Recent College Grad Wanting to Get Ahead
Hey there everybody!
My name is Grayson Dampier, I recently graduated from ACU last May and have been living/working in Dallas, TX for almost a year now. In college I became very interested in buy/hold real estate when I had to move out of the dorms at the end of sophomore year and had to begin looking for properties. I found the hunt/search for an awesome property for me and my friends to live in and find it at a good price/location/size/condition etc. was such fun and I truly enjoyed it in a way I would've never thought. Since then throughout the remainder of college I began to dabble and read around the BP forums, listened to a few podcasts, watched some youtube videos etc.
I'm interested in rental properties, and think I have a good network in Abilene (where I went to school) to be able to have a steady flow of renters to the students and as a bonus, the real estate there is fairly inexpensive so seems like a good place for a beginner. I've began reading Brandon Turner's book on Rental Property Investing and am loving it so far.
I'm very interested in the BRRRR method (listened to the most recent episode of the podcast today actually and would love to read David Greene's book on this next) but might potentially try and house hack as my first investment here in the Dallas area. I'm currently saving 50% of my income every month in the hopes of doing my first deal and getting the ball rolling within a year or sooner.
Anyways, just here to learn as much as I can, have a community to be able to ask questions.
Most Popular Reply
@Grayson Dampier the BRRR method is great in theory but it's very hard to obtain (especially in Dallas). Now the Abilene market may have a bit more potential but there is a bit of cash that's going to be required. Typical is 20% down payment plus rehab costs. In theory you'd hope to refinance and get as much out of that back as possible - but it's variable. I'd definitely consider leveraging your primary residences locally here in Dallas AND investing in Abilene if that's where you're considering.