All Forum Posts by: Abbey Humphreys

Hey Nick- nice to have you here. That is a lovely area- Portsmouth has so much charm. As far as the REI opportunities, I agree that investing can be intimidating in an market that is so expensive. House hacking can be a good method to deploy but that is not your only option.

Networking in order to get your feet wet and potentially finding off-market deals is certainly feasible, as well as buying a fixer-upper and even utilizing the BRRRR method, a tried and true way of scaling your portfolio (if that is a goal of yours).

There is also always the option of investing OOS. If there is a market that you are familiar with/you have some sort of connection to- it is always possible to kick off your REI career in an area outside of your hometown. This is particularly advantageous if said market is less expensive!

Hey Steven- welcome! San Diego is one of my top three cities in the US- I lived there for six years and loved every minute. 

I agree with @Account Closed- joining a team is, from what I understand, an important part of integrating yourself into the RE community and learning from those that are experts. Networking and putting yourself out there will also be enormously helpful in growing your book of business. 

Hey Bryan- welcome to the community. Sounds to me like the BRRRR method could potentially be a great option for you and you REI goals. You said you've been reading up/listening to podcasts- have you seen the BRRRR book written by David Greene? Definitely worth a read if you're looking to scale.

Hey, Hang. Welcome to the community. Are you looking to invest OOS or are you looking to buy property in an area and then move there? Also, where you intend to invest can depend heavily on what exactly you REI goals are.

As far as STR, areas that are popular with tourists/vacationers are always a good move. For something more MTR/LTR, cities like Austin, Savannah, Phoenix, Atlanta, etc, are great markets. Student-heavy cities/towns are usually a safe bet as long as you have the time (or a good PM).

Mixed properties can definitely be good investment opportunities but as far as financing goes- your options will be much more limited overall. 

If you're open to OOS markets (if you started working remotely, this would work even better), investing in a market that has what you're looking for- i.e. multifamily- is the best option IMO. If there's nothing within the market in Jersey City, then look elsewhere. Looking off-market, like @Jimmy Bostic said, is a great option if you can. It sounds like you're pretty well set up for any moves that you make.

I think the best move for you is to choose one or the other, not both- a property (cabin) that works with your lifestyle or a more "full send" investment property. Also, it's quite a bit simpler to get financing for a property that isn't rural and is also able to be utilized as a full-time rental. 

Sounds like you're being conservative in your underwriting- that's wise. Offering a lower price makes sense, as well. 

As far as the management fee- is it the best decision to pay that monthly as opposed to self-managing considering the cash-flow (or lack thereof)? Is this an OOS investment? Otherwise, self-management is definitely your best move.

If you are paying an HOA Fee, you might be able to project less maintenance, management costs etc. depending on what the HOA provides.

Looks like this could be a solid purchase. Have you run into any big roadblocks? Is this your first investment property? 

This is great advice, @Kevin Hart. Definitely some great, comprehensive guidance for newbies. I definitely feel like there is a narrative of a "get rich quick" scheme when in reality it's more about a slow, steady work ethic that eventually yields great, sustainable returns. Love this!