All Forum Posts by: Lisa Gauff

@Robert White Thanks so much for your specific advice!  And yes, since I will likely be investing long distance... what do you feel is the best and fastest way to develop a "trusted team"??  

Hi everyone! @Ryan Webster @Duc Ong @Lewis Anderson @Corey Hawkinson

Thanks for your responses. Unfortunately, the headline of my prior post regarding vacation rentals was misleading. I was going to ask about a specific deal in Hawaii then decided to ask what everyone would do with $50-75K if I'm buying my first investment.. and forgot to change the Headline! (and I'd still like to get opinions on what you'd do with $50-75k! I've posted my questions in First Investments forum)

Yes, I'm well aware that STR rules are changing across the country... and before I would invest in a STR.. I would definitely research the specific rules/zones for that area.

What would YOUR specific strategy be to maximize your money if:

1) Someone gave you $50-75K to spend on your first investment property... and you had to look outside your local big city market (Los Angeles/San Fran/NY, etc)... but can't travel much...what cities/areas would you look at and why?

2) Would you go for Fix-n-Flip to make a lump sum of cash to invest in more properties more quickly? Would you do the BRRR strategy (Buy, Rehab, Rent, Refinance) ? Another strategy?

3) Would you do SFR? Multi-Fam? Turnkey? Other?

4) What is the best way to develop a "trusted team" more quickly?? I know there are many real estate agents or property managers who may have resources - but how to evaluate which one is the best one to go with?? Thanks!!

Thanks@Aaron K.... yes, I used to live in Scottsdale and believe the Phoenix area is a good place to invest, though I don't really know the definition of a "B" rental area?  Bottomline is I don't really know what numbers I should be aiming for?  I'm a little nervous about it all and feel like I probably need some hand holding for this first deal.  Also, not sure what you mean by your comment re: CA??  

I've been looking for my first investment property(s) but after listening to various BP podcasts/blogs, I realize I need to hone in on a strategy.  My main goal is to generate cash flow and get as many properties as I can with the following:

I'd like to keep my cash outlay to $50-75,000.  I have a pre-approval for a Lo-Doc, non-owner occupied loan up to $500,000, 25% down, 6.25 interest, 30 years -- and my loan stipulates whatever property(s) I choose, the 30 day market rents have to cover the total payment (including any HOA).  

I live in Los Angeles (and have a real estate license). I've been looking online in various states.. but mainly close by in CA, NV, AZ (and Hawaii for short-term rentals). I work, so I can't spend a lot of time traveling to other states but am open to finding trusted partners.  Your thoughts on how to best maximize my $75,000 and get my Real Estate portfolio started??  Go for Multiplex? SFRs? Fix-n-flip? Turnkey? Notes? Combo of these? Thanks!

I've been looking for my first investment property(s): I'd like to keep my cash outlay to $50-75,000... I have a pre-approval for a Lo-Doc, non-owner occupied loan up to $500,000, 25% down, 6.25 interest, 30 years -- and my loan stipulates whatever property(s) I choose, the 30 day market rents have to cover the total payment (including any HOA).

I live in Los Angeles (and have a real estate license).  I've been looking online all over.. but mainly close by in CA, NV, AZ (and Hawaii for short-term rentals).  I work, so I can't spend a lot of time traveling to other states but am open to finding trusted partners.  I've mainly been thinking cash flow... but am open there as well.  Your thoughts on how to best maximize my $75,000 and get my Real Estate portfolio started??  Go for Multiplex? SFRs? Fix-n-flip? Turnkey? Notes? Combo of these?  Thanks!