All Forum Posts by: Tanarat Bunchom

Hey there,

Congrats on the possible move! NYC is exciting, and it’s smart that you're thinking about investing early. If you move, renting in NYC and buying an out-of-state property could work, but make sure you have a solid plan for managing it.

If you stay, buying in an affordable market and living there for a while could be a good option. Some cities like Atlanta, Charlotte, or parts of Texas offer cheaper homes with job opportunities nearby.

If I were you, I'd focus on saving and researching markets that offer both affordability and growth. The key is to start when the right opportunity comes up.

Good luck!

Hello, Arun. Richmond, TX, is a great place to invest in single-family rentals. It’s growing fast, has good schools, and offers affordable homes compared to Houston. The demand for rentals is strong, making it a solid option. Just be sure to check property taxes, insurance costs, and the local rental market before buying.

Quote from @Jasmine G.:

I am looking to purchase my first rental property. I currently own my primary residence where I am responsible for the mortgage. My husband on the other hand is not tied to the mortgage and has the ability to obtain a conventional l

loan as a first time homebuyer. However, we’d like to purchase the next property as a single-family or single-family townhome. I’m struggling to find ways to find low money down with average interest rates to purchase the rental home. When I speak to finance institutions, I am only offered non-conventional loans for investment properties which require high down payments and significantly higher interest rates. Right now the market isn’t that great but I could see us looking to purchase a multifamily duplex however, in the current market, I’m finding it difficult to be able to have one tenant cover the cost for that property to break even.

It sounds like you're in a bit of a tricky situation, but there are options to consider. Since your husband is a first-time homebuyer and eligible for conventional financing, you might be able to use his status to buy a single-family property, live in it for a bit, and then turn it into a rental down the line. Alternatively, you could explore house hacking with a multifamily duplex, where you live in one unit and rent out the others. As for finding better financing terms, look into portfolio lenders or credit unions—they might offer more flexibility than traditional banks for investment properties. Additionally, you might want to consider an FHA loan for the duplex if you plan to live in one unit, as it requires a lower down payment and could still allow for a good return on investment. Keep an eye on local market conditions to find the right deal when the timing is better.

Quote from @Johnny Lynum:

If you had the chance to invest in your first property, would you choose a single-family home or a multifamily property? I’ve heard arguments for both, but I’m curious—what’s your preference, and why?

It depends on your goals and situation. Single-family homes are simpler to manage and attract long-term tenants, making them great for beginners. Multifamily properties, however, can generate more cash flow and spread risk across multiple units, but they come with more management responsibility. If you’re open to living in one unit, a multifamily can also be a great house-hacking strategy to reduce living expenses while investing. Ultimately, it’s about what aligns with your budget, risk tolerance, and long-term plans.

Quote from @Rajesh Kasturi:

Hi All, 

What are the best cities to invest in midterm rentals which will cash flow and appreciating year over year? 

Your question is pretty broad. What’s your main goal—cash flow, appreciation, or both? Have you managed midterm rentals before, or are you familiar with the setup and target renters? Adding more details can help get better advice. 

Quote from @Suresh Ram:

Hi Fellow investors,

I have been using BP to gain insights in real estate investing and have been applying them in my townhome rental units. This time i want to enter into multi-family investing and looking for some tips. Any direction from current multi family home landlords are appreciated.

Looking to put down up to $100K in down payment. 3-4 unit homes are my target

1. Where to find multi-family units in South and/or Central Jersey?

2. What are some decent areas with low property tax and high occupancy rate?

3.Zillow doesn't bring me any units, my realtor also doesn't have knowledge on multi family units, what are my other resources you would recommend?

4. Would  you recommend equity line of credit? or 401K loan?

5. Any tips in multi family home investing?

6. How do you calculate the Returns in a multi-family unit?

7. Are utilities paid by individual unit tenants?

Thanks

Ram

1. 1. Check platforms like LoopNet, Realtor.com, Crexi, and BiggerPockets Marketplace. Network with local investors or wholesalers for off-market deals.

2. 2. Look into parts of Burlington, Camden, or Mercer Counties. These areas often balance occupancy rates with reasonable property taxes.

3. 3. Explore county auction websites, local investor meetups, and property management companies for leads on multi-family opportunities.

4. 4. A HELOC can be flexible, but ensure you have solid cash flow to cover repayments. 401K loans carry risks like penalties if not repaid on time.

5. 5. Always verify numbers: check expenses, occupancy rates, and market rents. Focus on properties that cash flow after all expenses.

