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All Forum Posts by: Ashley Binns

Ashley Binns has started 1 posts and replied 5 times.

Post: I have 120K cash and looking to get started

Ashley BinnsPosted
  • New to Real Estate
  • Bowling Green, KY
  • Posts 5
  • Votes 1
Quote from @Ricardo Hidalgo:
Quote from @Ashley Binns:
Quote from @Ricardo Hidalgo:
Quote from @Ashley Binns:

I am super new to this, but I figured instead of sitting on 120K cash, I should do something with it like invest in my first rental! :D I am looking to do the BRRRR method. I am thinking I need to build a team first and I would like to work with a wholesaler to get started. What is the best way to search for properties? I am open to all and any ideas/thoughts! TIA


 I would focus on lowest entry points on the beach that need renovation. This is one of our strategies in the Panama City beach area. WE bought a few properties and up front 40% after value add and cashflow position. 4-6 week renovation but there are turn key options too!


 We actually have always loved the Pensacola area. We typically go there on vacation and last year, there were tons of investment properties and homes being flipped for short-term rental. In fact, the Airbnb we stayed in was brand new construction with other new homes for sale in an area that was being redeveloped, so I definitely could see myself revisiting that market to see how it's doing today. Looks like you do a lot in Destin. Do you do anything in the Pensacola area as well? 


 I do not do pensacola since appreciation is lower and I am equity investor. In addition, I believe anything past Destin to Mexico beach has better development potential and security. All of the money is moving from 30A to Mexico beach with much better returns and a more affluent buyer willing to spend more money. 


 Ah!! I have heard a lot about 30A and we've done Destin too for our vacations but switched to Pensacola since Destin is getting so commercialized, and I go on vacation to relax, not wait in long lines or be in traffic,  but I can definitely see your point that there is more opportunity in that market for sure when it comes to investing. 

Post: I have 120K cash and looking to get started

Ashley BinnsPosted
  • New to Real Estate
  • Bowling Green, KY
  • Posts 5
  • Votes 1
Quote from @Ricardo Hidalgo:
Quote from @Ashley Binns:

I am super new to this, but I figured instead of sitting on 120K cash, I should do something with it like invest in my first rental! :D I am looking to do the BRRRR method. I am thinking I need to build a team first and I would like to work with a wholesaler to get started. What is the best way to search for properties? I am open to all and any ideas/thoughts! TIA


 I would focus on lowest entry points on the beach that need renovation. This is one of our strategies in the Panama City beach area. WE bought a few properties and up front 40% after value add and cashflow position. 4-6 week renovation but there are turn key options too!


 We actually have always loved the Pensacola area. We typically go there on vacation and last year, there were tons of investment properties and homes being flipped for short-term rental. In fact, the Airbnb we stayed in was brand new construction with other new homes for sale in an area that was being redeveloped, so I definitely could see myself revisiting that market to see how it's doing today. Looks like you do a lot in Destin. Do you do anything in the Pensacola area as well? 

Post: I have 120K cash and looking to get started

Ashley BinnsPosted
  • New to Real Estate
  • Bowling Green, KY
  • Posts 5
  • Votes 1

@Chris Seveney Thank you for your reply. Wouldn't this be based on the market area you're in? If you don't recommend doing a BRRR what would you recommend instead? Love to hear your thoughts/ideas.

Post: I have 120K cash and looking to get started

Ashley BinnsPosted
  • New to Real Estate
  • Bowling Green, KY
  • Posts 5
  • Votes 1

@Jason Wray Thanks so much for your feedback. I am actually in contact with some agents who have some opportunities in my area I'm interested in. Since I posted this, I have learned more about the BRRR method and my next step is to start building my team or at least start having some on my list to contact when I'm ready. I have also learned that when you're doing the flipping part, it seems like you literally become a GC, so that intimidates me a bit, but I'm up for the challenge. I see you are a Lender yourself, so I will definitely keep you in mind.

Post: I have 120K cash and looking to get started

Ashley BinnsPosted
  • New to Real Estate
  • Bowling Green, KY
  • Posts 5
  • Votes 1

I am super new to this, but I figured instead of sitting on 120K cash, I should do something with it like invest in my first rental! :D I am looking to do the BRRRR method. I am thinking I need to build a team first and I would like to work with a wholesaler to get started. What is the best way to search for properties? I am open to all and any ideas/thoughts! TIA