, job growth, and market values.  Is that the kind of thing you're looking for?

@Karen Mizrahi hey Karen!  Congrats on getting started with real estate investing, and having the foresight to look outside your local area.

$50k can be enough to start, it depends on your strategy and goals.  MF will put you at a higher price point, so if you're going for a rent ready MF with a conventional loan, keep in mind you're often looking at 20% down or more.

If you want to stretch your dollars, you could look at doing some sort of value add, like a BRRR opportunity. Keep in mind greater reward comes with greater risk, so you need to be sure it's what you want!

Here in Chattanooga I have a client under contract on a quadplex in the low $300ks that has an ARV around $500k. He's BRRRing with a hard money loan, and will then do a cash out refi. So things like that are possible with $50k!

I would note that if you're new to investing, and investing long distance, and investing in MF with multiple doors, you likely want to use a professional PM and not family (assuming they aren't professionals at this).  Would your family know what to do if a tenant isn't paying rent?  Or how to properly vet tenants?  While there are certainly times self-managing can be okay, MF is a bit more advanced of a PM situation.  The tenants can talk and collude, and I've heard some horror stories come up with that!

@James Williams Are you looking for a certain type of investment, or certain areas within those states?  You're speaking about 4 entire states, that's a pretty large coverage area!  I think you'll get better responses if you can be more specific.

@Matthew Ollis with East Insurance is your guy!  He specializes in investment property policies!

@Craig Morris Welcome to the world of REI! I'm based in Chattanooga. My team has several clients investing in the Trenton area, I'm happy to discuss what's working for them there. There's so much investing opportunity within an hour or two of you, you're fortunate to live in such a great spot for REI!

@Andrew Schlemmer welcome to Chattanooga, it is a fabulous place all around, including for real estate investing! Enjoy!