Quote from @Tanner Sortillo:
Quote from @Jordan Ray:
Quote from @Tanner Sortillo:
I work with investors in the Phoenix market and had a conversation with a new investor the other day. He has $100k liquid set aside for investing and asked my advice on where he should start. He's comfortable waiting until the new year (post-election) or move forward now for the right deal.
I thought it was a great question and worth opening a thread to get some other opinions and input. Knowing how the market is now and where it's trending;
Where would you start and what would your approach be if you were a new investor with $100k set aside for RE investing?
Man! $100K can get you so many properties with leverage in Memphis TN! I bought a deal 2 months ago with $1100 out of my pocket and I am in the middle of the refi now! Happy to connect if your interested in Memphis TN!
Hey Jordan, seems to be a theme of purchasing in cheaper markets! Out of curiosity, how did you manage to purchase a property with $1,100 out of pocket? Personally, I'd pay with cash or utilize hard money and obviously the market in Memphis is very different than in Phoenix, but I don't think there's any way investors could get something for that much out of pocket down here haha.
Man it was a steal, got it off market from another local agent I work with that knows I buy, used Avalon Capital's hard money loan which is 100% purchase/100% Rehab. I bought it at 60% of the ARV and it was a 22K rehab. Then paid the Hard Money points using my commission and $5,000 in concessions. Guess you can say its an anomaly but good deals are out there!
