All Forum Posts by: Taz Zettergren

@Kylie A. It's overwhelming when you try to put all the pieces together at once in your head and then you get paralysis analysis, anxiety etc. It's something we all have faced at some point starting out. I'd recommend sitting down daily and writing down every single action steps that will help you get closer to your goal and mark each one off as you go. The more action you take the more experience you get, in this business you're going to be told no 1000x more than you will be told yes. So never waste a failure, learn from the no's and how to attack similar conversations or situations differently in the future to give you a better chance at success. There are so many opportunities out there in the real estate industry, stay active and engaged. If you have someone you look up to in your local market that's successful do everything you can to sit down with them and pick their brain on creative action steps to take.

Best of luck on this journey! It is a tough one but it's very rewarding once you get into a groove of things

@Juan Carlos Correa I would recommend looking at areas like Memphis, Little Rock or Oklahoma. Not only is the yield strong but values are growing in these areas as well. I would recommend being cautious when looking for cash flow, any market you look at the lower the price the more challenged the area so in return your paper cash flow looks amazing but actually experiencing that month over month is a completely different story. Personally I focus on the more consistent areas that are stable over time, so I do give up some of that paper cash flow but in my experience the actual return is greater because of the consistency it provides. You can find high quality assets around that 150k and above price range but I'd be careful around that 100k mark.

Best of luck on the journey! Let me know if I can be of any assistance

@Ximei Yue welcome to the forums! BRRR'ing is a great strategy to build equity but it's a riskier play and time intensive if you're trying to do it out of state. If you have the time and effort to build out a team of a investor friendly agent, contractors and a property manager then it's a very viable option but in todays time there will be very little to no cash flow. But again it's a great way to build equity and recycle that money.

There are some turnkey providers that are vertically integrated that might be of interest to you if you want to invest passively. Companies that purchase the home with their own money, renovate them, sell to their investors and manage for them on the back end. This is also a great way to build long term wealth especially if you're investing in higher appreciating markets like Texas. Let time do it's thing over 5-10 years, you can take advantage of the tax benefits in the meantime then 1031 exchange into lower cost, higher yielding markets to achieve those goals.

Great thing abotu real estate is if you have the capital you have options and options are always good. Everyone's goals are going to be different it all comes down to what it is you want to do and how much time and effort you want to spend. Best of luck on the journey! Feel free to reach out if I can be of any assistance

@Saurabh Kukreja If you're able I would make the down payment from out of pocket right now and refinance both later then add a third. It all comes down to your goals and if it makes financial sense as to which direction to go

@Anthony Colachicco If I were in your position I'd get into a multi family and house hack if possible. You should be able to get into it without putting 20% down since you'll be living in the unit. This is the best entry point for a first time real estate investor because you will live right next door to the units while also managing. This enables you to get your feet wet while seeing how the experience goes and once you get that settled in and you're comfortable with your processes then I'd start branching out into other investments whether it be local to you or out of state. 

Best of luck on the journey! Let us know how it goes and which direction you choose

REI Nation has been around the longest and is more diversified in regards to markets (full disclosure I help dispo deals for them), there are a few more that are Memphis or maybe Little Rock specific. MidSouth homebuyers and Memphis Investment Properties

@Joey Samudio I would definitely recommend visiting the market you're wanting to operate in and more importantly meet the team you'll be working with. Either route you choose to go down it all comes down to the team you have and the systems and processes they have in place. If you do go the BRRR route I'd definitely recommend using a general contractor and working with a investor friendly agent.

Give Memphis a look, tons of opportunity to do it yourself and turnkey providers that have been in the game for a long time. Some are even offering interest rates as low as 4.75% for a 30 yr fixed loan. Best of luck on the journey! Give me a ring if I can be of any assistance

@Pradeep Varghese welcome to the forums! I work with a few hundred clients who prefer the southern/middle part of the country because of the price points, laws and numbers. Areas like Memphis, Little Rock, Texas and Oklahoma. Feel free to reach out if you have any questions.

Best of luck on the journey! 

@Damon Albers hate to hear you've had a rough start in your real estate journey. If you've personally seen the applications and trust what they're doing on the front end to screen these residents it seems like this is an anomaly, at least for the 38128 property. We own and manage quite a few in that zip code and have had great success. 38109 on the other hand is a very challenged zip code so it makes investing tough. Personally I won't buy anything west of 3rd st which is hwy 61 if you're looking on a map. So if you are thinking of selling I would sell that one first but if you're a long term investor I would hold on to the property in 38128... and if you don't call me! I might be interested in buying in or have a client who is

@Priyanka Shah Kudos to you for staying resilient in the ever evolving world of real estate. Like others have mentioned Detroit, just like most any large cities, can be very street by street especially if you're chasing cash flow. I would recommend focusing on markets/sub markets that will provide a more consistent return so take your time and be careful in the areas you're investing in.

Personally I prefer the middle/southern part of the country because the price points are much lower and the laws are landlord friendly. When looking within each market I prefer to stay around that median priced home because that's where the most demand will be not only for renters but for owner occupants so it's easier to sell for top market value if/when that time comes. On paper it may not show as much cash flow as some of the lower priced pockets but there's a much higher probability of a safe, reliable resident that will make your return much more consistent and passive over time. 

Best of luck on the journey!