All Forum Posts by: Brian Siedenburg

Thanks for the advice everyone! Debating Ohio vs. sticking around here. I know Greensboro is a growing city and Im also close to Raleigh/Durham. Thanks again!

1 Vote

Greensboro, North Carolina

Quote from @Tatum Littleton:

Hey Brian, good on you for doing some looking and planning early on and asking questions here. There are so many different opinions and mine is just another one of them, so take it or leave it, the beauty of it all is you can do what you are comfortable with and what will work for you!

So, what would I do? If those numbers are correct for MTR, I would do that as long as you can until it doesn't make sense or you get tired of running it (if you are doing it on your own) and save up as much as you can as you said you plan to do. I understand wanting only cash flow now but I would encourage you to see if doing a house hack and having most of the mortgage paid works for you. We as investors need to be creative in the market right now and maybe doing something we necessarily don't want to do will still set us up for success in the future.

Also, shiny object syndrome I understand and have a hard time with that as well LOL, but find what is reasonable and actually attainable, those things will come with time, real estate investing is a marathon, not a sprint. For myself, I would find a nice house hack maybe in Ohio, that seems to be all the rage right now, and have most of my expenses covered (your not paying it totally by yourself and can still save money that way).

But that's my two cents, work hard and have fun doing it. Good luck!

Thanks for your input! I agree, Ohio is not a place I'd ever thought Id live but it seems to be more appealing every day looking at some of the markets.

I also thought about just trying more MTR around here. The gentleman who gave me the most info (God bless him) said he had 3 MTRs in the area all with great occupancy rates and says its a very slept-on strategy in my city and there's a need.

2 Votes

Greensboro, North Carolina

Hi guys!

New here! I live in Greensboro, NC. I bought a primary residence last October that I planned on renting out come this October (next month) and would love some advice from more experienced folks on my next steps, because I came up with a few options.

Im in a bit of a situation where my mother needs some care and she lives ~40 minutes from me. So my immediate plan was to try to rent this house as a medium-term, furnished rental (basically leaving all my stuff here, taking a few select things) and moving in with her for a few months to kill a few birds with one stone - MTR income, not having to pay for a storage unit for my stuff, saving up more money for a down payment, and caring for my mother. I reached out to ~15 people in my area on furnished finder asking for their occupancy rates and a couple responded saying they have 92-97% occupancy rates. I live about 3 minutes from a hospital.

While I did that, I planned on searching for my next place. My initial plan was to do a house hack in whatever market I find appealing. My job is remote so I can move anywhere, and my sister and I have plans in the works for care for my mother so that won't be a factor staying local. Multi-family is a rarity where I live. Any advice on markets? Ideally I wouldnt want to live in a hugely rural area, but dont need to be in a big city either. I was looking at Columbus, GA, Cincinatti, OH, Akron, OH, and a few others.

I should also mention that my main goal right now is cash flow rather than appreciation, because while I love my job, it doesn't pay me the income Id like. I have around ~35-40k as of right now that I could invest. Id rather not touch my IRA or do a HELOC right now if I don't need to, but Im open to it.

But then I get shiny object syndrome and start looking at STR potential in different markets, or maybe trying a BRRRR around here. Just looking for some direction on what YOU would do given my situation.

Thanks so much everyone!

9 Votes

Greensboro, North Carolina

All Forum Posts by: Brian Siedenburg

Brian Siedenburg has started 1 posts and replied 3 times.

Post: New to REI, Would Love Advice On Next Steps

Post: New to REI, Would Love Advice On Next Steps

Post: New to REI, Would Love Advice On Next Steps