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All Forum Posts by: Felix Lilly

Felix Lilly has started 12 posts and replied 24 times.

Hey guys. 

I just got accepted to MCPHS medical school in Boston, Massechusetts. What I want to do before September (when the school year starts) is find something like a 4 or 5 bedroom house and then live in one of the bedrooms and rent the other bedrooms out to other medical students. Personally I am not sure what investing out of state looks like, and I would truly feel incredulous if I could get help from any of you amazing friends here on bigger pockets! Maybe you know someone who knows someone? Let me know! 

Thanks! 

Post: Looking for my first investment property

Felix LillyPosted
  • Posts 24
  • Votes 26
Quote from @Arn Cenedella:

@Felix Lilly

what is the biggest obstacle in your way?
how long have you been thinking about buying out of state?


Arn

@Arn Cenedella the biggest obstacle in my way is knowing what steps I need to take exactly so I don't fall into debt. I have been wanting to buy (anywhere) for about 3 years. I would love to get an investment property before too long so I can start building equity and getting a good stream of cash flow. 

Post: Looking for my first investment property

Felix LillyPosted
  • Posts 24
  • Votes 26
Quote from @Bradley Buxton:

@Felix Lilly

How much capital do you have to employ because if you buy in all cash in theory it will cash flow. In Reno, NV there are new builds that cash flow with reasonable down payments because of the incentives to buy down interest rates. Nevada does have low property taxes which also help with cashflow.  Your strategy will also change your yield.  

@Bradley Buxton would you recommend investing in Reno? is the ROI high over there? I can't pay entirely cash for a property yet, I'm just wondering to get started. You know what I mean?

Post: Looking for my first investment property

Felix LillyPosted
  • Posts 24
  • Votes 26

Hey bp. 

I want someone to help me find a property or apartment that will yield me a return on my investment. I do have some up front capital. I live in Oregon and I am familiar with it here; however which ever state has the best return on invest I am open to the idea of investing out of state as long as it will cash flow. What would all of you recommend? If there are any of you who already own apartment buildings or properties (?) I would love to hear from you! 

Thank you. 

Post: Looking for my first property

Felix LillyPosted
  • Posts 24
  • Votes 26

Hello Bigger Pockets. 

For the last few years I have been looking for my first property in the greater Portland area. I am wanting to ideally find a single family house with a few bedrooms so I can rent out additional rooms to my friends who are looking for housing. Vancouver WA is probably going to be the best bet for where I am looking for properties in. This would be my first time buying a house. I think FHA is the best way to go about all this, and ideally I want to find a place that already has tenants living in it. Thank you all for your help!

Felix Lilly 

Post: Trying to begin househacking.

Felix LillyPosted
  • Posts 24
  • Votes 26
Quote from @Khalid Haynes:
Quote from @Hamp Lee III:

House hack using the Neighborhood Assistance Corporation of America (NACA) loan program.

NACA was formed in 1988 and provides an affordable option for potential first-time buyers:

✅ No down payment

✅ No closing costs or fees

✅ No mortgage insurance

✅ No consideration of credit score

✅ Below market fixed interest rate

There are several requirements to be eligible, starting with attending one of their workshops.

https://www.naca.com

I wish you all the best.


 This sounds interesting I'm going to look into this myself. I'm looking to house hack. 


 Yes please, I would like to know more about this program as well. Thank you.

Post: Trying to begin househacking.

Felix LillyPosted
  • Posts 24
  • Votes 26

I am looking to invest in real estate for myself. Currently I am 26 and am working in healthcare. I wand to begin creating equity for myself and building my real estate portfolio. I am wondering what my first properties should be for investing in. I work in Portland OR, and would like to find a property to invest in in the greater Portland area. Prices here are quite high, but I am wondering if perhaps I should invest in a one bedroom condo first using a 3% down payment. That way I can start building my equity and possibly find a roommate to help subsidize my mortgage payments. 

But again, the hardest part for me is getting started. That's why I am posting this today so I can find some answers and possibly make some in person connections with other real estate investors. Thank you for reading this posting, and thank you in advance for your time.

Felix Lilly 

Quote from @David Ramirez:

Wholesaling takes time and effort, and finding deals and negotiating can be tough. Networking helps, but it still requires a big investment of time and resources like marketing, prospecting, and building relationships.


 Good advice David. Thank you.

Hey everyone. I am a very busy undergraduate medical student and I really want to find a way to make a return on investment for my money put into real estate. I am living in the Portland area, and I have already signed up for my first REIA. I know wholesaling is a good way to make a profit without a big input of time. What is the best way to get experience in wholesaling? Would my attending the REIA be of benefit to learn how to do that? Thank you all.

I would love to join the RE investor group in Portland as well, please! I grew up in Portland and I have been interested in real estate since before the pandemic. I really want to find more groups and REIAs to be a part of as I go through life. Thank you Corinna in advance for including me in this group! 

Felix Lilly