All Forum Posts by: Jaycee Greene

Hi @Pinny T.! What market/city are you looking in for this first SFR (single family rental)?

Hey @Austin Crawford! Great to hear you're looking to start your "real estate journey". Do you have an idea of the types of properties you want to acquire? Single-Family? 1-4 multi-family? 5+ multi-family? Commercial? Mixed-Use? Other? And do you want to flip, hold, or wholesale them?

Hi @Abigail King! Do you have an idea of the type of properties you want to invest in? Single Family? Multi-Family? Commercial? Other?

Hey @Abigail King! What do you consider to be "Central IL"? Peoria? Springfield?

If you're getting $3k/month in rent on a $250k purchase, you shouldn't have any problem cash flowing it.

That's great to know. Have you looked into Section 8 rentals? I checked your county and the rent for 3BR units next year is $1,720.

Hey @Tyler Kesling. If you're using a HELOC, I assume this will be based on the value of your primary residence. The lender should have been able to tell you the LTV % they will use to calculate your HELOC. I'm also assuming you're looking for a 4plex near where you live. What are the going prices for those types of properties?

Hi @Amanda G.! Sorry to hear about your frustration in finding good rentals in Rochester. One thing I didn't see in your analysis was the rents you expect to receive for the properties you were finding. I'm assuming they'd be in the $1,500 to $1,800 range, is that accurate?

Hi @Julie Philpott. Are you just curious about potential new developments in Franklinton or are you also interested in investing in those new developments? 

Hey @Pinny T.! Welcome to the BP Forum and being overwhelmed before you make your first acquisition is totally normal. What I like to find out first from budding investors is the following:

1) Where do you want to make your first investment? Near where you live? Near where you work? Near somewhere else?

2) What type of property are you most passionate about? Single Family properties? 1-4 Multi-Family? 5+ units MF? Or something else?

3) Out of flips, rentals, or wholesaling, what are you most drawn to?

4) How much capital do you have available to invest in your first property?

This will provide a good outline/road map of what you can focus on for your first acquisition.