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All Forum Posts by: Clifton Frazier

Clifton Frazier has started 2 posts and replied 3 times.

Post: looking to buy out- of- state

Clifton FrazierPosted
  • Riverside, CA
  • Posts 3
  • Votes 3

Hey everyone Im looking at purchasing out-of-state properties due to the fact that I live in Sunny SO CAL and home prices can be pretty high even on foreclosures. Just wanted to get some feedback from folks who have had successes buying rentals out- of- state and what their experiences have been, good, bad or both! Ive been researching and trying to do my due diligence but hearing other peoples points of views and experiences will help tremendously. 

Im looking at places in Birmingham Alabama and perhaps Memphis area as potential places to buy. I would need to find a reliable team such as realtor, contractors etc so if anyone knows of anybody that they would recommend in those areas I would greatly appreciate it. Im also not opposed to looking into some turnkey properties to expand the portfolio. Thanks everyone!

Great thankyou for the feed back Roy and Josh.I really appreciate the quick response!

Getting ready to start my real-estate investing journey but trying to get my questions and concerns answered before I start. So this is a very elementary question (sorry)! If you use the BRRR method of investing for buy and hold, won't it cut into your cash flow for that property? For instance once you rehab and then go to refinance you will end up paying a higher mortgage due to the fact your borrowing more correct? ex: buy property for $100,000 mortgage $568 (roughly ) cash out refinance say for $140,000 new mortgage $757 (roughly ). Pros and cons? Again sorry for the elementary question. Thanks