All Forum Posts by: Timothy Lewis

Aspiring real estate investor here from California with the goal to make my first rental property purchase in the next few months. Right now I'm at the point where I'm trying to home in on a good out-of-state market. Some of the areas I've been taking a look at include Charlotte, Orlando and Memphis. I'm hoping to find places that still have positive cash flow potential, long-term appreciation but also somewhere the BRRRR strategy works well. Any other areas that you all have found success that I should be taking a look at? Doing my own research but I want to build my network as well. Thanks in advance guys!

Ken

It does not matter where you start as long as you develop your Core 4. The core 4 is David Greene’s strategy for long-distance and made up of a realtor, contractor, property manager, and lender. Once you have this team in place, you should be able to confidently invest in any market.

As for picking a specific market - I would go after one with an increasing job and population growth. I invest and work in Columbus, Ohio.

100% agree with this.

https://store.biggerpockets.co...

1 Vote

Originally posted by @Greg Scott:

With that much cash, look at getting into bigger investments, not condos. Condos are not smart investments since you do not control a large portion of the expenses.

Consider getting into multiple apartment deals.

I agree. I would keep my job for a little while longer and go for an apartment acquisition

1 Vote

@Dylan S.

Outside of credit score, banks will want to see a steady income before they lend to you.

My first property was a house hack. I've helped many clients in the past buy properties for house hacks.

1 Vote

Welcome and good luck!!

0 Votes

Huge Congrats!

1 Vote

Welcome to The BP Family and congrats on taking the leap

1 Vote

Increase cash reserve
Graduate, get a job, and become lendable
Pull the trigger on a house hack. House hacking works in most markets but especially well in expensive markets like California and Miami

2 Votes

I'll shoot you a PM. I have a couple that I work with

0 Votes

I'm happy to help if you have any questions

1 Vote

I'm happy to help if you have any questions.

0 Votes

All Forum Posts by: Timothy Lewis

Timothy Lewis has started 6 posts and replied 357 times.

Post: Choosing an Out-of-state market for BRRRR investing

Post: How would you retire/FIRE w 500k cash now?

Post: Thoughts on house hacking with intent to move to a new state soon

Post: Spreading Love from Miami! Hello BP!

Post: Our 1 year journey to 22 units & $10,000/mo cashflow without OPM

Post: New Investor In Florida!

Post: Thoughts on house hacking with intent to move to a new state soon

Post: Wholesalers in South Florida

Post: Miami Florida Real Estate Investor Mentoring

Post: Looking to Network w/ Real Estate Investors In Florida