All Forum Posts by: Christopher Fougere

@Roy N

It's ironic when you say in your country - since I moved here from Halifax in 2001 lol.

Another option might be to do a turn-key type of deal out of state where prices are lower and my initial investment goes farther??

This is helpful thanks!

Unfortunately that's the price for playing here in VT.  Property near my home county is expensive.  As it is I am only looking at properties outside of the main "metro" area and are in smaller "cities" of about 10,000 residents.

Let's say my median price for a duplex is 250k. Using the calculators on BP factoring in the vacancy/reserves/taxes etc - I can expect to make a monthly cash flow of 250-300. Do I drain my cash on this first property, or do I use my HELOC, do I look for a partner etc. I want to be able to grow this portfolio and don't want to make a mistake right out of the gate that is going to make it more difficult than it needs to be to grow.

Thanks - I understand that part, I'm sorry I should have added what would be your strategy starting out assuming you had these options.

I'm 40 now and would like to start acquiring more properties to supplement my retirement income and perhaps retire early (55).  Assume positive cashflowing duplexes (250/month after reserves/maintenance/vacancy/taxes etc) cost ~250k here in VT

Thanks!

Newbie question, assuming 250k duplex with 25% down requirement.(62k)

Cash reserves are currently ~45k

70% LTV in my current home is 92k.

How would you finance this first buy and hold?  Does it matter where I pull the cash from?

Self managing from a distance?  That must be challenging!

I'm Chris, a work at home software engineer looking to get started in the buy and hold market in VT.  I don't think flips are really a big thing in this state, at least I'm not aware of many people that do them.

Long term goals are to be able to acquire enough properties to be able to retire at a modest age with income to supplement my 401k which I continue to contribute to healthily.