All Forum Posts by: Daniel Kim

What area are you located in? There are so many factors, most important what are looking for/what are your investment goals...

You are so lucky on the East Coast to be able to live in driving distance of three different states (I'd have to drive over 4 hours to get to another state)! I agree with everything that's been already said but I'd add to study property tax rates in the markets you are interested in. They vary not just from Maryland to Delaware to Pennsylvania but from city to city. Also you might be tempted to buy in all three areas but keep in mind you would have to file income taxes in DE and PA, not to mention having to find a good team (realtor, contractor, etc.) in each market.

I went into analysis-paralysis looking at market after market. Even if you don't have family/friends in the one of the popular out-of-state markets, you just have to pull the trigger and pick the one that calls out to you the most. You can make money and lose money in any market - it's the boots on the ground and your team that will make or break you, not the market itself.

Hey I love your name lol... you should connect with @Jared Smith

@John Hamilton Have you already contacted PenFed?

Ideally this sounds like a good plan but the problem is finding a multifamily in a neighborhood that you would want to raise your children in.

@Arturo Vargas I believe STR means short term rental (AirBnB-ish...)

No sorry, I bought a rowhouse, not a multifamily.

I am no expert on lending but I just bought an investment property in Baltimore last month using a conventional loan and my lender quoted me "20% down Rate is 5.25%, 25% down Rate is 4.75%". I went with 25% down anyways for the lower rate but 20% seemed to have been an option (not sure if it was due to my credit or what though).

Well, your BRRR plan sounds good, hope you find a good realtor. If you know you are going to need a property manager one day, might as well check out Olympia, Spokane, etc. other places with good cash flow but that you don't want to drive out to. But yeah, starting with Tacoma, Lakewood, close by sounds good. I got a HELOC from Penfed this summer, the rate is 6.5%.