All Forum Posts by: Jane Wish

Can't Wait!

Congratulations, Anthoney! That's amazing. Great job and hopefully many more to come!

Hello, everyone! I'm Jane and am new to BP. I am looking to purchase my first out-of-state rental property later this year and came across a promising tiny house (2 bd, 1 bath, about 500 sq ft.) in Athens, GA for under market value and wanted to get some opinions on whether or not it would be a good property for me to BRRRR or Airbnb. A lot of the homes I am seeing in the area are valued at about $100K+, but they are much bigger and the tiny house in question is the smallest on the block. I have $30K to invest towards my downpayment, rehab, and closing costs. Ideally, I am looking for a property that meets the 1% rule and can get me $100-$150/month in cash flow, since I plan to continue working full-time as I build my portfolio.

So my questions are: Would this tiny house work as a BRRRR? Is it worth it for me to try to expand or fix up and get it appraised to refinance? And if not as a BRRRR, would it be good as a short-term rental? I noticed that it was less than a 7-minute drive from the Athens airport, University of Georgia, Sanford Stadium, and the Tree That Owns Itself, etc. - all hot spots that could potentially be good for visitors.

Would love to hear your thoughts on all of this. Thank you!

Hello, everyone! I'm Jane and am new to BP. After saving up for the last few years, I am finally ready to purchase my first out-of-state investment property. I came across a few potential properties in Mishawaka, IN and was hoping to get some insight on whether or not it would be a good area for me to find a property to BRRRR. A lot of the homes I am seeing are valued at $100K+, so I was planning to find a fixer-upper below market value to rehab to be appraised later for a refinance. I have $30K to invest towards my downpayment, rehab, and closing costs. Ideally, I am looking for a property that meets the 1% rule and can get me $100-$150/month in cash flow, since I plan to continue working full-time as I build my portfolio. As this will be my first property, I would like to stay away from any D class or Section 8 properties.

So BP, is Mishawaka, IN a good place to start? If so, do you recommend (or not recommend) any particular areas? I would also be interested to know what type of renovations I should focus on to bring up the value of my home.

Thank you for reading and hoping to hear from you!

Hi Brock! I am in the same boat as you. I am working on building my capital as well and would like to know the ways in which I could help put in "sweat equity." Alas, I am not very good at DIY or equipped for any kind of manual labor...

Hiya! Just joined the forum as well. I'm from Queens and looking to attend some future NYC network events as well. Let's connect!

 Forget the 2% rule? What about the 1%?!

Welcome to the forums! I'm also from NYC. Woohoo~ Good luck.

I am also new to real estate investing and am hoping to get my first deal within the next year. I would like to use the BRRR method so that I can continue to buy more properties, but I am a bit confused by all of it. So you would recommend doing private money for the first deal and once it is rented, to refinance the property, repay the private money lender and use the remaining amount to put a down payment on the 2nd property? Am I understanding that right?

I think a good rule of thumb, in general, is to listen to your gut feeling. It's there for a reason. There are plenty of other fish in the sea and it will rent!