All Forum Posts by: Felicia West

Hello,

As a beginning investor, what down payment amount would you suggest if doing a traditional mortgage?  Of course, putting more down like 30 % would make it look like the property cash flows well, but is it worth it to put that much down, or is 20 or 25% down better depending on which gives you a better interest rate?  Thanks!

Hi Mitch!  I am considering Nevada, Washington and North Carolina.

It does seem that foreclosures may be better to pursue once I gain more experience.  Perhaps short sales are a little bit easier.

Thanks so much for the advice.  I agree that gaining exposure is a good idea before moving on to the harder areas of investing.

That’s great to know.  Yes, I think our goal is at least break even right now, and hopefully in a few years the rents will be higher and the property will have appreciated well.

I think that’s great advice to think long term, which is what we would be most comfortable with.  Thank you so much for your help!  If there’s any other advice you can pass along that you think of, I’d greatly appreciate it.

I am thinking more rentals. I suppose it would be possible to do the BRRRR strategy but at this point in time, I don't have a ton of time to oversee the rehab. I know that this is how most money is made in real estate by trying to force equity into the property, so I hope to be able to have time for it one day soon.

That's a great point about it being higher risk because you are unable to see the property. Do you think it is still possible to make some money on deals on the MLS that require little to no rehab?

Maybe I will save the foreclosure pursuit until I get a little more experience.

thanks for your response!

Hello! I am starting out in my real estate investing journey and was hoping to see if fellow investors recommend pursuing short sales, banked owned properties and foreclosures, versus pursuing typical MLS properties or off market properties with distressed properties or sellers. For those who have invested in short sales, bank owned or forclosures, how did you go about doing this and are there any tips or recommendations you can give? Thanks!

Hi Bradley.  Thank you for the reply and the information.  Sure, I would be open to speaking with you to learn more about investing in the area and to ask more specific questions.  Thanks!  Felicia

Hello, would a multifamily property of 4 or more units in Stateline Nevada near Lake Tahoe be a good place to invest or is it too seasonal there?  Would a recession be very likely to affect profits with such an investment?