Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime

Let's keep in touch

Subscribe to our newsletter for timely insights and actionable tips on your real estate journey.

By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions
×
Try Pro Features for Free
Start your 7 day free trial. Pick markets, find deals, analyze and manage properties.
Followed Discussions Followed Categories Followed People Followed Locations
All Forum Categories
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

All Forum Posts by: Brian Lacey

Brian Lacey has started 5 posts and replied 213 times.

Post: Newbie investor interested in sub 30k markets

Brian LaceyPosted
  • Rental Property Investor
  • Hailey, ID
  • Posts 218
  • Votes 143
Originally posted by @Christine Kankowski:

Just a thought:  Fir a 30K property, you have to pay all cash, since I have not found a lender to loan on properties that small.  however, you can take that same 30K as a down payment on a $110K home and make excellent cash flow, have good tenants who will stay a while, and have better jobs than those living in a 30K place. 

I personally own several in the 30K range, but have steadily moved to the higher end homes, specifically due to what the people prior have said:  fewer evictions, better care and maintenance of the property.  In the under 30K range, one car breaking down, or one large medical bill may force the tenants to not be able to pay their rent. 

On that note, the cash flow is very good if you do in fact have a good tenant, etc.   So, if you are looking for a fixed-up house to buy with a tenant already in place, I do have one for sale.  Really.

Thanks, and best of luck to you!! Christine

 Couldn't creative financing or going through a credit union be an alternative to traditional financing with the 30k properties?

Post: Advice/Criticism/Opinions On My Goals - Please & Thank You!

Brian LaceyPosted
  • Rental Property Investor
  • Hailey, ID
  • Posts 218
  • Votes 143

1) invest in yourself, it's always going to be your best investment.

2) Real Estate has been around for a very long time, it's not going anywhere.

3) Diversify your assets, and your risk. A 401k, roth is preferable, if not available then a roth IRA is your best bet. Maximize an employer matching program on 401k contributions, and/or maximize the IRA $5500/year contribution.

Post: Newbie investor interested in sub 30k markets

Brian LaceyPosted
  • Rental Property Investor
  • Hailey, ID
  • Posts 218
  • Votes 143
Originally posted by @Jeff Parkin:
Originally posted by @Brian Lacey:

http://justaskbenwhy.com/2015/10/05/how-to-make-mo...

Just read this today from Ben Leybovich. Ought to give you a slight insight into one way to go about handling that class.

You'll find that the 30k props are either a love 'em or hate 'em discussion.

Thanks Brian, that was a good read! As rental prices have gone up the past several years I think those with section 8 vouchers take them more seriously now and don't want to jeopardize losing access to the program. And yeah, as I've searched around on here I've definitely seen the love vs. hate on sub 30k properties. They don't scare me though. I actually like the idea of being part of improving a community one property at a time. 

 Happy to help. I'm in the same boat as you, I like the idea of investing in that class. I think that with the proper expectations, maintenance reserve, and approach, that sub 30k market can be a real great asset.

Post: Newbie investor interested in sub 30k markets

Brian LaceyPosted
  • Rental Property Investor
  • Hailey, ID
  • Posts 218
  • Votes 143

http://justaskbenwhy.com/2015/10/05/how-to-make-mo...

Just read this today from Ben Leybovich. Ought to give you a slight insight into one way to go about handling that class.

You'll find that the 30k props are either a love 'em or hate 'em discussion.

Post: 17 year, old who is serious about getting started in Real Estate!

Brian LaceyPosted
  • Rental Property Investor
  • Hailey, ID
  • Posts 218
  • Votes 143

One of the best things you can do, if you're not already doing it, is be conscious of your time. It's your greatest asset, and don't forget it. So find hacks to make the most of it. Real Estate podcasts are always downloaded to my phone, plenty of great supplementary material on them that builds and tangents from what Brandon had recommended. 

You already have a leg up on everyone else by getting started so early, take advantage, and build off the great initiative and mindset you're already demonstrating.

Post: Returning Member from Germany/ Hawaii

Brian LaceyPosted
  • Rental Property Investor
  • Hailey, ID
  • Posts 218
  • Votes 143

Memphis, Kansas City, Birmingham would be good places to look at. I've seen affordable properties there.

Post: What's your experience with property managers?

Brian LaceyPosted
  • Rental Property Investor
  • Hailey, ID
  • Posts 218
  • Votes 143

One thing to consider, that depending on how big your portfolio becomes, or various markets you're in, a property manager will make life a lot easier, and become necessary. Needless to say, this entails a quality manager.

From what friends have said, a good property manager is worth their weight in gold. 

Post: Hello friend, newbie living in abroad in South Korea

Brian LaceyPosted
  • Rental Property Investor
  • Hailey, ID
  • Posts 218
  • Votes 143
Originally posted by @Natalie Heo:

Hi Brian,

Welcome to BP~ Hope you are exploring a lot of RE education here~ I did and still am learning a lot from this resource. I am born in South Korea, living in NJ now (opposite from you). I am also part of Seoul REI that Daniel Ryu organizes and you are in good hand with lot of great mentors and partners in South Korea with him. :)

Best of luck to your future investments and hope to see you soon in the next seoul meet up! 

Awesome! Loving the ability to connect with others so quickly. BP is just an awesome resource, and it's so great to have Seoul REI in the backyard, and get some face to face interactions as well. Really looking forward to moving forward in this industry.

Post: Hello friend, newbie living in abroad in South Korea

Brian LaceyPosted
  • Rental Property Investor
  • Hailey, ID
  • Posts 218
  • Votes 143
Originally posted by @Dave Visaya:

Hey @Brian Lacey welcome to biggerpockets! It's great to have you.

 Thank you, it's great to be here! Tons of knowledge all at this one resource. Gotta love technology haha.

Post: Hello friend, newbie living in abroad in South Korea

Brian LaceyPosted
  • Rental Property Investor
  • Hailey, ID
  • Posts 218
  • Votes 143

Hi friend, 

I'm Brian Lacey. Born and raised in San Diego, CA. Currently living, in Yongin, South Korea.

I'm specifically looking into multifamily properties and single-family properties. Still looking for my first property, so I'm absorbing as much information as possible, preparing myself as much as I can before I get the first-hand experience, and the lessons that come with.

More importantly, I'm really looking to network, and meet people in all aspects of real estate in different markets. I take great pride in finding and connecting with mentors. Eventually, a transition into a full-time real estate career is something I see occurring down the road. Never been one to shy from hard work. Books, blogs and podcasts can only teach so much. Even firsthand experience has its limitations. Nothing quite beats a great mentor, IMO.

Happy investing, friend.