All Forum Posts by: Reed Vial

@Nicholas Coulter great call. I've never done a BRRR, but have always wanted to. It may be time!

@Brett Deas thank you! I’ve also thought about that as well.

Looking for any insight I can get here! My situation below:

I’ve got 3 rentals houses.

1. House is worth 230k. Have 75k equity in it. I profit $900/month renting 1-yr leases to college students via a property management company. I bought this as a primary home and moved out after 5 years.

2. House is worth 250k. My brother and I have 50k equity in it. This is rented until summer of next year and we plan to also pass this to the property manager once he moves out.

3. House is worth 260k. Have 60k equity in it. We profit $200/month renting 1-yr leases to young business professionals/students via the same property management company. This was purchased as an investment property with 2 partners within the past 6 months.

*these are all based in Louisiana. I am located in Texas.

Curious to see what you would do if you were in my shoes. Is there equity to use that I can be investing in other properties elsewhere? I’ve read about transferring into a trusts, but not very familiar with that. Should I consider rent-to-own? Within the next 1.5 years I’d love to purchase something in Austin, TX to live in and rent out. That’s where my mind is at, but not set.

Thank you in advance!

@Paul Moore Very great advice Paul. I appreciate it!

@Jordan Ray Thank you! Will follow up in inbox.

@Nathan G. Never considered this! Will follow up on inbox.

@Taylor L. Totally makes sense! I appreciate your input.

Background: I own 2 4-bedroom rental homes in Baton Rouge, LA for purely college students (upperclassman) - both profit over $500/month after property management fees.

2 partners of mine and I are looking for new real estate investment opportunities. Maybe we are thinking too small, but we are between purchasing other rentals in areas such as Nashville, Austin, Scottsdale/Phoenix, Palm Springs, Charleston, etc.

Commercial properties are also an option, but residential seems more of a fit for us. Whether we purchase 1 or 4 homes, we will need to pick between a property manager or Airbnb.

From purchasing to operating… How would you go about investing 1 million in real estate? All thoughts are much appreciated (literally anything) - looking forward to hearing from the BiggerPockets investors!