All Forum Posts by: Raina B.

My 2018 goals are: 1. Finish renovation on my first property which is my primary and get the vacant floor rented out as well as setup Airbnb for my floor! 2. Purchase my second property which will be a multifamily 4 units or higher. 3. Continue learning about real estate and connecting with other investors.

@Joshua D. I tried to look up Port Huron on citydata.com but that information was based on more so of the population. Where would you recommend I could find the information on job growth, besides the city’s website? @Troy Young I’ve been seeing some projects on the river as well. I was told that there are some pretty rough spots with drugs are those changing over yet? Do you have any recommendations in getting started in this market?

@Joe Villeneuve You are very right. I need to re-evaluate my expectations as an out of state investor. Have you invested out of state without a partner before, if so what steps did you have to take not only get the deal but to keep I­­t?

Hi all! I was driving around a neighborhood I am interested in investing in and I saw a lot of signs that said for rent and for sale. This is in Port Huron, MI is this a good or bad tell of that market?

Joe Villeneuve The time I was referring to is the boots on the ground literally the running round and making the connections, the sweat equity that I guess an investor would want on my part of the deal. Now I understand about the Brrrr thank you for clarifying that as well as the cash downpayment part. Thank you for your explanation.

Brian Adzadi thank you I have been thinking a lot about just waiting until my primary closes first. Especially since I do need funding for my closing cost as well. Joe Villeneuve I’ve thought of doing a partnership however I dont have the time to offer in trade of the equity due to my job. As well as I know very few investors or even people who could invest. In regards to the dp being leveraged, does I­­t always have to be cash that you provide? How would this situation work with the brrrr method then. If you don’t mind explaining please.

@Brian Adzadi The 6 unit would be for strictly rental income. Since my cash is tied up I was thinking about asking for owner financing for the downpayment and then the bank loaning me the rest. There are already tenants living there and paying rent. So there is an income to show off of I­­t.

Hello BP family! I am currently in the process of closing on my first primary residence which is a FHA 203k loan. I was in contract in early September, and hopefully will close by the end of this month and then still need to do the renovation portion of I­­t. With that said I’ve been studying the market that I work in which is a hour flight from home for me. I’ve reached out to an agent told her what I️m looking for: multifamily units on the riverfront, which she has been sending to me diligently. I am making I­­t a practice to analyze the deals that look good. I am almost finished with listening to all of the BP podcast as well as the Book on Rental Properties, and watched a couple of webinars. I am now making a list of property managers in the area as well as other folks I would need on my team. I’ve recently came across a 6 unit property on the river that was in my price range and I­­t had room to add value. I ran my numbers they seemed correct I’ll probably be posting I­­t here soon just to double check! I like I­­t I want to make an offer for owner financing the downpayment and the bank the rest of the financing. However, I️m in closing and all of my money is currently tied up in that house and waiting for closing to happens and the closing cost. What should I do?

Hi I️m completely new to all of this and seem to have a similar debacle with raising capital for a downpayment. Could crowdsourcing also be a possibly good option in this case. Especially if you don’t have a track record that hard money lenders may need?

This is exactly what I'm going through in Westchester County, NY. One house I looked at the taxes were literally 28k. That's ridiculous especially when you drive 5-10 min to the better side of town and they are suddenly 8k.