All Forum Posts by: Jazmine Kravitz

Hello all! Just wanted to say that I've seen all responses and appreciate your time and insight. 

@Anthony Catoni Thanks for those lists! I really appreciate it. I chose Indianapolis because I know a few other people in CA successfully investing in Indiana and I also have a friend there who is house hacking. I've seen Indianapolis many many times on the internet/ posts as a great area for first time investors so I decided to just focus hard on this area. I don't have any processes but it was huge for me to know others that were also investing in the same area/ state. 

Hello everyone!

Thanks to all who gave advice on my last post a few months ago! I am diligently moving forward with trying to getting my first OOS investment property in Indianapolis! Current goal: BRRRR a property OR purchase a property or buy a property tenant occupied and rehab down the line.

I'm finding myself really being held up by lending and just my lack of knowledge on all of the options. I was under the impression that conventional lending will not be able to provide rehab loans unless the property is owner occupied. Is this true? If not, can anyone refer any conventional lenders that they've worked with in Indiana? 

I'm looking for any advice on the wisest way to acquire my first property. 

I've been doing a lot of research to try and avoid this post but I'm feeling I really need some more opinions.

Thanks!!

Thank you to all the newly added advice!

@Art MorganThat first question is such a big one that I haven't asked myself! I was initially so turned off by OOS but now I truly feel its the smartest move and I'm just ready to make it happen. So I'm more excited about getting started and fully aware there will be plenty of learning experiences to come. Definitely will be working hard on building my team and I've recently narrowed down my location to more populated areas to help with this!

@James Wise Thank you for such a detailed response! I am super appreciative. I am currently looking into Indianapolis. I was born in Milwaukee (but lived in Cali since I was 9) so perhaps I will eventually consider my hometown! Absolutely love the punch list you provided and will definitely be writing it down/using this along the way!

Hey Anna! I am in the same boat myself except I am also open to SFH as my first rental property. If I come across a good lender I'll be sure to share. :)

So grateful for everyone’s insight! I think my plan will be to continue to seek OOS for my first deal but I think I’ll definitely need to continue narrowing down a specific part of Indiana as well as a team then can go from there.

@Jared Hottle thank you! I appreciate your insight! So many small factors keep teetering decision back and forth but the fact that condos are all we can afford where we live has been the biggest reason for considering elsewhere. I’m sure we’ll learn so much after the first rental but if course no one wants to make a bad decision.

My husband and I currently reside in California have been actively analyzing the Indiana market to purchase our first investment property/ property in general.

I wanted more options on the decisions below before we attempt to make our first purchase.

1. Purchase a value add - owner occupied condo in Cali and rent out after a year. (A condo is all we can afford at the moment) and then invest out of state after.

2. Purchase a few investment properties out of state first then purchase a home to house hack after in Cali possibly 1.5-2 years from now.

I guess my question boils down to: do you think it’s possible for a first time investor to have success out of state or should I focus on something local first? I feel overly confident and am aware of the risks but would love options from other investors. Thanks!!