All Forum Posts by: Polly Feeney

Good luck Garrett Pearson!  That is what I found in Chicago too but I haven't spent a ton of time evaluating properties there yet.  Please reach out to me after you get your first investment property.  I'd be curious to see how another newbie is doing.  

Thanks Evan Wiesner !  I love Portland by the way.  I really wanted to own some property there but wow it has gotten expensive.  One of my favorite cities.  

Yeah Nathan C. that's where my husband and I have been, just researching a lot. I don't have a ton of capital but enough to get started I think. I'd need to tap into my primary home equity to get the ball rolling unless I did a loan up front for the prospective property with like ~80 LTV.

REFI my primary residence into a 30 year loan, take a lump sum from the equity?  Is that your idea?  I'd hate to do that, I have a pretty low rate on my home..  3.5%  Or are you talking about after I get an investment property then REFI and get the cash back out?  That is the plan after I get investment property number one.  

I'm just trying to find a way to get started.  Seems like making a cash offer would give me better chances of finding a good deal but I'm still learning as I go here. 

Thank you for the input.  Can't blame you for choosing Jax.

Mindy Jensen Thanks!

After googling for many hours I have narrowed down my "where to invest" to the following cities:

Indianapolis

Jacksonville

Tampa

Orlando

Des Moines

Philly 

Chicago (outside chance)

Fort collins (very slim chance)

I'm looking to try to get the BRRRR ball rolling in one of these areas with my initial "all in" cash on the first investment at roughly ~70-135k. (Preferably not in D housing.) Then hopefully keep buying. I can probably get a better deal with cash in hand right? Then REFI.. I'd have to HELOC to get the full sum of this cash. (By the way, what are my best bets with getting a good deal on a HELOC? (Giant national online company or local savings and loan? Anyone know?)

The problem with the aforementioned list is that it is a very similar list as everyone else on BP here lately which means there is going to be a lot of competition right?  I'd rather find a location that isn't so saturated with investors if possible.  But then again these areas are desirable investing locations for a reason right? 

If anyone knows another great place to BRRRR right now with a chance of future appreciation send me a message... or if you have any contacts for a really good deal finder let me know. Or if you are a deal finder in one of these areas let me know. Still trying to figure all of this out. Getting incrementally smarter by the day.

I might do that.  Thanks for the offer James!

Alyssa, I definitely don't have those connections. What I saw on the MLS last year and crunched numbers on just didn't make sense to me personally but if there are some great off-market deals I'd love to know about them!

Alyssa,

Thanks for info.  I grew up in Moore (suburb of OKc).  Most of my family is in OK.  Last time I looked at OKc I didn't see the cash flow or appreciation I'd want for the risk of trying to do out of state investing.  The buy/rent ratio didn't excite me for buy and hold.  Maybe it's changed.  I can take another look.  

Joe, 

Philly is definitely on my short list for out of state investing locations.  Ok if I message you to pick your brain a bit?  Thanks!

James, 

Thanks for the info!  Can't quite follow it all yet but I'll have to take a look tonight when I'm not at work in a meeting....