All Forum Posts by: Jack Norris

@David Olson

Just coming across your thread! I've also been looking into remotely buy and hold investing in Temple. I'm curious if you pulled the trigger and how everything is going. Looking to connect with other investors in the area.

Just PMed you so we can chat more specifics, if you're up for it!

@Jason M.

Curious if you've learned anything further since your last post. I've been looking to remotely invest in a buy and hold in Arlington as well. Lower price point and I've ran the numbers and cash flow seems decent. Not quite 1% rule but I'm not sure if anything in that area is. Could be helpful to share what we know with each other!

Just PM'ed you!

@Shaun Kelly

Hey Shaun! Jumping on this thread a little late, but I'm curious how your properties have been holding up since your last post? I recently came across Temple and ran the numbers on a 4be/2ba SFH built in 2000 that seems to be in move in condition, and the cash flow seems pretty solid. I live in Los Angeles and am looking for a buy-and-hold, seems like an upcoming market not too far from Austin either.

Has vacancy been more of an issue in any of your rentals here given the military / medical presence here? Wondering if that's something to be worried about. Also, how have you projected future cash flows on any of your TX properties with such high property tax rates that increase every year? Another worry of mine.

Hi @Laura Sulak, jumping on this thread a little late but I'd love to hear some things you've learned through your properties in Temple the last 3 years!

From what you said previously, it seems likes the medical/military outlets provide stability in this area + some even commute as far down to Austin? Is this becoming an alternative popular spot for people to live who work in Austin? I just came across a 4/2 SFR east of 317, slightly south of Adams Ave and the cash flow and numbers seem pretty solid.

I live in Los Angeles so it's a little tough to get a read on the area. Feel free to PM if that's easier, would love to chat!

@Whitney Hutten

My goal is to own several properties with tenants paying down the debt; how to best utilize the cash I have is what I'm trying to figure out. Whether i split it up for 4-5 down payments for traditional buy and holds or use BRRRR is where I'm at right now.

For someone brand new to this, the initial buy using cash + hard money in the BRRRR route seems daunting, as well as overseeing such a large rehab project. 

I have a couple of questions about aspects of the BRRRR process. Apologies in advance if these are obvious, I'm still trying to fully understand it.

1. When you first buy, can conventional financing be used with the same lender that you eventually will refinance with? Or do you need to buy without financing in order for this all to work?
2. Does the refinance part require a new down payment?
3. Once you refinance, your loan balance will drastically increase. And your cash flow will decrease. I understand that the point is to pull your money out of the deal and move on to the next, but doesn't this put you that much further from owning the property free and clear?

@Ryan Swan sorry for the confusion, we're not looking to put down $200K as one single down payment, we'd hopefully use it for several down payments over a few years to get several properties. We're just getting started - that's the total we have to invest.

I am interested in the Phoenix market (SFH) and would love to start looking at more deals there.

@Brian Ellwood thanks Brian, appreciate the response.

Makes sense about paying market value and slimmer cash flow through the turnkey route. Right, the BRRRR strategy seems to allow you to pull your money out and also, correct me if I'm wrong, allows you to own the property free and clear much faster?

I know what you mean about being lazy; for someone new to this that's probably why the turnkey route seemed attractive.

So with that said, how do I view or become exposed to off-market deals so I can do this on my own? Without having access to the MLS, is it just a matter of reaching out to property management companies / realtors in that market on my own and getting on their automated listings?

Seems so daunting to try to assemble a crew myself (realtor, GC, property manager) in an area/state that I've never even been to before.

Hi guys,

I'm Jack. I'm looking to buy my first buy-and-hold rental property jointly with my sister in the coming months. We're newcomers to real estate so we've been in the learning phase for the last few months, but hoping to narrow in on something soon.

I'd love to get some of your guys' input given our criteria and where we're at as of today.
I know at the end of the day it ultimately comes down to what our financial goals, risk tolerance, current and future plans, involvement, etc. look like but I'm totally just curious what any of you more seasoned investors think, given the below.

Here's what we're thinking:
- $200K total to invest (50/50 between the two of us)
- Use this money for several down payments over next couple years (maybe incorporate some BRRRR down the line once we've become more comfortable)
- First deal: a turnkey SFH (buy-and-hold) in a decent/higher cash-flow market ($150K-$220K home range; thinking Phoenix, Dallas, Midwest)
- Thinking of utilizing a turnkey company (like Norada or RealWealth) for this first deal since they have the systems/contacts in place and we are brand new to this


Thoughts? Would you use the money completely differently? Different strategy?

I know this is all kind of broad and I'm not really asking anything in specific - just curious if anyone thinks I'm on a solid track here or if I should re-think this completely.


Thanks guys,
Jack