All Forum Posts by: Tracey G.

Nadav Swarttz I would be happy to swap stories as I go along - maybe we can learn from each other. I just missed out on a property last fall, so I left the $$ invested but it's been up and down with the market. So last week it was up and I said to myself 'this is a sign...sell!' This week I talk to the lender about preapproval and then I move on to finding a property.

@Nadav Swarttz I'm just starting out, so I'm no expert, but I cashed out a portion of my non-retirement funds to start investing. (I wouldn't touch my IRA/401k at this point.) They were from a settlement a few years ago and the stock market ride has been making me queasy. I'm going to start with one property and see how it goes. I'm looking out of state (NJ) because I can leverage my money much better (2-3 units vs 1) but your live in and rent strategy sounds solid, too. It was a scary decision to hit that "sell" button and commit, but I have decided I want to change the direction of my life and the only way to get there is to take the first step! That said, I have also ramped up my day job savings to combine with the cash flow and plow into new holdings. If all goes well, by summer I'll have my first success story and be thinking about #2.

Best of luck, Tracey

Hi @Ali Boone, thanks for the post.  I'm definitely looking at Philly to start (compared to where I live, houses are practically free there!) but I will check out the others for the future.  I'm a bit late to the RE game so my timeframe is shorter to scale up to generating enough passive income to cover my expenses.  While I could afford one investment home in NJ, it would take a long time to get to #2 and beyond.  I see way more potential in out of state because I can leverage my capital so much more and scale up to 2-3 within a year if I find the right ones, and then upwards from there.  I don't want to be looking at cubicle walls for the rest of my life... I'd much prefer some hiking and mountain views.

Tracey

@Larry Fried Thanks, that's a market a couple other people have mentioned and I like. With some of the info I got on BP, I'm looking into it.  

@Joseph Scorese We met at the investor club meeting in Red Bank. You got me interested in Philly and I went down and drove some neighborhoods. I may have found what I'm looking for, but I've got your card. Thanks!

Hi Jennifer, you pay came up on my keyword list. Sounds like we are in similar places on our journeys to independence. I listen to the podcasts while I work my day job. Good luck!!

Thanks, Jeff.  Now I know what I'm listening to at work tomorrow... BP Podcast 151!

Antonio, I totally agree but I have two teenagers. When they are both out of college in five years I will be free!!  But I don't want to wait five years to start my journey to independence, thus out of state investing. Sounds like you made a good decision.

Hi, I'm just starting out with investing. My work and life experience have given me a good background and I'm ready to take the next step. Because I live in NJ, between prices and taxes, I'm priced out of going local. So having done some research, I've become interested in going out of state Turnkey but I'm a bit daunted by trying to pick a market and a provider from hours (or a plane ride) away. Any advice or suggestions would be much appreciated.

Tracey

Congrats!  I live in NJ (read too expensive to invest here) and I'm exploring out of state Turnkey to get started. Very interested in how you found your provider and vetted them enough to take the next step of visiting.

I'm interested!