All Forum Posts by: Natasha Rooney
Natasha Rooney has started 16 posts and replied 49 times.
Post: Recommended Resources for Estimating Rehab Costs/Info on Rehab Costs
- Posts 50
- Votes 36
Hello!
We are just getting started and trying to build a solid foundation before jumping in - hopefully in the new year. I know that SO many things will be learned about rehabbing a property during the first time we do it. However looking for resources about estimating rehab costs and knowing what is important and what is not. I know this is also area dependent regarding costs and what people are looking for in a place.
However, with all that aside, can anyone recommend any good books, YouTube channels, blogs, etc. about estimating rehab costs? Looking for something more recent. Most books I have seen were made pre-covid and I know lots of things have changed!
Thank you for your time!!
Post: Interested in learning more about markets in Arizona
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- Votes 36
Hello! New investor here and have been learning so much from reading all the posts on BP!
I am interested in learning more about different markets in Arizona (Phoenix, Tucson, and surrounding areas).
I know prices have been steadily increasing over the past few years. I also know Arizona is fairly investor 'friendly' and has fairly low property taxes.
Interested in purchasing small multifamily properties (2-8 units) depending on the property and numbers of course. Looking for decent cash flow or appreciation or both.
Thoughts on Arizona?
Post: Starting Out - How to Narrow in on a Decent Market
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- Votes 36
Quote from @Marcondes Franco Da Silva:
Hi Natasha,
I am in Calgary and have been investing here in Alberta for about 5 years and I am, also, going south to expand my business.
Let me know if you would like to connect to chat about it.
Post: Starting Out - How to Narrow in on a Decent Market
- Posts 50
- Votes 36
Quote from @Anthony Therrien-Bernard:
Quote from @Natasha Rooney:
Quote from @Jonathan Klemm:
What's up @Natasha Rooney! What market are you currently in, and why no interest?
The main thing I am looking for in a market is the right team! Someone is making good money in every market. I am a biased fan of Chicago, Illinois, because of the awesome real estate community here.
Outside of just a good community, I love Chicago because:
1. In the city, there is a plethora of old multi-family properties that need to be renovated at all different price points
2. In the south suburbs, there are tons of great single-family cosmetic flips
We do have winter, high taxes, and crime, but like anything else there is pros & cons to everything.
With the right team, you can be successful in any market...focus on networking and figure out where you might have a competitive advantage with some boots on the ground.
Hello, thanks for the comment on my post!
I have pretty much zero interest in the market I am currently in - its WILD haha Canadian housing has no potential to provide positive cash flow. I am currently in Calgary, AB and used to be located in Toronto - real estate in Canada is nuts.
Sounds good! Yes, I think a good team is crucial to being successful in any market and you're right - people are making money in every market. I think we may focus on somewhere in the midwest and plan to make trips out when purchasing and to meet people and network first.
Do you mainly do business in Chicago then?
I am not sure where you are looking but I live in Calgary and I've been finding cash-flowing properties for over 10 years
Really?! We are in Calgary as well haha I'd love to meet up and chat sometime over zoom or in person!
Post: Thoughts on Alabama as an initial spot to invest?
- Posts 50
- Votes 36
Quote from @Jenn Richardson:
Quote from @Natasha Rooney:
Quote from @AJ Exner:
Quote from @Natasha Rooney:
Quote from @AJ Exner:
Hey Natasha,
It is a great place to start, plenty of inventory whether its for flipping, BRRR-ing, or holding at affordable prices while still having decent rents (with or without section 8)
With that, it is a pretty competitive market. I would make sure you have a good team ready to go and be ready to pounce whenever the opportunity presents itself.
From the lenders perspective, it can be kind of tricky because there are plenty of properties that cash flow well, but even fully-rehabbed they are less than 100k, which make them difficult to lend on. I am aware of a few options, but you would need to be aware before you get in too far to level with expectations.
Good luck!
Thanks for the insight!
I see that you are a lender - any input about getting financing as a cross-border investor? (I am Canadian)
Thanks!!
Do you have a credit score here in the US? Might have a few options for full leverage there, but if not, likely sitting at around 65% LTV on anything long-term/DSCR
No credit score in the US! haha I know it puts me at a disadvantage but I think its still workable.
