All Forum Posts by: Erik E.

Hey everyone! I just learned that my wife's aunt and uncle are looking to sell their home in Negril, Jamaica. Of course my mind started to think about purchasing it to have as an investment property. I haven't done much research into foreign investments or Jamaica in particular, so does anyone have some advice on the basics or could point out some good resources?

Thanks!

Erik

@David Faulkner Yeah, I'm trying to achieve a balance with my wife on where we would live, how far away from the city that's going to be, etc.  I'm hopeful there are a couple of duplexes that hold some potential within DC.  I think I'll take a drive around those neighborhoods and check them out.  If that doesn't work, I will definitely be considering the route you took with the sweat equity. Thank you for all your advice.

@Matt Motil How did you get started in investing?  I hear a lot of people buy a home, fix it up, rent it out once you move.  I just feel that might be too slow of a pace for me, but I need to remember, crawl, walk, run.

Thanks for all the responses everyone, I appreciate everyone's insight and support!

Hey NH!

I have been doing a lot of research and learning about REI in my free time and I am quickly becoming more and more interested in all of the different aspects. I am looking to network with realtors mainly in the Lakes Region area (that's where I grew up) but open to other areas as well to learn markets and gather different points of view on strategies, concepts, etc. If anyone could provide a referral or speak up if you're interested in lending a guiding hand, please do!

Thanks,

Erik

Hey DMV!

I have been doing a lot of research and learning about REI in my free time and am quickly becoming more and more interested in all of the different aspects. I am looking to network in the DMV area with realtors to learn markets and gathering different points of view on strategies, concepts, etc. If anyone could provide a referral or speak up if you're interested in lending a guiding hand, please do!

Thanks,

Erik

Thanks for the responses guys. I guess I should definitely find one simpler direction and go in, but I feel like I'm already behind and have to play catch-up! I'll have to see what the future holds...

Hey everyone,

My wife and I are talking about if we want to save for a house of our own, or buy investment properties while continuing to rent. I have heard about house hacking and my wife seems to be on board with it as well. Just the other day I started looking into buying property and building a modern prefab house which I hear CAN be cheaper than buying existing or doing traditional home building. That argument aside, what if we went straight to building an affordable duplex on a plot of land and jumped into house hacking right away on the first property we owned? Aside from me needing to learn more about the home building process for my area and if it'll work for my budget in the first place, does anyone see any downfalls to this scenario? I know a lot of people start with SFH and then "upgrade" the multi arena, but in the DC area there are not a lot of existing multis around, and their either too expensive for me right now or they are in a bad area so I wouldn't do an owner-occupied situation. Please let me know what you think!

Hey everyone.  I wanted to see if anyone purchases their primary residence only after running the numbers to see if it would be a profitable rental once you move out (I know the numbers would most likely change so maybe you can't truly tell) or do you buy a primary residence and just see if it would work as a rental when you're ready to move out.  In short, should you make a purchase based on gaining another rental property, or should you buy what you personally want in a home and then be pleasantly surprised if it ends up being a good rental later on and if it isn't just sell it?

Hey @Zachary St Laurent!  Welcome to BP!  I am originally from NH, small town called Northfield about 30 mins north of Concord.  Went to high school in Tilton.  Do you know the area?  Fire away with those questions, this is a great place to network and learn!