All Forum Posts by: Melissa Justice

@Linda Luna,

Welcome, Linda! It sounds like you’ve got a great mix of curiosity and motivation - perfect for starting in real estate. I would highly recommend starting with turnkey long-term rentals which can be a smoother entry point than STRs for a few reasons:

Immediate cash flow: Many turnkey properties come pre-leased, so you start earning income right away without the wait or marketing effort.

Lower hands-on management: LTRs are easier to manage remotely than STRs, which require constant turnover, cleaning, and guest coordination. You are essentially in the hospitality business..

Financing & risk: Lenders are usually more comfortable with LTRs, and the income tends to be more stable, which helps build equity and credit for future investments.

Foundation for growth: Once you have experience with LTRs, building a team, managing tenants, and understanding local markets, it’s much easier to branch into STRs or flips if you want to diversify.

There are plenty of turnkey LTR options in surrounding markets in the Southeast where cash flow can be stronger and the learning curve gentler. Starting here can help you grow confidence and experience before taking on the more time-intensive STR market.

Excited for your journey - happy to connect if you want to talk about what's worked for other investors. Best of luck!

@Diane Ben,

Welcome, Diane! Congrats on your first rental - that’s a huge milestone. Managing a duplex yourself is a great way to learn the ins and outs of real estate investing firsthand.

Since you’re looking to grow your portfolio in the next 1–2 years, a couple of tips from other investors:

Networking: Connecting with local investors in Colorado can help you find deals, lenders, and property managers when you’re ready to scale.

Out-of-state opportunities: If cash flow in your area is tight, some investors look at turnkey rentals in the Midwest or Southeast. These can come pre-leased with property management in place, so you start earning income immediately without the day-to-day hassle.

Keep learning: BiggerPockets resources are gold, but also consider local meetups or online masterminds where you can ask questions about specific markets and strategies.

You’re off to a strong start! Excited for your journey and happy to connect if you want to swap ideas or strategies. Best of luck!

@Blake Armstrong,

Welcome to the community! Cash flow is definitely key when you’re self-employed, and the good news is that there are plenty of opportunities to get started without needing tons of experience.

A couple of thoughts:

Local REIA: Dallas has several active REIAs where you can meet investors, lenders, and property managers face-to-face. That's a great place to start building your network.

Mentorship: Learning directly from people who are actively investing will save you from costly mistakes. Don’t be afraid to reach out to experienced investors on here.

Strategy: Since cash flow is your focus, you may want to look into turnkey buy-and-hold rentals in landlord-friendly states (Texas, Midwest, Southeast). Some of these are even new builds that come pre-leased, so you start cash flowing from day one with property management already in place.

Always happy to share what has been working for investors in different markets, including TX. Best of luck!

@Muhammad Yasir,

Hey! Welcome to the community. It sounds like we’re aligned in the Texas markets. My team actually has some new builds already pre-leased in Houston, Dallas, and San Antonio. These properties are fully managed as well - so they’re ready to go without the typical headaches of rehabs or tenant placement. Our builders also offer incentives to be used towards rate buydowns and cash back post-closing. 

If you’re interested, we should definitely connect and chat about these opportunities, the neighborhoods, and how we structure the investments. Happy to exchange insights and explore potential collaborations! Best of luck!

@Cody Miracle,

Hey! welcome to the community! Given your situation - active duty military, moving every few years, and high local home prices - an out-of-state investment could make a lot of sense. There are markets in the Midwest and Southeast where your dollar goes much further, and you can find turnkey rentals that are tenant ready with property management companies in place. That way, you don’t have to manage major rehabs or local tenant issues yourself.

House hacking locally could work too, especially if you want to build equity while you're stationed in San Diego. But keep in mind the costs are high and cash flow may be tight, so your returns might be smaller unless you're doing some creative financing or leveraging VA loan benefits.

A common approach for someone like you:

Use a local property for house hacking if you can get good value and it fits your timeline.
Simultaneously explore turnkey out-of-state rentals in cash-flow-friendly markets for long-term hold.
Build a network of trusted property managers, property source providers, and contractors before you move - this is key for out-of-state success.

It really comes down to whether your priority is convenience and simplicity now (house hack locally) or building long-term, higher cash-flow assets (turnkey rentals out of state).

Always happy to chat more about what's worked for other investors in similar situations. Best of luck!

@Alexis Martinez,

Hey! Welcome to the community! I’d focus on starting small and building experience without getting overwhelmed. For someone just getting started, turnkey rentals in the Midwest or Southeast can be a solid way to jump in - lots of cash flow, lower purchase prices, and strong long-term hold potential. You can even start out-of-state with a good property manager in place so you don’t have to stress over day-to-day management.

At the same time, run numbers on a few flips or rentals in your area (or nearby markets) to see what makes sense for you. Networking with investor-friendly agents, property managers, and other beginners is huge - learning from their mistakes is worth more than any book.

