All Forum Posts by: Kyler Wright

 Hey Nicholas, thank you for your response.

I was definitely planning on house-hacking for my first property, which I should have mentioned. Do you think I should look at duplexes in particular for my first to simplify the process, or would it be smarter to look for multi-family homes with 3 or 4 units? 

Hello Everyone!

I live about an hour away from Birmingham AL and I have decided it will be the market I begin my portfolio in. I would love to know more information on the market so that I can reach for a specific amount of capital needed for my initial costs to purchase and maintain my first property, such as... 

- how long (when priced correctly) does it typically take to have tenants vetted, moved in, and paying rent in the market

- outside of the down payment, closing costs, inspection fee, and appraisal fees what should I expect or be wary of when purchasing?

- where do I find out specific information on a property's HOA fee's?

- what are the typically the rates/costs of these fees(appraisal, inspection, etc.) in Birmingham 

*due to my lack of annual income, assets, and fresh credit, assume I used a DSCR loan because that will most likely be the case in my position*

Any answers or additional information on building my portfolio, purchasing my first deal, different financing methods outside of a DSCR loan, or the Birmingham market in general will be greatly appreciated!

I would love to talk further with any agents, investors, lenders, etc. familiar with the market.

Thank you, 

Kyler

 Thank you for your feedback Meghan! I'll definitely check it out.

Hello everyone, I am only a month into my REI research and education and I've been trying to consume as much as I possibly can. After listening to many hours of podcasts and reading a few books I am understanding just how important finding a good market is, and I have a few questions about how to conduct my research...

Also, I am planning on taking the fix and flip (house flipping) approach to begin with hoping to build capital for my future rental portfolio.

Q: What are specific stats and data I should research for every market I am considering to compare them, and find which is best for me? 

Q: How far away is considered "okay" as a beginner trying to find a market?  

I am currently 1 hour away from Birmingham AL which is the biggest city within an hour of me so that was what I assumed I would start with. But, I have heard that Huntsville AL is one of the best cities to invest in due to it's rapid growth but it's 2 hours away from me and I'm not sure if that would be too far to have as my first market. Also, I'm not sure if Huntsville is considered a good market for rental properties only or for both strategies.

Q: Are markets that are good for buy and hold rental properties directly or inversely corelated to a good fix and flip market? Or are they not corelated at all?

Any and all feedback will help! 

Thank you!

Kyler Wright.

Hey Andrew, I currently go to Jacksonville State University studying Manufacturing Engineering with a concentration in Management and I'm entering my senior year. I live in Oxford which is about an hour away if you aren't familiar and I'm also beginning my REI journey. I'm still trying to learn as much as I can and I'm hoping to find a mentor soon but I'm also trying to surround myself and build up my community with people my age with some of the same goals like yourself. It'd be great to stay in contact as we both continue on and who knows, we may end up partnering on a deal in the future!

I hate to hear about your injury Cade. But I know from also playing collegiate sports (at a much lower level haha) that you have the mentality to achieve great things. I am located about an hour away from Atlanta so maybe we could be in touch in the future as we both continue our real estate investing journey!

Hello! My name is Kyler Wright and I attend Jacksonville State University. My freshman year in college I ran track at the University of Mobile and then transferred to Jacksonville St. University to study manufacturing engineering with a concentration in management.  I recently started my journey to achieving financial freedom a little over a month ago and it has been amazing. I started by reading Atomic Habits by James Clear and it was a great starting point for me personally (I would advise anyone who hasn't read this to give it a go!) and ever since I have been reading, learning, and listening as much as I can to educate myself on real estate investing and more specifically fix and flips so I can begin building my capital. I am really hoping to find a mentor  in the Birmingham/Oxford/Gadsden or any near areas I can assist and in return gain education as I continue my journey!

Thank you!