All Forum Posts by: Laurieann Frazier-Duarte

Hi Everyone,

So, I live in a location (Rockville, MD) mostly consisting of high-priced properties and find it difficult to consider SFHs for buy-and-hold purposes.  My strategy of interest is with buy-and-hold of SFHs and eventually commercial space. Distressed homes are hard to find, and I am learning that I don't have the fortitude to withstand the rehab process.

My goal continues to be finding residential and commercial (office/conference space) property for rental purposes over a one- to five-year period. To begin, I am considering renting my primary home because the loan is at a low interest rate, and the cash flow, based on comparable rentals in the area, is promising.  Cash flow will be around 1200.00 before maintenance set-asides.

Items of concern are getting to an ARV for appeal due to minor repairs, clean-up, and available cash required to acquire a new place to live.
1. Is it wise to borrow from the equity to make any necessary repairs, or should I delay the rental process until I acquire enough savings in 12+ months?    (Approx. 5 to 7k).  This seems not to be a viable option because there would be an increase in my interest rate.  I believe my home can benefit from minor renovations in the basement bathroom, new laundry appliances, painting, and replacing railings on the home's exterior.  

2.  In finding a new place to reside, I would again require funds for a downpayment on the purchase of a new home or reside in a rental myself until I save up enough funds for another purchase.  

3. A final choice would be to rent the primary in a few months, reside in a rental for several years, sell the primary, and purchase another SFH for rental and a SFH residence as a new primary.

Is this a viable place to begin investing?

Am I on the right track?

Any other things I should consider?

Thanks for any feedback.

Laurieann

@Drew 

@Drew Sygit 

Drew, thank you so much!  Very helpful information and data.  You pretty much validated my concerns with purchasing or rehabbing within certain Class standards.  Part of my vision is to provide rentals in housing properties for those who would love a housing environment but cannot afford to purchase.  Learning how to navigate this is tricky.  I would be willing to risk a higher price point to acquire the "ideal" tenant, however.

I understand that putting in the time and collaboration with like-minded investors is key.  Appreciate this platform, greatly.
Thanks again!

@Nick Belsky

Thank you, Nick.  Very helpful feedback - - I appreciate it.  I did consider the fact that multiples can be complex and time-consuming (which I am leaning away from).  I thought of  exploring duplexes but wonder if this would be a good option as a first-time purchase.

I will certainly consider reaching out in the near future - - thanks!

@Bradley Buxton  

Thanks very much for the feedback. My preference is certainly to stay in my own back yard and to find a SFH, long-term to start. I need to ensure that the rent-to price ratio will sufficiently cash flow as I intend to hold at least 5-years before acquiring any other real estate.

Hello everyone,  I just joined the forum and BiggerPockets Pro.  I am interested in learning more about Buy and Hold properties.  The state of Maryland seems to be a high market for this but I continue to be hopeful.  
Does anyone have advice for the following:
Is it a good idea to explore whether to rent out multiple rooms in single-family residences for the purpose of acquiring adequate cash flow:
Does BiggerPockets Pro provide a way to find demographical data on specific sources and motivated sellers?  Trying to get leads at this point to see where I might be able to solicit for properties.  
Thanks much!