Keep it simple, focus on cash flow, and don’t be afraid to start small. The goal is to build experience and a system that lets you scale later.

Always happy to share what's worked for other investors and the markets they're leaning towards. Best of luck!

@Marissa Meza,

Hi there! Excited to hear you and your husband are starting your real estate investing journey. A great first step is to define your goals - are you looking for cash flow, long-term appreciation, or a mix of both? From there, you can start researching markets that fit your budget and strategy.

Since you’re just getting started, turnkey single-family rentals in Midwest or Southeast markets can be a smart option. They often come leased and cash-flowing, and some even offer incentives like cash back at closing or builder contributions toward rate buydowns if you’re considering new builds.

Also, connecting with property source providers, property managers, or other out-of-state investors can save a lot of trial and error. Even starting small with one property and scaling as you learn the ropes is a solid approach.

Happy to share more about what has worked for other investors. Best of luck!

@Jakub Rauch,

Congrats on getting ready to make your first long-term rental purchase! When looking for stable cash flow and moderate appreciation, you’ll want to focus on markets where property prices are reasonable compared to rents, the job market is growing, and the cost of ownership (taxes, insurance, maintenance) isn’t too high.

Some areas that have been strong for out-of-state investors include:

Midwest:
Cleveland & Akron, OH

South: 

Suburbs of Houston, Dallas & San Antonio

Southeast:
Birmingham, AL
Memphis, TN
Atlanta suburbs like Griffin & Forest Park, GA

These markets tend to offer turnkey or new build single-family rentals that cash flow well, and some even come with builder or developer incentives that can help with rate buydowns or even cash back post-close if you’re buying new builds.

If you’re new to out-of-state investing, I’d suggest focusing on properties that are tenant ready. Having a solid property management system in place is key as well, and many turnkey providers in these markets already have that.

Always happy to share more about what's worked for other investors. Best of luck!

@Rebecca Speeks,

Welcome to BP and congrats on diving in! The fact that you’re already enrolled in a program and looking for mentoring and partnerships shows you’re taking action, which is huge.

My advice would be to use this community the same way you’d use a mentor: ask specific questions, share your numbers, and don’t be afraid to learn from other people’s wins and mistakes. You’ll get a wide range of perspectives here.

If you’re still hunting for your first opportunity, you might want to explore markets where the entry price is lower, but cash flow is stronger - often in the Midwest and Southeast. Turnkey rentals and new builds in those areas can be a great way to start since they come with property management already in place, which lets you focus on learning strategy and scaling without being bogged down in the day-to-day.

Excited to see where your journey takes you - this is definitely the right community to grow in! Always happy to share what is working for other investors and specific market info. Best of luck!

@Vasudev Kirs,

You’re in a fantastic position - no debt on either condo, solid rental income coming in, and now a pile of cash sitting idle. That’s a great problem to have! A few thoughts to help you map out the next steps:

1. Clarify Your Goal First
Are you aiming for cash flow (monthly income)?
Long-term appreciation/equity growth?
Or building a scalable portfolio over time?

Your financing and property choice will look different depending on which matters most.

2. Cash-Out Refi vs. HELOC
Cash-Out Refinance: Gives you a lump sum upfront.
You’ll have a new mortgage payment on the condo.
Best if you want a big chunk of capital right away and plan to buy multiple properties.

HELOC:
Works like a credit line - you borrow only what you need, when you need it.
Payments are interest-only (at least initially).
Best if you’re buying one property now and want flexibility later.

Since you already have rental income and low expenses, a HELOC might be the more flexible move, especially with rates still elevated. You can pull only what you need for a down payment and keep the rest untouched.

3. Down Payment Strategy
You don’t have to put more than 20–25% down unless it makes sense for the numbers.
Extra down payment = lower loan balance = lower monthly payment, but it also ties up capital you could use for more deals.
Often, it’s better to leverage (use financing) and spread your capital across multiple properties.

4. SFR vs. Multifamily
SFR (single-family rentals): Lower maintenance, easier to manage remotely, larger pool of buyers if you ever want to sell. Great for turnkey long-term investing.

Small Multifamily: Better cash flow potential, economies of scale (one roof, multiple rents). But management and tenant turnover can be a little trickier.

Since you already have condo rental experience, a small SFR in a stable market might be the easiest next step. Once you’re comfortable, you can scale into small multifamily.

5. Other Ideas
If your condos are in appreciating areas, you could also consider a 1031 exchange down the line - selling one and rolling those gains tax-free into a bigger, cash-flowing property.

Look into turnkey SFRs in the Midwest/Southeast where $30–50K down can get you into solid cash-flowing rentals with professional management already in place.

Bottom line:
Use a HELOC for flexibility unless you want a lump sum for multiple deals (cash-out refi).
Don’t sink too much cash into one property- leverage smartly.
Consider SFRs in strong cash-flow markets first, then expand into multifamily later.

Always happy to share more on what markets are working for other investors. Best of luck!