All Forum Posts by: Abbey Humphreys

Hey Josue, sounds like you're doing really well. We work specifically in the STR financing space and I can PM you about some options that might work for you.

Hey Dhruvajsinh, 

What data are these lenders looking at? Typically, a lender that knows how to lend on STRs, especially when it comes to DSCR loans for STRs, should be able to use data from Air DNA and be able to tell you at the very least from an underwriting perspective if the asset should cashflow.

Hey Jeff- welcome to Bigger Pockets! Happy to have you here. Memphis has a stable economy and has been trending up as far as real estate market growth, so I would consider it a good place to invest. Like @Noah Laker said, investing that far from your home base is definitely an ambitious (though certainly not impossible) move. If you are determined to invest outside of your backyard, I would recommend a market that you are connected to- history, friends, family, etc. 

Are you looking to invest in STRs in Houston or in Tampa? The local markets and your financial situation is a large determining factor in what your next step should be in acquiring REI properties. Finding the right financing is also vital.

Hey Vaghinak! Welcome to the community- you're looking in the right place. Definitely start reading through forums and asking questions. The podcast also has tons of great information. Real estate meet-ups are a great way to build a network and connect with those that can eventually be a part of your REI team.

Hey Jhamari! It's great that you're getting started on your real estate investment journey. To purchase an investment property as a rental, a DSCR loan could be a great option for you. These loans are based around the cash-flow of the property that you are looking to invest in and can be a great option for first time investors.

Hey Elvise! Cleveland is definitely a great place to invest in real estate. Cleveland's real estate market is considered affordable compared to many other metropolitan areas in the United States. Also, investments in downtown redevelopment, infrastructure improvements, and the healthcare and technology sectors have contributed to job growth. The city offers opportunities for real estate investment at a relatively lower entry cost compared to larger markets.

I personally don't have any contractor recommendations, but maybe check out the Rehabbing and House Flipping forum for ideas on that. This post, for instance https://www.biggerpockets.com/... is similar to your needs. 

 Of course! I would say you should look for referrals- ask friends and family first to see if there is anyone that stands out. Online research is also important. Make sure to interview multiple agents and then check for references once you start narrowing things down.

Hey Jack- congratulations on taking the leap into REI!

You've taken the first step- asking the right questions and getting onto this forum. There is a veritable treasure trove of information here on these forums, so I suggest reading as much as you can, listening to podcasts, etc. just to immerse yourself in the process.

Investor/real estate meetups are great, as well. https://www.meetup.com/find/?k... These are all great ways to get involved in the community- particularly living in Los Angeles where REI opportunities are around every corner.

No debt and 20k is such a great place to start. Flipping/buy and hold are great options in your market, as well.

Hey Michael- love that you're getting started on this journey so young. 

You're on the right track and asking the right questions. I don't know if getting your real estate license is strictly necessary if you're pursuing REI unless that is something that you want to pursue long-term.

Save, save, save, and while you're doing that- begin to build relationships and form a team of trusted individuals that can help to guide you. BP is a great place to begin as far as reaching out and meeting people in this industry and going to local meetups is a great option, as well. 

The BRRRR method is absolutely a great way to optimize your time and capital but be sure to take your time and build your portfolio wisely and strategically.