All Forum Posts by: Taz Zettergren

@Annwar Matani welcome to the forums and congrats on the first post! Like others have mentioned I would recommend getting your feet wet with a turnkey if you're completely new to real estate investing. It's a safer play for the first investment and you can see how the process goes then scale from there whether it be yourself or through the passive route. I know David's book is great about BRRR'ing but it's a lot to tackle if you're trying to do it out of state without a team in place.

I will say if you have a good agent they will have contacts for GC's and property management making it much more passive than a typical project will be. You should check out the Memphis market, it's a great place for passively investing or BRRR'ing. Feel free to reach out if you have any questions. Best of luck on the journey! Let us know how it goes

@Caleb Ripley welcome to the forums and thank you for your service! I've helped hundreds of clients, invest out of state, in the Midsouth and I'm an investor myself. There are several different options whether it be passively investing utilizing some of the larger companies who do all the work for you or more active investment that will make your money go a little farther if you are comfortable doing more work. Feel free to reach out if you have any questions. Best of luck investing! 

I'm dying right now, one of the better phrases I've heard

This is exactly why I'm not a huge fan of the word turnkey, it's more of a marketing word nowadays vs it's actual meaning. I don't consider this turnkey given there's a tree growing into the house. I would remove any tree this size that's within 10 ft of the foundation of the home. The pictures you uploaded of cracks isn't concerning to me, imo those are cosmetic and not affecting the foundation itself, that said I'm no engineer. As others have already mentioned I'd request the seller to remove the tree, fill in the cracks so it's cosmetically pleasing and close the deal if it's a house that matches your criteria. 

@Account Closed at those price points Dallas would be a great market for you. It is a little more challenging to break even on a BRRR in TX because of the property taxes and insurance so you might not be able to pull all your money out of the deal but I wouldn't let that turn you away. TX is one of the fast growing markets in the US so if you have to leave more money in to break even so be it, your generational wealth is growing at a quicker pace.

If you are ever interested in units that provide more cash flow, Memphis would be a great place to look. Best of luck on the search! Let us know how the journey goes 

@Kathy Anderson welcome to the forums and congrats on the first post! It's tougher to makes those BRRR deals pencil in TX because of the properties taxes and insurance (also HOA's since you're in Houston). So flipping might be more profitable for you over the long term, locally. If BRRR'ing is what you want to do places like Memphis and Little Rock would be great options for you. If you need any assistance don't hesitate to reach out. Best of luck investing!

Welcome to the forums @Illya Kravchenko and congrats on the first post! There are thousands of out of state investors who purchase in Memphis because the price points are a lot easier and the laws are landlord friendly. If you have any questions don't hesitate to reach out, be happy to walk you through the ins/outs of the process and market in general. Best of luck on the journey! 

@Pham duc Tai Welcome to the forums and congrats on the first post! If the property has recently been renovated I would definitely buy occupied because it reduces your risk and increases your cash flow right out of the gate. Now if it's been awhile since the renovation was completed then it's likely quite a few things will come up on a inspection so be prepared for that. 

I work with hundreds of out of state investors here in the southern/middle part of the country and there are ample of opportunities in that price range in places like Memphis, TN or Little Rock, AR. If you have 110k in cash to work with then there will be is a high probability you'd be able to BRRR properties here. Of course you have to have a team built out but if you have a reliable contact that has experience then they'll have renovation crews as well as property management. Would be happy to discuss the ins and outs of those markets if you were interested in something like that so don't hesitate to reach out. Best of luck on the journey!

@Jake Benny welcome to the forums and congrats on starting the investment journey so young! Like Jason mentioned a DSCR loan would be the route to go if you're looking to buy a rental. It's an asset based loan so most all the requirements will be dependent on the rent covering the debt so if you have cash but no stream of income it'll be the way to go. Thousands of investors use these types of loans to purchase in areas like Memphis, TN because the prices/rents are favorable as well as the laws.

That said, I don't know your full game plan for the future. A great entryway to real estate investing is house hacking because 1. it gives you a place to live and 2 you're able to experience all the ins/outs of the process while being present which can ease your mind quite a bit especially the first go around. I get that you wouldn't be able to get approved for a loan since there's no source of income but if that's only a short time away you may want to consider saving up and going that route. Personally that's what I did for my first investment and after that I started acquiring rentals in and out of state but you can't go wrong either way. It's all about starting and being consistent. Congrats again for starting so early on, definitely something I wish I would have done. Best of luck on the journey and don't hesitate to reach out if I can be of any assistance! 

@Andrew Stringfield it's not like that in the whole market, but most areas with purchase prices under 80k it is