All Forum Posts by: Todd Anderson

@Connor Bath,

Good luck, this looks like a fun project.

@Gage Olson,

Congrats on the graduation! And welcome to BP.

I think you are on the right path.  I have two daughters, one graduated and one is a Junior.  i tell them all the time to find a good W2 job you like and you plan on staying with a long time.  Live under your means and start thinking about investing in Real Estate.

In your position the thought of finding a duplex to house hack, live in one side and rent the other.  plan on moving every 1-3 years and getting a new property to house hack.  In a very short time you will be able to see a very nice prportfolio building.

Best of luck on your road ahead.

@Meghan RAo

Congrats of the success that you have had in REI so far. It is great that you are thinking of adding to your portfolio.

When you leave an open question on where is a good market to invest you will get a number of reat answers.  They will all probably work.  What you need to look for is a market that is growing in population and jobs and gas beneficial landlord laws.  In a market like this you will get in the way of obvious appreciation.

Then you can look for a deal that cash flows in your favorite market market.  I have worked may investors how like the idea of a duplex in a good growing market.  A number of those investors also like the idea of house hacking that duplex. 

Best of luck and connect if you need more help.

@Krystal Lozano,

Building a portfolio to a 6 figure is definitely a long game.  You have the time.  Use the two years to learn the area and I would suggest as soon as you can, find a duplex and start a house hack.  Try to move every year to a new small multiFamily.  Before you know it you will have a nice portfolio to continue to grow.  

Best of Luck

@Marcus Everett,

Welcome to REI and you have found the best place to learn in the BP community.

Best of luck moving forward.

@LaShon Evans,

The question about LLC is a good one and you will get may opinions on the subject. There are definitely advantages to the liability issue when using an LLC, but there are some disadvantages as well. It may be more difficult to get financing and a good rate buying through an LLC. Many of the investors i work with start buying in their own name and then move the investments to an LLc after you acquire a few. Then they will start the process over.

As for finding a market.  I have learned to be in favor of finding the best market to invest in.  In today's world there are so many tools available to help you buying OOS.  With pictures and video that can be sent on progress, many of the investors I work with never visit the property.  this type of investing does require finding a good turnkey provider that has Boots On The Ground.  The investors that I work with find this benefit one of the most important. 

The market you are looking for should be one with strong population and job growth.  It should also be somewhere with beneficial landlord tenant law.

Best of luck in your search and let me know if i can help.

@Lucas DeAndrade

With the investors I work with they are  normally acquiring and average of 4 properties.  when they find a growing market that works well for their investment there is no reason to try to look for another market.  When an investor gets over 4-5 in a market then we normally talk about diversifying into a different market.  this would normally take a few years.

Best of luck on your next search.

@Andrae S Wiggins,

Welcome to the BP community, this is your first best resource.  

As others have said, your first step is to define your investing goals.  Once you can define what you are looking for then you can create your "Buy Box".  I have learned over many years of investing and working with many different types of investors, that there are many different types of Quality Deals, and they are not that same for every investor. 

Use the tools at BP to find what type of investor you are.

Best of luck.  

@Ben Callahan

Welcome to the BP community.  This is a great place to make connections and Find information.

As others have said you will get a lot of information on what market is best.  Each market you will hear about will have its good and bad.  The most important thing you will need to keep in mind is to find a market that is growing in population and jobs.  With this type of market your investment will get in the way of obvious appreciation.  When the market goes up most all properties go up.

The next step will be to find a deal that works.  It is never a good deal if you are buying just for appreciation.  It is tougher to find deals that cash flow but they are out there.  I have actually worked with a number of investors from california who have sold their CA property and been able to acquire 2-3 cash flowing investments in great markets. 

The investors that ! have worked with have found that the appreciation for the last few years have been stronger when they go with a new construction investment.  With a new construction investment not only do you have fewer maintenance costs but your comps are other new properties.  This type of property tends to gain value quicker than older properties.

Best of luck in your search, let me know if I can help.

@Matt Powers,

I would agree with some of the others, Househacking is a great way to start.  

I have worked with a number of investors who have found a new construction duplex or quad in a great market and moved.  They plan on staying in the property of a year and when they are ready to move they will have a cash flowing property to help.  

@Amanda Smith has some good thoughts on areas.  find a market that is growing in population and jobs.

Best of luck.