All Forum Posts by: Lisa Irimata

I recently read the Long Distance Real Estate Investing book by David Greene and am really interested in investing out of state. I have been analyzing properties out of state to BRRRR for about . During my search my agent sent me a foreclosure property, I ran the numbers as a BRRRR deal and they didn't work so I told my agent I wasn't interested. A couple days passed and I couldn't get the property out of my mind. I went back and ran the numbers as a fix and flip. Running the numbers this deal makes sense but I'm nervous! I'd need to take out a hard money loan to cover purchasing the property and the rehab costs and I've never managed a fix and flip before. I don't want to get caught up in analysis paralysis but it's tough.

Do you think a fix and flip is a wise choice as a newbie investor with very little experience? Any advice on how you took the leap to complete your first deal?

@Pamela Sandberg I actually am beginning to look into an attorney for my properties. I will definitely reach out to you, thanks for commenting.

Thanks Wes, I'm sure I'll have a ton of questions in the next few months. I'm looking at some out of state properties now and am working on getting my team together. I'll keep you updated!

Hi Samuel,

Also a recent engineering grad here (about 2 years out). By far the best decision I made was to house hack (see BP if you haven't read up on it already). Currently own a 3B2B townhouse with 2 roommates and living mortgage free! This is allowing me to save ~70% of my income for my next deal. I worked for only about 6mos before purchasing a place and didn't have any issues with getting financing. Not sure where you are going to be living but I'd also suggest looking into a 2-4 unit property if you're able to, wish I had done that. Best of luck to you!

Hi everyone! My name's Lisa Irimata I'm a new-ish member to BP community based in Mesa, AZ. I've been lurking on the site for about a year now and decided it's finally time to start contributing and getting involved. I'm about 2 years out of college and have a BSE in Biomedical engineering, an MSE in Mechanical engineering, and currently am working as an engineer at Intel.

I purchased my current home February of 2018 (2B2B townhouse) because I got really excited at the idea of house hacking (from BP of course) and had one of my buddies from elementary school move in with me. Near the end of 2018 I converted the den into a 3rd bedroom and found a second roommate. I'm looking to purchase my first rental property this year and am excited to begin the process! Currently, I'm interested in single family homes but am looking forward to investing in multifamily housing in the future. I still feel that I'm definitely in the "knowledge acquisition phase" and have been reading a ton so I'm always looking for new recommendations!

Looking forward to getting to know you all!