Hello John,My name is Lance, I am an out of state investor, I have a rental house in Irving that needs flooring replace, currently they are laminate planks. 

As I’m starting my real estate investment journey, would it be a wise decision to rent out my primary residence and seek a temporary rental for myself while I save money to purchase an additional property for investment?

.- Any potential pitfalls to watch out for during this process.If anyone has navigated a similar setup or has referrals to professionals who can help, I would be extremely grateful for your input!

The better question is to figure out how to get insurance and resolving the reason that is preventing it.

Purchase price: $99,000 Cash invested: $19,800 Sale price: $136,000 Upstairs/Downstairs split entry duplex in Cheney, WA, home of Eastern Washington University.

It seems like you enjoy being active and using your hands so maybe the BRRRR method (buy, rehab, rent, refinance, repeat) is your best bet as you could save some money and do plenty on your own, you could also do a live in flip potentially and sell it or rent it out later.

**Hoard Cash and Build Relationships:** With substantial equity in properties, consider cashing out now.

I typically use regional banks to fund my deals but my 2 go-to banks have either slowed or fully stopped investment loans so recently I've connected with several online brokers but all came from ads or they reached out to me vs personal recommendations and intros so I have concerns. 

It takes 5-15 minutes on any state site to set up on your own, without an operating agreement and articles which you will only need later.If you are setting up a single-member (just you), you don't need help and setting it up now for rental properties only makes sense if you have cash.

Hey BP, I’m new to San Angelo, TX and was trying to find out if there are any investment groups that meet up around town.