All Forum Posts by: Alli Breighner

We are looking for purchase our first investment property. The plan was single family home in Las Vegas or surrounding the Phoenix area and our goal is to cash flow. Maybe this is just the analysis paralysis speaking, but it seems like these are not the best markets to invest in as rent has not caught up to mortgage rates.

We are considering pivoting and changing our criteria- perhaps to long distance investing. Before we completely change our strategy, I'd like some insight/ guidance /opinion for investing in these areas.

Thank you!

If you are confident in your numbers I'd see if the sellers have any flexibility and spam offers to the ones that work. With long distance investing you have to build an out of state team and the management can become time consuming/costly. Local markets you will always have more insider knowledge and be able to know cleared what is and what is not a good deal. In the midwest it is also a cashflow came with less appreciation ( in my experience). Good Luck

I agree with @John Clarken, unfortunately there are a lot of factors that come with long distance investing. The expenses add up as well as it taking a lot of your time and effort. I would strongly recommend investing somewhere close by or out of state but in a market that you know like the back of your hand. I've seen a lot of people invest OOS and it has been more challenging due to the added expenses. With that being said, although it can be risky, I've seen it also go very well.

I'd love to hear more about your investment goals and chat!

1 Vote

Phoenix, Arizona

Hey Tucker-

First off, congrats on joining BiggerPockets and for putting yourself out here. This platform has numerous resources to offer so I definitely recommend taking advantage of it all.

I would suggest joining meetups and putting yourself out there to make new connections. Some of the best advice I've ever received has been in person at local meetups. There are various people who are willing to share their stories because everyone has once started off brand new to real estate just like you.

Also, the BP Podcast and books are great as well.

David Greene has fantastic books too. If you're interested, I'd be happy to recommend some of my favorites.

1 Vote

Fort Lauderdale, Florida

Hey Simone!

Congrats on joining BP, this community is incredible when wanting to make new connections as well as wanting to build your portfolio.

0 Votes

Cleveland, Ohio

Hey Hunter-

The BP Podcast and books are very insightful. Best of luck with your real estate journey!

1 Vote

Dallas, Texas

Hey Kelly!

Investing in Gainesville is definitely a great idea, especially because it is a college town. This time of year would be most beneficial as well due to seniors graduating college and looking for rentals close by to campus, their friends, night-life, etc.

That being said, this can be very successful in the sense of having numerous tenants interested in housing in a college town such as Gainesville, but I'd be cautious with who the tenants are. Some tenants could be a nightmare. Overall, I would say investing in multifamily properties in this market is a great choice.

Happy to chat more if you're interested!

1 Vote

Quote from @Neil Cronkrite:

You could pick up comps in better neighborhoods which could raise your cash out refinance opportunity. Don't count on this, but it could happen if you do the proper due diligence. The downside could be lower than market rents, extra maintenance costs, and increased vacancy.

I agree with @Neil Cronkrite. I also feel that the neighborhood is very important as well as the school system. However, in a few years the neighborhood could drastically change as well as the surrounding areas. This property would take a lot of your time and effort but in a few years it could be worth it!

2 Votes

Providence, Rhode Island

Hi Tanner- I personally feel that this is a great idea! There are numerous people that successfully BRRRR themselves.

I agree with @Michael Paling, especially when he mentioned renting out the additional units after purchasing a multifamily property. It's a win-win situation if you also fix up the one you'll be living in as well. It may take a lot of your time, but I do think it can be very worth it if you are quick but efficient.

2 Votes

Welcome to the BP community, Jeremy!

2 Votes

Colorado Springs, Colorado

Hi Jenn!

I agree with Corby, there is no perfect time to invest. Taking action is one of the most important steps when getting started on your real estate journey.

Numerous investors hesitate to take action and wait for the "perfect time" when time and opportunities will continue to pass by.

Take action! That being said, you will want to make sure it is also financially responsible.

0 Votes

Welcome to BP, Kyle! This is an amazing platform when wanting to learn and network.

Congrats on putting yourself out there and joining this community. Would love to chat about your real estate goals.

0 Votes

Denver, Colorado

All Forum Posts by: Alli Breighner

Alli Breighner has started 0 posts and replied 563 times.

Post: Are opportunities in the west gone?

Post: About me - Any Advice?

Post: New member Intro - Aussie investor living in Cleveland.

Post: Part time real estate agent since 2006 looking to become an investor

Post: Thoughts on investing in Gainesville

Post: Thinking of BRRRring in a not ideal neighborhood.

Post: House Hacking a BRRRR

Post: A 'House hacking' lender

Post: Starting or Saving?

Post: Denvers' Newest Investor