Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime

Let's keep in touch

Subscribe to our newsletter for timely insights and actionable tips on your real estate journey.

By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions
×
Try Pro Features for Free
Start your 7 day free trial. Pick markets, find deals, analyze and manage properties.
Followed Discussions Followed Categories Followed People Followed Locations
All Forum Categories
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

All Forum Posts by: Kelly Reynolds

Kelly Reynolds has started 7 posts and replied 32 times.

Post: Best cities to invest in Indiana

Kelly ReynoldsPosted
  • New to Real Estate
  • California
  • Posts 32
  • Votes 15

My husband and I are looking for one or more investment properties to purchase in the next month or two. We started our search in Illinois but received many recommendations to look at Indiana. I’m starting to turn my attention there but I’d like to narrow down my search to the best cities that have landlord friendly laws, low tax rates, and affordable prices. Are there any markets that achieve 1% price to rent ratio?  We are open to both single family and small multifamily, either turnkey or with cosmetic fixing. We are looking to spend under $340k, whether that be on a single property or multiple. We are also looking to build up a team in the area if we find that the market meets our investing goals. Thanks!

Post: Turnkey Investments in Illinois

Kelly ReynoldsPosted
  • New to Real Estate
  • California
  • Posts 32
  • Votes 15

@Account Closed I would love to hear your suggestions for other markets I should be looking at! Thanks!

Post: My First Investment - The clock is ticking!

Kelly ReynoldsPosted
  • New to Real Estate
  • California
  • Posts 32
  • Votes 15

@Dave Passey - I'm not sure I understand your question, but I haven't actually found a property or executed any deals, I consider this an in-progress transaction that I hope will turn into a "deal".  I'd love to hear how you found good properties to invest in when you were just starting out, with no network set up or experience.  I guess it is my lack of experience, knowledge and network that makes it seem complicated to me!  My only strength is that I am a Civil engineer and I work for a local municipality in California doing development review and permitting, so I know that side of things, and I worked for a consulting engineering firm for a few years before that, so I know how to design and process subdivisions and developments from an engineering standpoint, but that doesn't really help me with the networking / deal finding deals side of things.  Plus California is too expensive so I am also looking at markets I am currently unfamiliar with.  Looking for guidance and the opportunity to network :-)

Post: How to find a rehab team

Kelly ReynoldsPosted
  • New to Real Estate
  • California
  • Posts 32
  • Votes 15

@Carlos Cuervo Just checking to see if you have been successful in finding a team to fix up investment properties?  I'm new to investing and looking to put together a team myself, so curious if you have had any luck.  Thanks! 

 @Charles Carillo - How do you go about getting a referral when you are new to investing and new to the market you are looking in?  If you are just starting out and don't have a strong network, where do you start?  Thanks!

Post: Turnkey Investments in Illinois

Kelly ReynoldsPosted
  • New to Real Estate
  • California
  • Posts 32
  • Votes 15

@Bill P. Thanks for that advice!  I have already received similar advice, and I am definitely taking that to heart.  Do you happen to have any markets you would recommend for a new investor?  Thanks!

Post: My First Investment - The clock is ticking!

Kelly ReynoldsPosted
  • New to Real Estate
  • California
  • Posts 32
  • Votes 15

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $150,000
Cash invested: $150,000

My husband and I are currently in the process of trying to find an investment opportunity in the Illinois or NW Indiana area.

What made you interested in investing in this type of deal?

We want to build up a real estate portfolio to start bringing in passive income.

How did you find this deal and how did you negotiate it?

We are currently in the process of trying to build up our network, learn everything we can, and find a good deal!

How did you finance this deal?

We are currently in the process of a cash-out refinance on our primary residence to raise the capital needed to begin investing. Our goal is to line up one, two, three, more? investment opportunities that are ready to go as soon as we have the cash in hand!

How did you add value to the deal?

We will be providing the capital.

Lessons learned? Challenges?

So far, the biggest challenge is narrowing down a specific market that we like, choosing a method of investing (flip vrs. buy and hold), and building up a trust worthy team!

Post: Buying a rental with cash?

Kelly ReynoldsPosted
  • New to Real Estate
  • California
  • Posts 32
  • Votes 15

@Dusty Tatom I haven't purchased any rental property yet, but I did see someone else suggest always getting title insurance / clear title and a property inspection if buying with cash (which would normally be required if you are getting a loan).  I am also looking into purchasing a rental with cash, so curious what others have to say!

Post: Turnkey Investments in Illinois

Kelly ReynoldsPosted
  • New to Real Estate
  • California
  • Posts 32
  • Votes 15

@Jonathan Klemm thanks Jonathan! I will definitely keep your name handy as we decide what our next move is. 

Post: Turnkey Investments in Illinois

Kelly ReynoldsPosted
  • New to Real Estate
  • California
  • Posts 32
  • Votes 15

@Soh Tanaka - thanks for your insight. It sounds like the best plan is to do all we can to get good tenants but keep a year worth of reserves on hand if investing in that market. Thanks!

@Mark Ainley - Can you explain a little more about the rental license program and how I can find out more?    Also, for section 8 housing, if the property we are looking at is not section 8, how does that impact us or how can I get a better idea of “what that looks like”?  Thanks for all this great advice! This is invaluable for me as I’m so new to this!

Post: Turnkey Investments in Illinois

Kelly ReynoldsPosted
  • New to Real Estate
  • California
  • Posts 32
  • Votes 15

@Marco Santarelli thanks for the clarification. We have not yet started discussions with anyone from Norada but glad to hear my original understanding appears to be accurate. 

1 2 3 4