All Forum Posts by: Courtney M.

I'm in the same position where I know I will need to raise funds for my next rental and a flip seems like the way to go. Thanks for sharing your story!

You definitely want to get pre-approved. If you have a property in mind, even better. Seeing the closing statement was eye-opening for me. If you're trying to use the BP calculators to analyze a deal, I found they are not accurate for closing costs as each state deals with taxes at closing differently.

Welcome to BP! My husband has a lot of family in Monroe - is that the market you're invested in?

I'm actively trying to find properties where I could turn them from a 2 bedroom to a 3 bedroom. I found a potential property and I think that's where the "extra" square footage is coming into play (the house has 2 bedrooms and 1,100 SF).

I'm assuming adding a bedroom here may be more complicated because of matching the siding on the house - probably not worth the cost but I'm not sure.

Anyone have experience with something like this?

Hey @Jared Lichtin! I'm out in the IE and hopefully can make your event tomorrow. I'm focused on the midwest as well. Would love to hear more about your success!

@Arianne L., congratulations on your success! What an inspiring story. I hope to share a story like yours some day!

@Sam Josh, of course we are all part of an ecosystem. I guess I'm not picking up your point here - should people not invest because other people are clueless and may make bad decisions? I don't agree with that. I do the best research I can, buy in owner-occupied areas. I can't control what other investors are doing, but I'm not going to buy, for instance, a duplex on a street of duplexes because that's going to depress appreciation and rent increases. I'll buy in an area that's primarily owner-occupied with decent schools and low vacancy. Short of putting up a sign in a neighborhood that says, "NO OTHER INVESTORS HERE!!!!!" I'm not sure what else you'd suggest I do. LOL.

I am far from an experienced investor, but my plan right now is to pick up one property a year with 15-20% down. I understand a lot of people get into the market with FHA financing but I think that's unwise. A market correction, in that case, will quickly put someone underwater.

My strategy is far from exciting but I think there's a great deal of value that you can invest in real estate in a boring way and make money over time. I certainly think waiting for this market correction that no one truly knows when and how it will happen to invest would be a mistake. There are a lot of tools that will help an investor buy right no matter the market conditions.