All Forum Posts by: Pyrrha Rivers

@Elizabeth S. and @David Lee I am trying to get this specific strategy going in DeKalb County, Georgia. I keep hearing from brokers, Realtors and PMs that $30K or under may not be feasible. Well, in addition to my lack of experience, I have yet another hurdle which is extreme long distance. I'm in Japan! I just found out that in addition to not being able to see and touch my prospective holdings, getting money will not be easy. I contacted a lender about getting a HELOC on my personal property which is paid off and although the property is there, I'm a federal government employee with good credit, the answer was that because I am not there they can't help me. I will keep working on that but for now I have to work with what I have which is the $30K and below entry point. Like Elizabet says, I'm jumping in and will learn as I go. Any tips? Can I join this group although I have a great big nothing right now? Willingness to work and learn...I have that! :)

Newbie chiming in here!

As I was reading all of the comments that echo the voice of reason I kept wondering if both duplexes are in the same area and stand to attract the same tenant pool. It makes me wonder how much more you would get with a virtually new duplex if it's in the same neighborhood where others, although not as nice are available.

Maybe my thought process doesn't make sense because I'm too new at this. What I know makes sense is to encourage you to wait a bit because the powerful minds in this forum will give you plentyful and sound advice.

David T.

Thank you so much for your prompt response. It's a bit disheartening because I an a long distance investor and finding that competent and experienced person I can trust is going to be a real challenge.

However, your answer puts me in the frame of mind to do both, keep talking to and looking at the professional companies as well as dig through my personal contacts to see if I can find someone I would trust to do that job.

Thanks again!

Pyrrha

I have been researching and engaging in conversation with a few I found online, but I strongly believe in word of mouth. Does anyone have a property management professional or company they can recommend? My area is DeKalb County.

Thank you for all the help!

Thank you Jerilyn,

I love my teaching assignment as my students are simply very sweet, but need to work on building passive income for retirement. I am very excited and amazed as how quickly people in this community have reached out to me. Experienced, brand new like me and at every stage in between. I am interested in bouncing off ideas and experiences as we go. Best wishes on your investment journey. What are your strategy and target area?

Thank you Jay,

Do you have a good property management company you could recommend? I think that is where I really need to focus my initial team building efforts.

Thanks for reaching out!

Congratulations!

Beautifully done.

Hello Kim,

Welcome to BP! I am brand new as well but can tell you that there aren't enough hours in the day to digest the wealth of knowledge contained here, not to mention the outpouring of help and support this community offers. I don't have much practical knowledge to offer you, but I can say, study hard, come up with your strategy and then ask away. The knowledge that the more experienced members here have is an invaluable resource and they are very kind in sharing.

Best wishes on this new and exciting chapter of your life!

Hi Brandon,

Thank you for the warm welcome and plethora of information! I am spending every hour I'm not at work or sleeping, working on educating myself. (There aren't enough hours in the day). But I am chipping away at a long To Do list that only gets longer as I study. I would say I'm starting to feel like a salmon! But we all know what happens to them when they reach their destination, so I don't want to use that analogy. But I can't think of another that represents the type of perseverance necessary for this endeavor. Any way, like the salmon I will work hard to reach my goals but unlike the salmon I will not spawn and die a week after arrival. I am reading until my eyes are tired and then I listen to pod casts. I have so much to learn! Thank you for all the resources you've made available through this site.

Paul,

Thank you so very much for such through information! I have been working on the first three suggestions you listed and will be reading up on all suggested books. I had not, however thought of sending my daughter to the REIA club meetings! And will certainly be using your suggestion to find that very important Property Management group which is going to be the key for my business.

Thanks again and much success to you!