All Forum Posts by: Jasmine Smith

@Julio Gonzalez Thank you! I’m hoping to get some really good feedback.

Thanks @Curt Davis I do not have a commercial realtor however I do have an associate who is heavily involved in real estate investing there who has been sending me properties. I am interested in commercial property with office suites instead of family housing. 

Hi! My name is Jasmine and I have recently found a partner to invest in real estate with. We are both newbies and have decided on investing in commercial property in Memphis, TN. We have created our LLC and business bank account. What advice can anyone give me on where to start or what to do next as far as finding deals and best ways to acquire lines of credit?

@Andy Webb okay yes I understand what ARV is. I meant that I would like to be able to profit $20k-$40k after purchase price and rehab cost. So if I purchased something for $100k I put $40k into for rehab I would like for it to appraise for at least $180,000 or more so that I can profit $20k-$40k after selling and the other expenses that come with selling a property. I haven't started practicing with numbers nor the calculator on various properties.

@Andy Webb No I meant $20,000 - $40,000. Are those numbers too low of a goal? 

Thank you @Ken Dunn right now I am reading BRRRR by David Greene! It has been speaking on the same beginning steps you just explained. I will add some of these other reads to my least. I have been dedicating an hour a day to learning, reading, or listening to YouTube videos on real estate investments. Sounds like I need to focus more on learning about house hacking. I really appreciate your advice, super helpful!

@Andy Webb Hey Andy! Thanks for responding. I haven’t had a chance to research and visit all the areas just yet. So far, I am interested in the midtown area, farmers branch, Las Colinas, and maybe grapevine if something there is in my price range. I looked into and visited Southlake- seems pretty expensive to do anything there. I am interested in looking into other areas though. 

I think something built within the last fifty years is good and I have been advised not to get anything that needs a ton of work since This will be my first real estate investment and I haven't made any trusting connections with contractors, lenders, etc. If I was to start with a SFH I would like my ARV to be at least $20k-$40k I don't know if those numbers are realistic or not- again I'm still learning. If I was to do a Multifamily I'm honestly not sure what I should be expecting for ARV. What do you think?

Wow really? @Matt Bishop I came across a multi family duplex in Dallas in loopnet. 

@Nicholas L. Hi Nicholas. This will be a permanent move for me. I would like a permanent residence however I want to do whatever is going to generate cash flow to start off. I know if I move there and buy a permanent residence or lease an apartment it will be harder to get started because I’ll be trying to cover my own rent/mortgage on top of trying to finance a project. So living in a place I’m renting out or a home I’m fixing up may be the way to go?

Yes @Lucia Rushton that’s exactly what I was planning. Live in it as I renovate. Maybe reside in it for a year then rent it out. Find a new property and repeat the process. I guess my biggest question is how do I go about finding a really good deal if you all think I should steer clear of off market homes with it being my first project?