All Forum Posts by: Abbey Humphreys

Hey Sam- there's some great advice in this forum. Once you do decide on a property (or even multiple properties with that equity), a DSCR loan could be a great fit for you. Focus on finding something, preferably in your home-base market, that can cash flow immediately. The journey starts with the first purchase, so if this is something that you are looking to pursue, take the leap.

What @Alexa Ferguson said is great- gaining experience near where you live could definitely be beneficial. However, if you have the capital- an STR investment in the area that you are aiming to get to is a good way to keep one foot in the future. Their are creative financing options for these sorts of investments, too.

Colton- you're in the right place. That's great that you've gotten started on this path. I would say that you should find a good team to build on and really start networking within your market in Milwaukee. The BP podcasts are a great source of information, as well. 

Hey Shayne- happy to connect and answer some of your questions. Whether you are an agent or an investors, BP is a great community in which to start digging in and asking questions. 

Hey Kari- a DSCR loan could work for you given that the underwriting is done based on rental income and not your personal debt. I can message you about options!

Hey Paul- there are some alternative financing options that I definitely think could work for you as far as your investment goals. A cash-out refi on your current property is potentially a great option to add to that 40k that you're willing to put into your next place.

I agree with @Julien Jeannot, get started ASAP! There are some great financing options for the purchase of non owner occupied REI properties. As much as you can save you should save, but start looking for options now so that you can familiarize yourself with your market. STR are great options in areas that are vacation spots or are just high-turnover cities.

Hey Lauren! I think you're definitely asking the right questions. Investing in Atlanta may be a great option for you. Atlanta has really flourished and is a great place for REI, particularly given your connection to the area. If you wanted to buy something in the city but don't plan on occupying the space yourself, creative financing options like a DSCR loan could be a great fit given that conventional financing may limit you.

Hey Matthew, I just saw another post from a young investor looking to kick off in the Long Island area- maybe y'all could connect and look into your market together. https://www.biggerpockets.com/... This was his thread.

Other than that, I agree with all of what has been said in here. A BRRRR investment could also be a great fit for you.

Hey Nicholas. It sounds like you're way further ahead than most given your pursuit of knowledge and leg up on saving $$$. You've already started familiarizing yourself with your market so even though Long Island is a pricier area, you should be able to spot a good deal whenever it comes to you. I agree with everyone else here, as well, that going to investor meetups is a fantastic way to begin to make connection and build a team. Networking and then eventually finding an agent and lender that you trust is a crucial step.