All Forum Posts by: Joshua Eastman

@Lisa Phillips @Joe Mueller As another NYer on this thread, I'm curious about people's experience buying low-cost housing out of state. Still not sold on the turnkey process, as it seems to eat into long-term cash flow, but also think it could be a great way to invest since as discussed, the NY market is a dead zone for most people like myself (full-time career, limited free time to search for elusive deals in the boroughs and upstate).

@Shawn Ackerman Thanks for the details Shawn. I'm in Brooklyn and been contemplating taking online classes to get a license purely for MLS access.

@KL Dolphy I hear ya on BedStuy, I've moved here 3 years ago and been amazed at the prices. Renting but looking to buy, just looking for the right area and property where an FHA-backed loan offer won't be getting swept aside by the all-cash offers.

Welcome Keri-Ann! I'm also in Brooklyn. Looking to buy a multi-family via FHA-backed loan. Not sure how possible it is in this ever-exploding borough. What's your take?

I'm another from Brooklyn looking for a meet up! 

Hey @Laquan Word, welcome to BP, it's a fantastic resource. I'm also in BedStuy, been here for just over 3 years. Currently renting but interested in buying. In your experience as an agent, is it possible to purchase in BedStuy with an FHA-backed loan? I have no credit or income issues, just can't afford the 20% down payment in such an expensive market.

Hey @Cindy Bowman, thanks for the quick reply! We've been focusing on turnkey-type properties to hold for rental income, but if my partner's Dad is willing to help rehab, fix and flip may be on the table. My partner had listen the following areas: Concord, Kannapolis, Morresville, Huntersville, Davidson, and Cornelius, so maybe not focusing on the later 3 would be a good start. 

I'm meeting up with him today to talk more details and will be sure to bring this up. Thanks again! 

Hi all, can anyone provide me with details about the Northern Charlotte, North Carolina housing/rental market, specifically for cash flow purposes? 

A potential real estate investing partner from work recently suggested buying rental properties in this area. It seems to be a healthy, growing market in the medical field, plus his father, a former construction manager, would take care of property management (we live in New York) and help vet the properties we'd be considering, which could help reduce costs.

I did some initial searching online and was a bit disappointed at the prices--many well above the rough 100k mark I'm targeting, and most between 150-250k--because the cash flow opportunity doesn't seem to be as promising as I hoped. Hopefully his father can help identity local deals that aren't online.

Any and all info and advice is welcome. Thanks! 

-Josh

Hey Daniel, welcome. I'm also a working professional in NYC looking to get going in rentals. I highly recommend Millionaire Real Estate Investor by Gary Keller. Good luck!