All Forum Posts by: Parker Massengill

I can't speak for everywhere, but here in Raleigh, with the low interest rates, there are way more buyers than sellers so everything on the market is selling very quickly. 

There a lot of Fayetteville investors here, and I'm sure many of them can give you more info than me, but I am somewhat familiar with the area and I know it's a good cash flow market. It's a stable housing market because of the military base, so there are always renters coming into the market. 

50k is a pretty good amount of cash, you should be able to pick up another flip with a Hard Money Loan. That's probably what I would do. 

Hey Kevin, I'm familiar with myhousedeals.com. They allow pretty much anybody to post there, so some are going to be legit deals and some might be full of it. Think of it kind of like craigslist, you can find good things there, but be cautious. 

Hey Francis, unfortunately, all of the "gurus" out there saying you can get into real estate without using your own money are pretty misleading. It takes a good amount of capital to get into any sort of investing and real estate is no different. You have to come up with the capital somehow to get started, even if it's not out of your pocket, and that takes relationships. One of the best ways to get started is to use an FHA loan with low money down and buy a house hack. The good news with being a college student is you should be able to easily rent out your rooms to other students. Just do your best to screen them well and find roommates who will respect your property and not trash it.

I agree with Odie, those terms sound bad. There are a ton of reputable hard money lenders out there so you should be able to find something far less sketchy. 

Hey Gabe, I think your plan is a good one. House hacking is a great way to start without a ton of risk. I don't know the Kansas City market but in my market, it's really hard to find duplexes (or tris, quads, etc.) so that might be one of your biggest challenges. Finding a good agent or wholesaler who can help you locate the right property should help you a lot. Joining and posting in local REI groups is a good place to start looking for referrals.

Good luck!   

Hey Avery, welcome to BP and the Triangle area! Durham is a cool town with a ton of opportunities for investing. Don't hesitate to reach out if you have any questions. 

There are a lot of avenues for finding good deals, but one that works pretty well is finding a good wholesaler. Admittedly, I'm biased because I wholesale, but I really value the relationships I have with my buyers and I try hard to bring them deals that they want. There are a lot of wholesalers out there but if you find a good one they should be bringing you good deals pretty regularly. 

@Connor Riddell welcome to Raleigh! I've been here in Raleigh for about 7 years so if you have any questions as you transition feel free to reach out to me.