All Forum Posts by: Kizzy Robb

@Edward Burns - How much would you recommend I have to purchase the 2 units?

Look at that the @ now works. Maybe it just took a while.

@EdwardBurns - I for sure want to stay away from war zones or places that need extensive rehab. I will keep in mind the $10K reserve.

@WilliamT - Thanks for the advice and I will keep reading BP for more insight along with a few books I've ordered. I appreciate the positive energy. I'll be looking for those great deals and arming myself with the knowledge needed to make them.

I'm sorry, I still can't seem to @ correctly when I type the names. When I do @ & the first initial of names is a list of options suppose to appear? It doesn't if it is.

Hello All,

I've been wrecking my brain and could use some expert advice. In 12 months I will be prepared to purchase my 1st investment. I will have 20K - 30K in cash available.

My goal is to purchase two Multi-Family (4 units) within the first year of investing. My goal is to have a total of 4-5 Multi-Family units within two to three years. After which I'd like to move to 6 + Units (which I know is a different lending criteria).

My reality is that I will not be able to live in either of those units. (It's a long drawn out story). I will need to either rent or purchase a primary residence.

Question:
1. Is it possible to purchase 2 Multi-Family units with 20K-30K to start?
2. Is it better I rent for my primary residence than purchase at this time?

3. What type of sellers should I be looking for (distressed, banks, etc) or does it matter?

There may be something I didn't think to ask, please feel free to include it. Thanks for your support.

Hi,

Can some tell me what LTV is?

@KMariePoe

Thank you. I've started researching the city by neighborhoods but didn't know which direction to go in for sure. This helos

@RaymondB

Yes, I did. I'm not sure what I'm doing wrong. :(

I'm new to BP (a week in) and I've just been reading different forums and this one is a good one too. I have similar goals and need to consider doing the same. I want to buy & hold and will look into other options as well such as flipping or notes.

Thanks to all who contributed.

@RaymondB - Thank you, I just did it again & from a different computer. I don't know if it worked? I didn't see the list but my view may be limited. Thanks for the help, I'll keep playing around with it.

Morning all

@KMariePoe - What resources do you use to get the data on rental data in a city?

Thanks

@ Lisa -- You're right this BP community has a lot to offer. I've been glued to it since yesterday and I've learned a lot. I'm also growing more confident in my decisions. The article you posted is a great bullet point on RE. I found it useful. Thanks

Hi,

Good question. @Thomas - What's your advice on when someone should form a LLC? Should I form a LLC with my first purchase of investment property, 2nd, 3rd, etc?

Thanks