All Forum Posts by: Christopher Roome

Looking for an agent local to and familiar with the Greenville SC market. Out of state investor looking to add rental properties in 2024. With 56% of home occupied by renters and Greenville being ranked a top micro city and top economic potential city, the transportation system, low unemployment rates and a 27% population growth over the last decade, the area is where I am looking to build and expand my income property portfolio. 

Thanks everyone! So just to clarify I currently own the townhome as my primary but i need more space so i am looking to purchase a single family to raise my expanding family in. I have enough capital for a 20% downpayment and can get a traditional mortgage on the new home if i can lock in renters. I will need to get about 3k minimum a month in rental to cash flow and get approved for the second mortgage which i think is very doable in the market i am in. What isthe benefit/is there one of taking out a HELOC on this property if i already have the capital to put down for a traditional 30?

The only way i would sell the townhouse is if I had to to get the mortgage for new single family primary. With over 120k equity in the townhome after i recoup down payment i put on it im wondering what best course of action would be. 

Ive never been a landlord before (property is in an association so limited property management on my end) so i have a lot of those beginner fears flying around. I have so many people telling me to take the money and run but i just cant see any value in that with what im currently sitting on.

Im also obviously new to the entire real estate game so the whole having 2 mortgages is daunting to say the least but running the numbers a low end rent of 3k will still cash flow me between 4-500 depending what i put aside for vacancy and capital expenditures (low due to association)

Hey everyone! I'm just deciding to get into real estate. I'm in a position to buy a house and keep my townhouse and rent it out as an income property and while researching all of this I've come to the realization that real estate is my ticket to gain freedom. I live in north central NJ. I have a good amount of equity in my townhome and am looking to either HELOC or cash out refi and using that to buy another property. Im unsure about investing near where I live since I will already have an investment property there or look for a better market (prices are astronomical here). Im also back and forth between a BRRRR or turnkey. My aim is to have 2 properties than move to multi family. Any advice on markets/strategies for my situation? Excited to start this next chapter and connect with people, just RSVP'd to my first meet up!

Ok thanks, for your advice. I appreciate it 

I’m brand new into the real estate game and have a question about my current situation, and also a question about an investing strategy. 

Due to life events I'm being forced to upgrade out of my townhome, which I currently own and have about a 135% ROI after I recoup my down payment. I have enough capital for roughly 15-25% down pending on cost. My dilemma is what to do with townhouse. I'm torn between renting it out for a monthly cash flow of a few hundred or selling and using the capital to purchase other properties. I have only a couple people in my life knowledgeable in real estate and none that I am really that close with.

I've been researching a lot into what niche I would like to start in and I keep coming back to purchasing bank owned properties on auction and re-listing slightly below value for a quick sell or minor repairs and quick sell. Would selling the townhouse and using the capital to start this venture be wise or should I use a HELOC on the townhouse while it's being rented out to help fund this venture and why?

Thanks to anyone in advance, I’m trying to learn as much as I can but I don’t have anyone to ask questions to!

-Chris