All Forum Posts by: Robert Boyde Jr.

Hey all!

My Girlfriend and I got started in real restate investing via house-hacking in 2021 and 2022. We both currently own duplexes in the greater Nashville area. Our progress has slowed a bit and we have decided in order to jumpstart our momentum in purchasing units to move on to a BRRRR strategy via private money. We are researching markets and reading through these forums to decide on a landing place for our first purchase. So far we feel like we are being called to Birmingham.

 We would love to begin networking with some agents, investors, property managers, contractors etc. in the area that are you using the same strategy and see if we can gain some contacts in the area to talk to and work with! I'd love to hear any experiences or feedback you have in the Birmingham market or any advice you'd like to give! Or if you just have great experiences in Birmingham we'd love to hear about that too!

Hey all!

My Girlfriend and I got started in real restate investing via house-hacking. We both currently own duplexes in the greater Nashville,TN area (Springfield and Ashland City). My girlfriend purchased her duplex via FHA back in September 2021 and her owner occupancy requirement has ended. Right now her mortgage is just under $1400 a month with her currently leased unit renting for $1150. Once she moves out she plans to rent the both units for $2400 total. I purchased my duplex earlier this year via VA in August with a $1750 mortgage and my leased unit renting for $1400 a month. Once my owner occupancy is up I could rent both units for $2800 total. We both paid around $18,000 out of pocket to purchase these properties/rehab. While the potential outlook on these properties looks good, we feel stuck/at a loss of momentum. Due to rates my girlfriend can not refinance out of her FHA loan (her rate is in the low 3's) and more than likely it does not have the appreciation to get a cash out refinance or HELOC. And since my owner occupancy doesn't end until August 2023... it feels like we are stuck.

So my question for all is some advice. Have you experienced this? What did you do to get past it? What would you do if you were us? 

We are aggressively working to our next step. Right now we are currently looking at moving to private money and trying out a BRRRR in the Birmingham market. Any recommendations or lessons learned would be great!