All Forum Posts by: Les Z.

Thank you all

@Crystal Smith as of now I only looked at TN where I could find new construction at $280k with rents in the same location starting at 2.3k, which would put me roughly at 0-$200 cash flow.  I was planning to do the same for other markets, just wanted to hear from more experienced people where those are.

@Bob S. could you elaborate on "with 10% or better net cap refi cash out buy another rinse and repeat".  (newbie here)

Thank you all for for the great responses.  Let me check all of those out.  We are definitely planning to visit first before purchasing.

Any thoughts on Nashville or anywhere in IN?

Hi Tanner,

I was going to put down at least 20% to avoid mortgage insurance.  My short term goal was to get 1-3 rental properties and start building equity.  I probably won't change personal residence for the next 3-4 years.

Based on https://www.biggerpockets.com/forums/12/topics/1174137-branc... seems like WA is not the best option.

Makes absolute sense.  Let me do some research on that.  Thank you!

I did think about Detroit since I heard it's been getting better.  Which areas of Detroit would you suggest I look?  It's been 15+ years since I was last in Detroit / Dearborn and back then Detroit was a ghost town.  Dearborn was solid and clean.

Hi all,

I've been looking to invest in rental properties for a bit of time. I am currently located in Illinois (Chicagoland). I looked around this area, however the taxes here range from 5k-12k on typical home which made me look out of state. Condos downtown are affordable, but that adds HOA and taxes can easily hit 8k.

I visited Farragut/Marryville TN.  Houses are still affordable (new construction especially), taxes are low, but I'm concerned if people really rent there (86% owner occupied).  Also thinking about visiting Nashville to check out properties and neighborhoods.

I've also looked at Washington state, but only houses under 500k are in Tacoma (56% owner occupied).  Chicago is similar, mid 400+ for a single or multi family, old construction, highest taxes.  In WA you can get new construction, but that is far away that I don't expect Seattle/Bellevue tech workers to live there.

My boss suggested Pittsburgh (emerging tech hub), my coworker is based out of Atlanta which seems to still have affordable houses and seems to have lots of tech jobs.  I work in tech so I'm naturally gravitating towards areas that have a lot of tech workers (lots of foreign workers renting).

Any ideas?  I can put down up to 100k, maybe even more and I can qualify for traditional financing.