All Forum Posts by: Denise Fisher

amazing!   Nice work, Johnny!

Any one have any updates on dealing with Sprout.  They say they can get me unsecured monies needed to do a downpayment on a deal, but also told me I could not pursue any financing of my own until they had completed their process.  I've got a great deal, but low cash to get a loan.  Looking at an 8 unit multifamily for 250K.  Could use some feedback on this one..  

Looking forward to it, Rick!

Hi Rick Roberson I'm in Bristol, TN. There is a new meetup group meeting in Kingsport. I haven't made it to a meeting yet but they've met about 3 times. Hopefully someone will jump on and send an invite. I have invested on Tennessee side. Have 2 rentals and hoping to purchase a multi in the next 2-4 months. Denise

Aaron Anderson Thanks for posting this info. I work with a great realtor in Tennessee who broke these costs down for me when I was considering getting my license. He has been very instrumental in the role of mentor and, for me, it's worth it to let him make the money on my purchases. Nice to see the numbers on here for other investors. Denise

Welcome to BP Karen. I am fairly new to real estate investing and also your neighbor in Bristol TN/VA. I purchased two rentals last year and they are rented and cash flowing very nicely. My full time job is marketing across SW Virginia and I have been in Radford a number of times. I would lean towards looking at nearby Christiansburg and Blacksburg as well and have considered studying that area as a potential for future purchases. I'm not sure that looking at the needs of college students is a bad idea as VT is thriving, but as with all of our investments, I would consider other options in the event the college scene does change. I would be interested in connecting with you sometime when I'm traveling through the area. Let me know if you're interested. Denise.

I would love to wait to have 100k but I'd never get started if I waited. It's one of the things I have loved about BP. All the information has given me ideas and resources to get started before I have that much money and make it work for me.

Buy 2 more rentals and flip one property

good feedback, Bill. I have explored equity and this will be an option in a few months but i purchased my personal residence less than 2 years ago with an FHA so not much equity yet and the bank wants a little more time on my initial financing for my properties before I pull out equity. I like the idea of seller financing and have considered this. Until now I've been using MLS so it might be time to track down those retiring landlords. Thanks for responding.

Good morning BP! So I have closed and have renters in my first two properties only to find myself at an impasse. My magic number is 15 doors to replace my full time income and also as a retirement strategy for passive income. I'm an older investor and so time is not on my side. My neighborhood is the Bristol, Tennessee and tri-cities area. Deals are not hard to find although I am being very conservative about numbers as I need the best ROI possible. So far I have done this completely on my own - well not completely- as I have a great realtor who has been an amazing resource and pointed me to many of his connections and given feedback about property value. However all my money and my name alone on the financing. My question for other investors relates to cash on hand and partnering. I have used my savings for this first deal. I still have a small reserve for emergencies, but not enough for down payment on a 70k deal. I'm not sure if I want to try a flip due to the time needed to oversee and being full time employed. Do I find a flip, partner on a rental, wait and save? I know this property will be gone before I can save the cash on hand needed, but there will be other deals.