6. 6. Use the cash-on-cash return formula: (Net Annual Income ÷ Total Cash Invested) × 100. This helps assess profitability.

7. 7. This depends on the property’s setup. Properties with separate meters often have tenants pay; otherwise, it’s typically landlord-paid. 

Quote from @Dennis Knapp:

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $71,000
Cash invested: $19,000

owner occupy double

Sounds like a solid investment! Owner-occupying a small multi-family property is a smart move—you're reducing your own housing costs while building equity and generating rental income. With $19K invested and a $71K purchase price, your cash-on-cash return should be strong if the rental income covers expenses and leaves room for profit. Make sure to keep an eye on property management and maintenance to maximize long-term value. Congrats on the deal. 

Hey there,

It sounds like you’re in a great spot, actively educating yourself and networking, but looking for a bit more structured support. Based on what you're describing, I think a mentor or advisor who focuses more on guiding you through the process rather than just teaching specific strategies could provide the most value. Having someone to help you navigate challenges, anticipate issues, and give you personalized feedback as you build your own path is incredibly valuable, especially as you're just starting out.

While paid options with specific systems might seem appealing, I agree with you that the key is finding someone who can provide ongoing, situational guidance, particularly someone who has experience in real-world application. Keep researching, but ultimately, finding someone who aligns with your goals and approach is going to be your best bet.

Good luck!

Quote from @Ben Mardis:

Hi all! My name is Ben and I am about a month into diving deep on real estate investing education. It's a whole new world to me and throughout the dozen books and hundred podcasts I've listened to so far I've waffled back and forth from feeling encouraged and excited to feeling like getting into the game in my area would be unattainable... and then back to being encouraged. I am a highly motivated individual, however, and I'm dedicated to getting into real estate investing.  If you read all of this I'd really appreciate some candid feedback.

I live in Snohomish County, I'm a Navy Veteran, have a stable W-2 making about 80K/yr after taxes, and have a modest amount in savings. We all know how expensive the market is in the area and this presents a particular struggle for me as I can't just move to a cheaper area. My wife and I are tied to this area due to being in proximity to family and we currently enjoy a farming/hobby farm lifestyle that is a big part of our family culture. Our dream is to have a homestead with 1-2 acres.  Leaving the area for the sake of real estate investing isn't in the cards for us. So, what to do?

I'm feeling most drawn to a buy and hold rental investing strategy and like the idea of the BRRRR strategy in tandem with VA loans, basically refinancing VA loan backed mortgages to conventional loans once there is 20% equity in the home. I also like the strategies outlined in Brandon Turner's "Rental Property Investing" book. The challenge again, is the prices around here. If I were investing in eastern WA, or where my extended family lives in Pennsylvania, those 100k houses in good condition are a real thing there. I have the "Bidding to Buy" book next on my reading list, following by David Greene's "Long Distance Real Estate Investing" book.

I know it's a balance of reality, values, and what makes one happy that guide our decisions. So, we need to make our dreams work here in western WA.  Do we try to just buy a modest house through foreclosure or some other screamin' deal, house hack, then build up our portfolio from there? Apartments are the least ideal living situation for us, so what if we got stuck in a multifamily property we intended to just be in for a short time. How long do we put off our dream of having a homestead?

I hope this wasn't too much of a rant for a first post!

Hey Ben,

I totally get the challenge of balancing your lifestyle with real estate goals. The VA loan with the BRRRR strategy sounds like a solid path, especially for building equity without leaving your area. Since you're committed to staying close to family, I'd suggest focusing on properties that might need a little work but have potential for appreciation in your market. A house hack could definitely be a good first step, allowing you to build wealth while maintaining your lifestyle. It's a long-term game, so don't feel rushed—take it one step at a time!

Best of luck!

Quote from @Shannon Bloomfield:

Hi,

My name is Shannon, and I have been listening to BP for a few weeks now and reading Rental Property Investing, where they talk a lot about BP and the benefits behind being a member. So here I am, just got my Real Estate License and want to start investing next year in both rental properties and flippers so I am here to get advice, network and try to figure how all this works. All advice is greatly appreciated so I can grow and learn and then be able to do the same for others in the future. 

Hi Shannon! Welcome to the BiggerPockets community! Congrats on getting your Real Estate License. Starting your journey with rental properties and flips sounds exciting. Definitely leverage the resources here to network and learn from experienced investors. Don't hesitate to ask questions, and be sure to dive into the forums, podcasts, and other content to build your knowledge. Looking forward to hearing about your progress!