All Forum Posts by: Tracey F.

Jay Helms ha ha ha! Didn’t get the inside joke! guess you can tell how new i am around here!

@Jay Helms thanks Jay!  Detroit was actually top of my list then indianapolis.  Will drill down into Detroit!  Just looked up @Joshua Dorkin founder of BP!  So grateful for this forum!   

@David Ribardo I have been speaking with a turnkey provider (Morris Invest) and those are markets they serve. Their properties even come with management company they use although I can find my own but I prefer not to venture out just yet. I plan to buy my first property within the next month or so. And then use the BRRR model and keep going from there. I agree with you in that I want good proce-to-rent ratios, low vacancy. Good point on Commercial growth! Will keep that in mind. Thanks for your feedback! If you think of anything else please let me know.

@Raymond Y. are you managing the property yourself or do you have a PM?

Thanks Nicolas!

I live in Jersey City, NJ and work in NYC in the IT profession. My real estate experience is limited to purchasing my primary residence but have always tried to keep up with my local market. I am really impressed with this forum—the people, content, webinars, podcasts, you name it! Great job guys!

One of my favorite podcast is #233 featuring Arianne Lemire. Her story really spoke to me and gave me courage to get started! I am looking forward to connecting with you and hopefully as time goes on I can help someone reach their goals as well.

Speaking of goals, mine is to retire within the next 2.5 years! As to my “Why” it’s all about family and friends and serving my community more fully. To reach my freedom number requires a portfolio of 20 properties (Single Family Homes). Interested in cash flow not so much appreciation.

Here is where I need help: which the following markets would be a good place to start?

• Indianapolis
• Toledo
• Jacksonville
• Detroit

Open to advice, ideas and recommendations. Thanks for reading to the end!

Clayton & Natali Morris of Morris Invest (turnkey providers) recommend having up to $250k in value in each LLC. They have been featured on BP so you could search for the episodes. Here is another resource I found on BP that talks about pros and cons of LLC. As some have mentioned it all depends... https://www.biggerpockets.com/renewsblog/2013/08/17/rental-properties-llc/