All Forum Posts by: Scott Eranio

I really appreciate the response, especially that last part over-researching an area. Regardless I think I will find growth and opportunity in Texas, weighing a small town may come with some added opportunity for growth but could have more negative effects on quality of life. Thanks a lot Jonathan. 

Hi All, I've been considering moving OOS and hope to purchase my first property. A little background - I'm a nurse and have been hoping to find a market that pays decent when compared to the cost of living and also has high prospects for growth. I was considering NC for a while but the wages for nurses are low. Other states I've considered are GA and TX. Right now, I'm leaning towards Texas. I'm intrigued by Sherman and Denison because of the growth in the area, mostly assured by the semiconductor chip factories being built there. My hope is to househack (living in one unit while my wife and I live in the other- not renting out rooms) and hold the property as an investment. I plan to have $60k in liquid assets to be able to invest. I suppose I'm looking for some reassurance in my plan and maybe have someone point out some things I may not have considered/bounce ideas. Thanks so much in advance.

Hey Josh, really appreciate the positive response. Yeah, I've heard about the new Fannie rules for as lows as 5%.. the conventional, right?  It will definitely be in my top considerations if i can find my strategies align with it. 

Couldn't agree more than your last point you made. “Survey the landscape” hell yeah. Im going to survey it, trim it, cut it, maybe even water it. Much appreciate the reply!

Hello Everyone and Happy Holidays,

My name is Scott Eranio and I have limited background in REI. I live in Boston, MA. I work as a nurse at a local hospital here. I have begun informing myself here on BP through all forms of its media - forums, podcasts, webinars, all the tools available, etc. - it's been great, its influence and development to my strategy has been indispensable.

I am hoping to begin a Buy and Hold real estate portfolio elsewhere in the country, current thoughts are Atlanta or Raleigh MSA. Though Boston is “my” market, it has many barriers to entry and my wife and I are open to a new start elsewhere. The plan at the moment would be to move down to one of these areas when ready (likely summer-fall) and when our current lease ends (currently renting). There I would get a job as a travel nurse while acquiring and house hacking a property, the location would be decided by the real estate purchase, not the job. This way I can maximize my opportunity in my profession, more quickly get revenue to reinvest, and acquire the first asset in my portfolio. With the savings and equity gained in the first duplex I could hopefully acquire another property in the future, possibly continuing the Buy and Hold strategy or pursuing other strategies.

I should have ~$60k saved up for my first purchase. I am going to do a hard reflection on my budget to better estimate how much cash will be on hand. I realize I am a little preemptive in my search, but I strive to be well informed for my first purchase. I am market agnostic by which I would be open to other areas, but I am particularly drawn to the south and a medium/larger metro area at that.

I'd love to meet/get in contact with agents, investors, or anyone willing to share information with me. I am very excited and motivated for this first move.

Shout out to @ScottTrench for his recent The Simple, Repeatable Path to Wealth with Real estate in 2024 episode for encouraging me to write this post!

All the best,

Scott