All Forum Posts by: Christina J.

Hello, @Dawn Thompson - as long as the numbers are good, I would think your local REIA (Real Estate Investors Association) would have a forum for you to share your opportunity. Usually they offer a "haves / wants" time during the meeting. A potential investor would also want to review the existing agreement, assuming that one has been signed with the previous owner.

Best of luck to you!

Welcome, Lizzie!

Sounds like you're diving into this real estate investing adventure head first! So glad you found BP to help guide the way. 

If you haven't subscribed to the BP podcast yet, I can't recommend it highly enough. I lurked in the forums and listened to the podcast for several years before making the leap to buying my first property. The education I received through the podcast was invaluable in giving me the knowledge and confidence to do the first deal. Eight properties later and no looking back now! 

Best of luck to you and keep all of us posted on your journey! 

Hello @Michael R. - your take on Chattanooga still holds - very stable market, good cash flowing opportunities. 

Home prices and rents have both increased over the last few years, but we're not a market that traditionally experiences "bubbles". Still plenty of opportunities to build a solid portfolio. 

Feel free to reach out if you have any more questions or would like referrals to local agents or lenders. My husband and I have been investing for the last 3.5 years and have built a good team. Happy to share. 

Best of luck on your journey!

Welcome, Jacob! Sounds like you you've already hit the ground running in your real estate investment journey. So glad you're plugged into the Bigger Pockets podcast - that was a huge source of education for me when I first started.

I don't know a lot about the Omaha market, but familiar with reno projects and buy and hold rentals - happy to help with a few of your "million questions" along the way ;) It won't be long and you'll be the one answering questions in the forums!

Best of luck to you and I look forward to following your journey!

Welcome, JaVern! 

My husband and I started out with about two years of stalking the forums here on BP and listening to the podcast...it was a huge source of education for us and gave the confidence we needed to close our first deal. 

We found our first buy and hold property on the MLS and had a good friend and trusted realtor who showed it to us and helped us break down the pros and cons. It was a traditionally financed purchase, so low drama and once it closed we couldn't wait to find our next one.

If you haven't already, I would recommend finding a real estate agent that you trust, and also start talking to lenders (banks, mortgage brokers, credit unions, etc.) I'm not sure what your financing strategy is for your early phases, but it will save you time and money in the long run if you're familiar with all your options now.

Best of luck to you and I look forward to following your journey!

Welcome, Elena! 

Sounds like you have a really solid plan for your investments. Don't listen to yourself when you wonder who will buy from you....we all have second thoughts sometimes - we just ignore them and keep marching!

Best of luck to you and please keep us posted on all of your successes!

Hello, Pablo. I know there are differing opinions on this one....I'll share my experience. 

Most of my 8 properties are townhomes within an HOA. I like this niche because it limits my risk on several major expenses - exterior and roof. The HOA manages both of those areas, and the very reasonable monthly fees cover it completely. We are lucky to have a strong HOA board (that my husband and I now serve on, as well) so it's been a great set up for us.

I know if you're buying in a development prone to assessments, this can have exactly the opposite impact on your risk, so I would recommend doing a little research on the HOA:

 - who is president / serves on board?

 - what is their authority to level assessments on homeowners?

 - when was the last time they did that?

 - monthly dues / trajectory - how often increased?

A thorough review of the HOA covenants should help you make the decision as that will lay out duties and responsibilities and the homeowners' potential risks. Depending on your availability, if you purchase these units, it may be worth your time to serve in leadership for the HOA to ensure you are in a position to protect your investment.

Best of luck to you!

Congrats, David - what a great first purchase. Sounds like the closing process should have earned you a masters degree in experience and education ;) Glad it had a happy ending.

Couldn't agree more about the value that BP brings to this space. Lots of us would be living vastly different lives without their guidance and encouragement. 

Keep us posted on your journey - you're off to an amazing start!

Hello, Adam! Sounds like you've got a good thing going here....my two cents:

You should be able to secure a business loan with a local bank that would allow you to use gifted funds (they don't care where they came from) for the downpayment. The loan we discussed with our banker was a business loan specifically structured for real estate. They will run a similar (though not as painful) financial check as a traditional mortgage, so your cashflow and credit needs to meet certain criteria. It's not a 30-yr fixed rate, but it could be a good option for you on this deal.

Best of luck and keep us posted.

Hello, Matthew. You can google for these docs, but I would recommend finding contracts specific to your state. 

Most title companies can provide a purchase agreement (fill in the blank) to clients, so it may be worth reaching out to a few local title companies to see how they can help. 

Best of luck to you!