All Forum Posts by: Chantal Jones

I've been a silent lurker for quite some time now, as I got myself together financially. I finally decided to move ahead full speed with this real estate journey, especially after attending Brandon's 90-day webinar last month. So, I'm all gung-ho and ready to get going, BUT I have a problem. I cannot for THE LIFE of me figure out where on earth I want to begin doing MFH investing with Buy & Hold. And it's hindering me from acquiring funds because I want to begin under an LLC to acquire business lines of credit. But because I don't know which state I want to begin in, I haven't created my LLC yet, thus no funds. So if I happened to come across a good deal, I'm pretty much assed out bc I have no major funds as of yet. I'm from NY, but don't want to invest here in the city as it's not the price point I wish to begin with. I want to invest in a Sub200K area right now that will put me in about a B neighborhood with working class folks who care about their surroundings/block. I want to stay away from Section 8 for now.

As for NY, I've contemplated Poughkeepsie, but I'm not too fond of how the job market/population has been looking. I noticed there was a revitalization plan on their city website, but didn't see any timeline regarding it.

I'm absolutely terrified of Newburgh - I went to visit, and I didn't step one foot out of my car. I did a drive-by for all of my comps in Newburgh. I thought I could handle that city bc I went to college in Philly, and I couldn't possibly imagine anything being worse than the hoods around Temple, but boy was I wrong!!

And then I also have a list of B'more, Albany, ATL, Philly, Pittsburgh...I'm just CONFUSED!! Right now, I'm doing some in-depth research on each city - looking at their Comprehensive Annual Financial Report, checking out the population, job market, who's landlord-friendly, etc. BUT, has anyone gone through this when they were first starting out? If so, what helped you make a final decision?? I don't want to get sucked into analysis paralysis with this.

I don't want to pick any random state, but then end up starting in a different state and have to deal with being a foreign entity. Any tips would be greatly appreciated!! :) 

I've been a silent lurker for quite some time now, as I got myself together financially. I finally decided to move ahead full speed with this real estate journey, especially after attending Brandon's 90-day webinar last month. So, I'm all gung-ho and ready to get going, BUT I have a problem. I cannot for THE LIFE of me figure out where on earth I want to begin doing MFH investing with Buy & Hold. And it's hindering me from acquiring funds because I want to begin under an LLC to acquire business lines of credit. But because I don't know which state I want to begin in, I haven't created my LLC yet, thus no funds.  So if I happened to come across a good deal, I'm pretty much assed out bc I have no major funds as of yet.  I'm from NY, but don't want to invest here in the city as it's not the price point I wish to begin with.  I want to invest in a Sub200K area right now that will put me in about a B neighborhood with working class folks who care about their surroundings/block.  I want to stay away from Section 8 for now.

As for NY, I've contemplated Poughkeepsie, but I'm not too fond of how the job market/population has been looking.  I noticed there was a revitalization plan on their city website, but didn't see any timeline regarding it.  

I'm absolutely terrified of Newburgh - I went to visit, and I didn't step one foot out of my car.  I did a drive-by for all of my comps in Newburgh.  I thought I could handle that city bc I went to college in Philly, and I couldn't possibly imagine anything being worse than the hoods around Temple, but boy was I wrong!! 

And then I also have a list of B'more, Albany, ATL, Philly, Pittsburgh...I'm just CONFUSED!!  Right now, I'm doing some in-depth research on each city - looking at their Comprehensive Annual Financial Report, checking out the population, job market, who's landlord-friendly, etc.  BUT, has anyone gone through this when they were first starting out?  If so, what helped you make a final decision?? I don't want to get sucked into analysis paralysis with this.

I don't want to pick any random state, but then end up starting in a different state and have to deal with being a foreign entity.  Any tips would be greatly appreciated!! :) 

Wow!  Mr. @John Hickey, you are the truth!!  I love your attitude.  I've been a silent lurker for a bit, but I've come across many of your posts.  Always good info.  I decided to give Newburgh a drive through one day after reading some of the comments from BP.  I thought I could handle it because I went to school in Philly, and find that to be one of THE worst cities I've ever been in, so I said, eh how much worse could Newburgh be?!  HA.  As I drove around to the comps I visited, I didn't even step out of my car.  I was beyond terrified.  But I'm glad to see it's working for you, and hope to gain some of that courage you have.

Love the idea of providing space to the local law enforcement for a few months as well!  I hope you all are able to work something out.  You might just end up doing some good for your block!

Yes @Account Closed!  Completely agree.  I've begun to refer to myself as an investor as well because I believe that what you put into the atmosphere is what will come to you, and that you should always introduce yourself the way you want to be seen.  How has your research/journey been going?

Definitely agree with using creative financing.  I plan to make my first investment within the next few months - I'm just struggling with figuring out which city I wish to begin with, as NYC is not within my budget.

I plan to begin with business LOC, but have yet to create my LLC because I'm not too sure which state I want to begin with yet.

For those of you who have used business LOC to invest, did you necessarily tell your bank/credit union the reason you wanted the funds?

I don't plan on using any words reminiscent of "real estate" or "investment" in the title.

I've been interested in investing in the Poughkeepsie market for a little while, especially since I travel up that way for work a bit sometimes.  Right now, I'm doing some research to see which market I want to begin in.  I was a little disappointed to see that the population hasn't really grown in the Poughkeepsie area and that the job market/economy seemed a little down.  I was happy to see the City Center Revitalization Plan when I checked out the city website, but noticed there was no time frame mentioned.

Have any of you ever heard anything more about it through the grape vine? @Aaron K. @John Hickey have you purchased anything in Poughkeepsie since your last post here?

I was interested in the Newburgh area as well, but was literally too terrified to step out of my car once I got there :(  I keep hearing it's a city on the come up though.

Thank you - thank you @Michael S.!  Looking forward to learning as much as possible here!

Actually I just came across the Networking Events section on BP.

Hey!  I would love to find out as well.  I'm in a few meet-up groups within the NYC area, and have only been to one meet-up so far.  Unfortunately, it wasn't quite what I expected though.