All Forum Posts by: Natisha Phouphayly

Hi Melody, 

I currently live in Holland, MI and I have a rental property here. I think Holland would be a great place to have rental properties. It's the city of Tulips and it's close to Hope College. I wouldn't recommend Muskegon only because of the crime rates and neighborhood grade, but it's a great opportunity if you're up for any challenges! Traverse City is also an excellent location to have rental properties. Even if you can't rent out your properties, they would be great AirBnB properties. If you need more information in the Michigan area, feel free to message me. 

Have fun investing! 

Hi Rafael, 

You can find wholesalers through multiple ways. The first is being active in your local REI group. This way, you can build local connections and the people you build relationships with might know wholesalers in your area that they can recommend you to. You will have a sense of knowledge in their works because they are being recommended to you. Another way is by posting it through the media that you're looking for a wholesaler (short term or long term). You can use Craiglist, Facebook marketplace, Bigger Pockets and REI forums. Don't forget to mention that you're looking for wholesalers within your local area!

A tip and friendly advice is to build a relationship with them first before anything. Get to know them, understand how they work, and know their goals. In business, building connections is ultimately important to your businesses success. 

Have fun and be safe real estate investing!

Hi Alexander, 

The numbers are a bit tight in my opinion. What will your monthly payments be to your lender? Compare your profits and subtract it from utilities, PM, and cash reserves. Also consider marketing and vacant costs. Just always expect for the worse and stack up on your cash reserves.

Additionally, there are some private money lenders out there that do 90% LTV and cash out refinance 60% to 75% of the ARV if you keep it as a rental. Continue to compare your options with lenders and what is best for your short and long term goals.

Good luck!

Hi all! 

I just put my first BRRR property under contract. I just wanted Bigger Pocket's opinion on how to increase value on a property. With those who have experience, what have worked for you? For those who don't have experience yet, what do you look for when purchasing a ready to move in home?

I'm trying to budget but maximize my ARV as much as I can. Does having a granite countertop in kitchens make a difference compared to laminate countertops? What are your opinion on vinyl plank woods in comparison to hard wood floorings? Should landscaping be apart of my rehab budget? Questions like these always raise a curiosity to me. I'm looking forward to everyone's opinion and suggestions.

Thanks,

Natisha

Hi Karl,

I would personally buy another rental. Then I would use the profits from my rental income to pay for my debt. Repeat this until all your bills are covered from your rental properties! That way you will be building your credit long term and you are spending your money on something that is appreciating.

Have fun investing and be safe!

Hi Murphy, 

Welcome to Bigger Pockets! It looks like you already have a general plan set for investing in real estate. I'm looking forward to where life takes you on your real estate journey.

Have fun investing and stay safe! 

Hi James,

Welcome to Bigger Pockets and thank you for your service! I currently serve in the US Army Reserve and there's a handful or programs being in the military that can help you take your first step as a Real Estate Investor. I recommend listening to the Bigger Pockets podcasts if you haven't already! 

Stay safe and have fun investing! 

Hi all! 

Just a little information about me: I'm currently living and investing in the state of Michigan. In the future, I plan to eventually invest in Texas and the California market. I'm 21 years old that's graduating with a BBA in Marketing and Management this December. I love to travel and visiting the seven wonders of the world is a priority in my bucket list at the moment! 

I've been learning and educating myself in the real estate field for about a year now. I just bought my first rental property in June, 2020. I plan to use the 1031 tax exchange on the rental property once I build some equity in it. Additionally, I just opened an LLC with a partner this month. We are in the process of finding a fix and flip using the BRRR strategy.

Real estate is such an interesting, fun, and beautiful thing to be involved in! I can actually say I'm genuinely passion with it and I'm looking forward to where life takes me in my real estate journey. I just want to say, BIG thanks to Bigger Pockets and all the real estate/self improvement books I drowned myself in. It's really helped me take action and pursue the future that I want. 

For those who are just starting out or want to start out, I highly recommend having a vision board or something to read/see your goals everyday. It'll help you stay focus and it's always a great reminder! Or you can just order The Intention Journal by Brandon Turner. 

I look forward to being active on Bigger Pockets forum. Hope everyone stays safe and have fun investing! 

- Natisha