All Forum Posts by: Anthony O.

 Thank you Jim,

Things are starting to point that direction. I did have a question regarding cap rates.. when you calculate your total income are you deducting the cost of your mortgage from that number?

Is anyone familiar with a 1/1 buydown? I just learned of it through a lender. It is a Fannie Mae ARM with the first year being X and the remaining term of the loan increasing and becoming fixed by 1% the following year for the remainder of the 30 year loan. Thoughts?

Thanx for the Tip Aaron. Coming from a state with a limit on the amount property tax can be raised, I have a concern about property tax in Texas. I understand that it can rapidly increase. Is this an issue you’ve dealt with? 

 Do you currently own in Cleveland? Any experience with management companies or contractors?

Thank you for the reply @Caleb Heimsoth. Would you recommend, or do you know of alternative options that would support my situation? Either a cheaper market, or an alternative strategy?

Good day BP community!

First, I would like to thank you in advance for reading my discussion, and for any words of wisdom you are willing to share.

I am a Southern California homeowner looking to invest out of the state. Thus far, these are some of the issues on my jot pad:

• Capital
  • 10k Cash, with the ability to take a loan against my 401K for 15k. This would be at a 4.5% rate back to myself.
  • I only have 20% equity in my home, so I don't believe that would be a viable option just yet.
• Strategy
  • BRRRR-My concern is if I would have enough capital to support the rehab portion of a purchase.
  • Single Family home
• Markets
  • Thinking the 100k range in cities that are situated around small town colleges, or other potential sources of consistent renters. 
  • Some places I've researched include:
  • Statesboro 
  • Winston Salem
  • Tulsa
  • Grand Rapids
  • Portland 
  • Sparks
• Building a team-I understand that this is one of the MOST important components of any successful investment venture.

I would genuinely appreciate any advice, critique, or words of wisdom.

THANKYOU! 

Tony