All Forum Posts by: Lauren C.

@Account Closed You make an excellent point about things becoming "difficult to scale" and I can see how it would be easy to get into that predicament due primarily to anxiety. I've considered MHP for this reason. It seems like being prepared, educated, and surrounded by great partners would be enough to do larger deals initially if it's possible to mentally jump that hurdle.

@Obi I. I'm staying in NYC (so no househacking possibilities). We own a co-op but will likely move to a nearby NY county (Westchester/Rockland) in a few years' time. (Will people pay top-dollar for apartments here after COVID? Who knows.) I see that finding a steady cash-flow market is paramount and I'm trying to avoid analysis paralysis on this (and other things). This book list is great! It's been hard to decide what books to avoid or spend time reading. I've finished about 5 of the BP ones so far.

@Damian Ramirez Totally, I have to look out-of-state. I'll be avoiding the D grade stuff for now, but I see the upside there once I have experience.

Speaking of markets...does anyone have any thoughts on Upstate NY (at least a couple of hours from NYC), Connecticut (not Fairfield county, which is where I am from incidentally), South/Central Jersey, or Pennsylvania? 

Also- I'm thinking more buy-and-hold on the active side, will also do some passive stuff, but I'm primarily focused on the former right now. So, my other question is: Do any of you do both buy and hold (BRRRR, really) AND flipping? I was wondering if it's a good idea to do mostly rehab/rent with a flip sprinkled in for income purposes, at least in the first few years. I know there are tax implications with that.

Grateful for you all!

Thank you for all of your suggestions. Will continue to study up on the aforementioned ideas...the issue is that I am unsure of my preferred niche at this point, but in talking to people on the forums, I think it'll become more clear with time. 

My husband and I recently inherited a large sum of money and would like to begin our RE investing journey. I plan to pursue on a full-time basis. Currently in the midst of learning as much as humanly possible. We haven't quite got enough for accredited investor status, so syndications are (largely) out, though the short-term goal would to establish net worth at $1M (and maximize cash flow, naturally). I live in Manhattan, NY. 

To experienced investors: how would you get started if you had access to this capital? We can afford what newbies would normally consider A LOT of units, but I'm not about to, for example, make a down-payment on a 800K portfolio of multifamily homes in Rochester, NY and screw it up due to (inevitable) rookie mistakes. 

I would REALLY appreciate any ideas! $400K total out-of-pocket is possible at this point.