All Forum Posts by: Madison Holbrook

 Provo is about 1.5 hours no traffic. 

If I did multi I'd be in an fha loan and would have to live there.

Its a veryyyyyyyy secular and religious place. Very judgemental, critical, and harsh environment. To the point people would cause trouble just knowing were not their religion. It's a serious thing when you get into "the valley." Being a single mother I wouldn't find a job and I wouldn't be able to property manage myself without potential problems.

I literally got left a copy of a bible and the reasons I need God. Can i post pics on here? I kept it hahah it's horrible. It was tailor fitted for me 😂

I do keep my eye on ogden! It's a long but doable drive.  That area has duplexes pop up. rent is lower by several hundred but the way the population is spreading, those cheap spots will get taken. Some spots have gang activity but I know them enough to be able to avoid the pitfall.

I'm watching areas of Idaho/WY for future mfh 2 or 3 years down the road. I wouldnt live in WY due to air so I'd need the 20% down for some financing other than fha since I won't be doing owner occupancy. 

Washington I won't have a hard time finding a job. The areas im watching are cheaper in some spots. I loveeeee bellingham but it is pricier I'm looking for its suburbs. Its so gorgeous there. Thats the holy grail dream. Looking at all my options. Pay is approaching 40 for a brand new nurse without a bachelor in my specialty. I won't be brand new and I will just shortly have my bsn :) Utah is 25 starting and costs of living in the salt lake city region are very similar to Washington. 

Goals! 

Unless the investing is cash pay under the 15k, its gonna have to be mfh in utah and that's gonna be fha.

 If I found somewhere in my state for a multi family in my price range that made sense, no hesitation I'd do that first. I'm watching both. 

I'm walking all the properties that have open houses. I watch what they sell at and then rent for. I'm doing due diligence.

I'd like to also look at the cash markets such as detroit. I've watched those as well but not a lot of detail on how the flipping is done. 

I have other savings. I have retirement, childs education, 6 month emergency (which is actually in a high yield account of 2.45%), and have under 15% credit utilization set to be paid off in 6 months.

This is a separate savings pool that I started this year in January for this purpose. 

 No, that's thing. I don't want to relocate to house hack initially. We will move a year or two after I graduate. Either to Washington or another state with very clean air. I'm trying to build enough personal wealth to have that freedom and ability to finance a new home construction. My daughter has severe and degenerative  breathing problems. I'd be specifying certain building materials and protocol in order to build a safer healthier home for her. 

Where we are has horrible, horrible air. The pay is not catching up to real estate costseither. But I'm going to build a years experience in my career field before applying out of state for easier job placement, financial stability, my daughter will be older and school age by that point. 

I would do a house hack for a year in utah on a duplex, triplex or fourplex. Even with 75% of the rentals income counted into my new salary i wouldn't qualify for what that home price range would be here. 

Thus wanting cash owned properties.

I love detroit for a buy and hold as well as a cash flow property once rehabbed. 

Thanks everyone. I’m aware of my states market. Sfh away from our main city are still 350k. 

In our main city they are easily approaching 500k. Again for a sfh. 

Definitely not rushed lol. All this is still a year away. 

Looking out  at the mid west for what exactly? Mfh or cheap 15k houses? 

hello, I have been reading the forums, articles, and recommended books.

I'd like some opinions. 

I'm a single mother, with a year left of nursing school. I am looking to invest in real estate and reach financial freedom by 35 (I'm 25.)

I'm not sure the best way to go about this. 

Currently my income is about 24k due to being in school. After it will only by 46k to start more than likely. 

I would like to house hack using fha loans. However, the market I live in is quickly emerging into a housing crisis area. I live SLC, utah. I do not think i will be able to afford a four plex under 600k. I will continue to watch and research. 

I am wondering about markets where housing is very cheap but rent is ok such as 650+ with room for growth.

What cities/states other than detroit are cheap? 

Has anyone who is not a detroit resident purchased a home from the building detroit land bank? They seem to have gotten a monopoly on the properties under 15k and I'm not sure if I could buy from them under an LLC?

If I'm buying cash, which if I could purchase a home under 15k I would, I will do so with my llc.

I haven't made one yet but I will when I start my investing.

What other cities have property that low? 

If I bought a property cash for between 10k up to 15k, would it be hard to get a home reno loan of 15k (or around that mark)?