All Forum Posts by: David Wood

No, I understand. I was thinking 60k of purchase price with approx. 10-20k of rehab costs.

Thank you all for your support and the information! I do think that I may either have to incrase my purchase cost limit or change my areas of interest to different cities/towns. KC and Birmingham AL certainly do seem appealing, and I will conduct more research to shoot for my first purchase in mid-2020 or late-2020.

I will do my best to take educated and calculated risks, but not stuck in the analysis paralysis.

Again, thank y'all for your support!

Thank you everyone for the advice to stay away from Morris Invest! I have been only listening to his Youtube so far. He was the one who sparked my interest in real estate, but I honestly want to learn the process and know-how myself via BP and mg own experience.

I just did the search on BP and saw how terrible the properties were. I will stay away from him. With that being said, I would like to hear you guys' opinion on the research process/resources. :)

Hello,

My name is David, and I am currently an Active Duty in the U.S. Army serving overseas. I do not have any prior real estate experience, but my goal is to learn how to retire from my 9-to-5 job within the next 5-8 years via long distance BRRR strategy. I am listening to BP videos and Morris Invest via YouTube, and looking through various posts here at BP. "Long Distance Real Estate Investing" by David Greene has a lot of good sutff, and I had to replay so many times to regurgitate!

My current short-term goal for the next 6 months is to reduce my liabilities from unnecessary credit card debts, while focusing on learning how to really commit to financial discipline. My goal is to start looking for deals 6-8 months as I will have more flexible funds month-to-month by then.

I want to know how you guys started out doing market research, and the resources that you are using. These are the list of resources that I am using when I'm looking through the markets for the areas listed below. I want to hear if you guys have a set process and/or better resources that I can use. At glance, it seems like College Station and Fort Gordon areas are is too expensive to get in, and Fort Gordon area (especially Grovetown) shows high crime rate. I am not sure if I am looking at the data correctly, but I think the first two areas are not too expensive for my criterion. What are your thoughts?

House Search Criterion:

- Purchase approx. <$60k, not exceeding $100k per unit

- Looking for rental property with cash flow of $400-500/mo.

- SFH/duplex/four-plex

Platforms:

- rentometer.com (for rent rate est.)

- smartasset.com (for property tax est.)

- county tax records via web

- bestplaces.net (for economy, job growth)

- Trulia/Realtor.com (for crime rate, users feedback about the area)

Markets Considering:

1. College Station/Bryan, TX

2. Fort Gordon/Martinez/Grovetown/Hephtizbah, GA

3. Fort Hood/Killeen, TX

4. Suburban areas in Dalls/Fort Worth, TX