All Forum Posts by: Igor Khait

Excellent job!

@Steve Rozenberg What were some of these frustrations if the properties were in fact great deals? A lot were vacant? Contractor issues?

@Steve Rozenberg My long term goal is financial freedom meaning at least 5k a month in passive income in the short-term and once I hit that goal then bump it up to 10k. The hardest part in anything is always getting the ball rolling, and once that happens and enough experience is gained then it typically turns into a snowball effect and the goals get shifted based on more experience and knowledge.

@Steve Rozenberg Totally makes sense! I should've been more specific.  To start with, ideally I'm looking for a duplex to buy and hold, with minor cosmetic work. My strategy is accumulating multiple properties over time that provide sustainable, steady cash flow. 

@Ali Boone Sent you a PM... thanks!

@Steve Rozenberg Awesome set of questions. I added them to my list for when I'm ready for that stage. What are your thoughts on the Arlington area?

@Gautam Venkatesan Yeah the taxes do seem pretty high in Texas... may have to slightly start to reconsider as that is about twice as much as places like Orlando. 

@Jason D. I believe state taxes won't apply to me as I won't be living in those states but they're constantly on the top lists of properties to invest in based on Forbes and other reputable websites.

@Blake Edwards Yep! Just got the book and will be reading it as soon as I'm done reading a guide on this website. Also listening to Rich Dad Poor Dad in my car for the foundation piece.  So you're based out of Brentwood? It's about 25 minutes away from me... would be great to grab a drink and talk real estate after I'm done reading David's book cover to cover.

@Kenneth McKeown The more I research the more I realize to potentially either lower the purchase price range for a SFH or ideally look at Duplexes. I'm still in the baby steps of my research so I'll have to make the proper calculations to figure out the sweet spot of where I can get the highest rent to value ratio. I'm hesitant about turnkey investments as they are typically inflated in price and there is potential the bones of the foundation may need to get fixed up or the warranties may not be extended to me depending on who renovated the property.

@Michael Carbonare Thanks buddy. I will do my due diligence and be patient to find a good deal. 

@Steve Rozenberg Thanks.. I have goals and a plan in my mind but you're right I should be writing them out and focusing on them daily.

@Phong Tran Funny you mentioned that as this morning I ordered that book after hearing so many good reviews about it. Have you had good/bad experiences with long distance investing? Portland is an awesome place to visit by the way.

Hello BP community!

I'm 34, living in Los Angeles and looking to possibly invest in either Texas or Orlando, FL this year. 

I have no debt, credit score over 800, and have money saved up for a down payment, etc.

Since it would be my first real estate investment (I'm considering going the SFH route unless there are better options for homes around 275K range), in particular a long distance one at that, what would be the best strategy to start with? Get pre-approved for a loan, then find the best agents in Texas/Orlando area?

Whoever has experience in cross-country investing, how did you get started? Things you learned along the way and things you would've done differently.

Thanks all,

Igor