All Forum Posts by: Miranda Poteet

Should I get an LLC before I invest in real estate? Long term goal is owning commercial properties. Using single family BRRR strategy on first few homes. I definitely want it when I start the commercial side, should I have it for Single family as well?

@sherif I would love to do house hacking, so many benefits and if it was just me I would jump in, in a heart beat. But I have to take school system into consideration and in my area I haven’t found good locations for house hacking and school systems in together (at least what I can afford right now)

Anthony Dooley thanks for the feedback Anthony; I’m having a hard time finding a duplex deal in a good neighborhood with good schools. The 30 units and up is definitely something what would have to wait 5-10 years out but that is were I want to build my portfolio to. I am registered to get my real estate license next month, not to so much sell but to save money if I do. What’s your thoughts on a 203k loan for a sfh, a fixer upper(my dad builds houses, wouldn’t be approved for the job with fha) but he’ll be assisting in over seeing the project. After a year betting that I have equality built up in the property to sell and repeat or refinance and use that to invest.

I’ll jump right in. I’m 26, single mom of an elementary school child. I’m currently saving 26% of my income each month. I have never purchased a property, I have little to no debt, open credit card but no debt. Currently renting at $1000 per month. I’ve been reading, running numbers, listening to podcasts and networking seriously for the past 5-6 months and plan to continue this and save for the next 6 months before I make my first investment. I want to invest in apartments, 30, 40, 96 units etc is my target and keep going to build an empire from there. I don’t know how to get started. Should I buy my first house, then buy a property, house hacking is currently not an option. Should I keep saving and renting? Then buy a property. I don’t have a lot of money to put into a property and if I spend my cash to buy my first house, it will take me more more time to save. I want to invest in a deal in 2019. Thank you for any time and advice you could provide.