You can get financing for american properties through most of the big 5 banks in Canada. They use your Canadian credit score to qualify you. Last time I borrowed it was min 20% down, I went with RBC USA bank. They also charged a decent interest rate at the time (2011) which was 3%.
Awesome, thanks!! I will look into that!
Post: Thoughts on Alabama as an initial spot to invest?
- Posts 50
- Votes 36
Quote from @AJ Exner:
Quote from @Natasha Rooney:
Quote from @AJ Exner:
Hey Natasha,
It is a great place to start, plenty of inventory whether its for flipping, BRRR-ing, or holding at affordable prices while still having decent rents (with or without section 8)
With that, it is a pretty competitive market. I would make sure you have a good team ready to go and be ready to pounce whenever the opportunity presents itself.
From the lenders perspective, it can be kind of tricky because there are plenty of properties that cash flow well, but even fully-rehabbed they are less than 100k, which make them difficult to lend on. I am aware of a few options, but you would need to be aware before you get in too far to level with expectations.
Good luck!
Thanks for the insight!
I see that you are a lender - any input about getting financing as a cross-border investor? (I am Canadian)
Thanks!!
Do you have a credit score here in the US? Might have a few options for full leverage there, but if not, likely sitting at around 65% LTV on anything long-term/DSCR
No credit score in the US! haha I know it puts me at a disadvantage but I think its still workable.
Post: Thoughts on Alabama as an initial spot to invest?
- Posts 50
- Votes 36
Quote from @AJ Exner:
Hey Natasha,
It is a great place to start, plenty of inventory whether its for flipping, BRRR-ing, or holding at affordable prices while still having decent rents (with or without section 8)
With that, it is a pretty competitive market. I would make sure you have a good team ready to go and be ready to pounce whenever the opportunity presents itself.
From the lenders perspective, it can be kind of tricky because there are plenty of properties that cash flow well, but even fully-rehabbed they are less than 100k, which make them difficult to lend on. I am aware of a few options, but you would need to be aware before you get in too far to level with expectations.
Good luck!
Thanks for the insight!
I see that you are a lender - any input about getting financing as a cross-border investor? (I am Canadian)
Thanks!!
Post: I'm new investor in the North Carolina area
- Posts 50
- Votes 36
Quote from @Samara Huntley:
Hey Christian,
I am a born and raised Charlottean and having great success for my investors and I In the Submarkets of Charlotte. Where there is still meat on the bone so to speak. Gastonia, Kannapolis, Concord, Monroe, indian trail etc. are some of the hottest fastest growing suburbs where there is still room to get a "deal".
Would love to be a resource, feel free to reach out with any questions at all. I'm a licensed general contractor as well so anything construction related as well give me a shout!
Hello! I just came across this post and am looking to start my investing journey in NC. I'd love to chat!! I'll send you a DM.
Post: I'm new investor in the North Carolina area
- Posts 50
- Votes 36
Quote from @Ace Kaspar:
Quote from @Christian Chamboneth:
Hi my name is Christian I'm a new investor looking to invest in the North Carolina area. I lived in Indianapolis I would like to move some day to North Carolina any recommendations of the best cities to invest or zip codes. I would like to understand more the North Carolina market and their trends. Looking forward to connect and I'm offering my help as well to anybody that need it.
HI Christian,
NC is a great area to invest and ever growing so you picked a great place for it.
There are a few great cities that come to mind:
- Charlotte, NC
- Raleigh, NC
- Chapel Hill, NC
- Ashville, NC
- Emerald Isle, NC
I have lived in NC for 29 years and always happy to chat. Feel free to DM me to connect and hope the hunt goes well.
Best,
Ace
Hello!
I just saw this post from a couple years ago. We are considering starting out OOS investing journey in NC. I'd love to pick your brain and chat if you're open to that! I'll send you a DM too.
Post: Thoughts on Alabama as an initial spot to invest?
- Posts 50
- Votes 36
Hello!
Anyone have any thoughts on Alabama as a potential market?
I know it is landlord friendly, low tax rates, affordable...
Any insight?
TIA