All Forum Posts by: Yoselin Pearce

Hi there! I'm looking for a real estate-friendly CPA in Louisville, KY. Does anyone have any recommendations?

Thanks!

Hi there!

I'm a new investor looking to buy my first MFR by the end of this year (woohoo!). The goal is to find a property with great cash flow and house hack it. Because I currently live in California (expensive, not landlord-friendly, etc.), I will be moving to another state that offers lower purchase prices (my max is around $450k). I've been looking all across the country and one of the markets I'd like to learn a little more about is Kansas City, MO.

From an investment standpoint, what would you say are the pros and cons of Kansas City? And do you have any areas you'd recommend I look at? What about areas you'd recommend I stay away from?

I'm also open to hearing any other market recommendations. Other areas I've been looking are Louisville, Cincinnati, and Chattanooga, but as mentioned, I can move anywhere, so the entire country is my oyster. 

Thanks so much!

@Account Closed ....WOW! So incredibly helpful. I'll be sure to keep these areas in mind moving forward. I really appreciate your help. Thank you. 

Wow... thank you @Nicole Lee! I really appreciate your help here.

Hi @Account Closed - thanks for your reply. Hm... well, I'm looking to kick off my RE career with my first house hack. Ideally in a not-too-rough neighborhood, so I most definitely don't want bullets flying around me. As mentioned, I'm from CA and admittedly not too knowledgable of the AZ area (yet). I looked at city-data.com and saw the entire Phoenix area is dark purple (see attached). I'm guessing safe to say from your comment that Glendale is a bit rougher?

Hi everyone!

I'm a new investor looking to purchase my first property / house hack by early winter of this year. I currently live in Los Angeles / Orange County, so I would realistically need to move OOS to do this. All good... always happy to start a new adventure!

I've been analyzing multi-family properties near the Phoenix, AZ area to practice for when I'm ready to make some offers. I came across this deal recently, and it seems fantastic to me. I would have $400 cash flow after all expenses (PITI, vacancy, management, etc.) assuming rent is $850 per unit (in my calculations, I would be paying $850 as well). However, I notice it's been listed since 1/29/2021, which is a rather long time.

By looking at the listing, is there anything I may be missing? It seems odd to me that it's been listed for so long. Here is the listing: https://www.realtor.com/reales...

Thank you in advance.

Yosi

Thank you to everyone who has helped me here. You've all helped me consider my "first step" from different perspectives.

@Lee Ripma - I love what you said. If I were to make my primary residence a real estate investment, I'd be living in a risky neighborhood... unless I were to save up for a few more years. 

@Matt Leber - you also have a great point. I AM able to save up while still paying rent here.

@Ali Boone - thank you for your article. It helped me understand the costs of a primary residence I hadn't yet thought of.

@Tony Kim - yes, it would be a dream to house hack in LA. However, I'd need to save up a loooot more to get out of the risky neighborhoods I'd have to buy in now, whereas I can start buying decent properties OOS with what I have now. It's a goal I'd still like to strive for at some point though. Thank you.

@Joe Homs - thank you for such an informative response! It's certainly convinced me that I definitely need to purchase a primary residence in the near future. As my first step - not so sure after a few of these other responses. However your response has certainly helped me understand the benefits.

Hi there!

I'm a new investor just beginning my path to early retirement (woo!). I haven't purchased my first property, but I have saved up enough to finally consider buying.

I live and work in the Los Angeles / Orange County area (pricey). I currently rent. I plan to purchase my investment properties out of state. My question is - should I jump into purchasing my investment properties, or should I start by purchasing a primary residence for myself? 

I have enough saved for a single unit home. If I wanted to house hack with a duplex, I'd realistically have to wait another year or so to add onto my savings.

Thanks a ton,

Yoselin