All Forum Posts by: Joseph Phillip

Thanks so much for your responses! This has been super helpful to reconcile and understand what will realistically work outside of just looking at the numbers

I would be curious if buying land (6-7K sq ft) and putting a new development(4bed 3 bath 2300 sq ft at $130 a sq ft) on it for rental would be a sound idea in the DFW market. I’m looking to hold my property for at least 8-10 years and the goal is to scale my portfolio - I’m playing the appreciation game so no too worried on cash flow.

would love perspective on if that’s a crazy approach for my first rental property vs buying an older home

Hi Patrick - I think the best way to familiarize yourself with a neighborhood is to first visit the area in the day and night to further define what you may call "safe". I then do a detailed analysis of the area (demo, rental velocity, pricing etc) to further solidify if the area is a good place to invest in. 

Looking to purchase my first property in the Washington DC area and wanted to get some opinions here on if you would purchase a condo or a SFH? ideally I would go with a SFH (as it appreciates better) but the price to enter is quite high in the prime areas.

Thoughts?  

@Marcus Koonce might be better off purchasing a primary place first and using creative finance to fund your investments

Also I would just buy books - go on YouTube and dive right in to get some experience.

@Fred Watson I would wait until you build in some equity into your duplex then would look to potentially leverage a HELOC to invest in another property

I would be careful though as you don’t want to over leverage yourself

@Demarcus Crump a prefabricated house that you can build on the property

@Max Sherman have you thought about clearing the house ans putting up a prefab - you can get a prefab for less than 50K

@Russell Brazil thanks for this! It’s probably better to try to find an off market row home around Navy Yards or across the river