All Forum Posts by: Lauren Perry

Welcome to BP!  I'm in Eugene as well, with similar goals. I've done a few deals here in town but they're hard to come by (as you know) so considering moving out of state.  Best of luck to you!

Thanks to all for the great responses.  I do hesitate to get rid of a property here that I know I'm making money on, but it's also tempting to tap into 100% of that equity rather than allow some of it to sit in the property.  

As for the remote locations, I've considered Indiana and Michigan because I do a fair bit of traveling there for work and know that I'll be able to check in on the properties periodically and meet with my team on the ground.  My current rental is less than a mile from my home but I can't tell you the last time I drove by it.  Having a great property manager has made that a completely hands-off investment and my hope would be that I could manage another property remotely. Perhaps I've just been lucky but one can always hope!

Thanks Marisa!  I've considered Detroit as well but have been discouraged by some friends who live in Michigan and seem to think it's too risky.  That said, they're very conservative people so I'll take another look.  Are you flipping or holding your properties there?

@Steven Rubino Looks fantastic! What a transformation. Congratulations to you and good luck on the next one!

Hi all, Looking for your advice as my husband and I get ready to launch our real estate investing to the next level. We have recently decided to sell our home and move into a flip property we rehabbed. This decision was reached to allow us to reduce our housing expenses and pull the equity out of our current home to use for new investments (and to avoid the capital gains on the eventual sale of the flip). Once our home sale goes through, we’ll have approx $75k in equity to use. We also have a rental property in Oregon that is cash flowing and has approx $100k in equity. I work a FT W-2 job and my husband has a self employed consulting business. Assuming we just have the equity from our current homes to work with, what strategy would you employ to maximize passive income? We are interested in the BRRR strategy but housing in our market is quite expensive and In short supply so we’re considering sellIng our Rental and doing a 1031 Exchange to invest in a less expensive market like Indianapolis. Does this seem prudent? Would you invest in multiple single family units or try to find a multi unit property and acquire more doors all at once? I realize it all depends on the deal and the specific market, just wondering where you guys would lean given the resources I have to work with. Feeling a little uncertain with all of the options out there but we’re anxious to get started and grow our passive income! Thanks for any and all feedback.

Welcome! Having done a few rehabs now while working a full time day job I can tell you that I’m leaning more and more towards having someone else do all of the work. And I work in the home improvement industry! I have nothing against sweat equity but time and sanity are worth something too. I’ve found that for the time investment it requires, I really don’t save that much doing it myself since I’m less efficient than the pros are. Good luck!

I have 1 rental here in Oregon but am looking to start investing in Indiana as well. Would love to compare notes.

Walter Roby jr Yes, I’m familiar with Bend. Great area. I’d be interested to know more about your deal

Thanks @Luka Milicevic and @Larry Fried.  I'll message you.  I'd really appreciate your insights.

Thanks @Jacob Wathen.  Good advice.  I know of a couple of wholesalers in the Eugene area but not as many as in some of these other markets so I'd love any referrals you might have.  

To answer your question about my experience in the other cities, I lived in Nashville and still have family there so I feel very comfortable in that market.  That said, prices have really climbed in recent years so I may have missed the boat on that one.  I travel to Indianapolis regularly for work and have quite a few contacts there, so that's appealing in the sense that I could visit several times a year to check in on things.  Michigan is the market I'm least familiar with, but I also have family there and some connections to some property managers in the area.  

None of these areas are as comfortable for me as investing here at home where I'm much more familiar, but it's hard to argue with the cost of entry in some of these other cities.  I want to be careful with not jumping in someplace too quickly, but I also don't want to sit here over-analyzing everything and never make a move.