All Forum Posts by: Remington Lyman

Hi everyone,

I’m based in Southern California and currently renting. I’ve been wanting to get into real estate investing, but I’m not sure where to start in a high-cost market like this. My goal is to build long-term wealth and hopefully move from renting to owning (and maybe investing in additional properties in the future).

For those of you who started out in a similar situation—especially here in SoCal—what would be your top advice? Should I be looking out of state for my first investment, focus on saving for a local property, or try something like house hacking?

Any insights, tips, or even lessons learned from your own journey would be super helpful.

Thanks in advance!

Am I looking for a needle in a haystack? We have a few free and clear rental properties we would like to take a HELOC on, but with their values all hovering around $100k we would like to form a blanket loan to maximize leverage. Is this possible? Are all rental HELOCS underwritten like Fannie/Freddie or are there DSCR options out there? Not looking to do a cash out refi as we don't want to pay on the money monthly until we find the perfect property. Thanks for any tips!

Good evening,

My name is Andrew, I’m 22 years old, and I wanted to take a moment to reintroduce myself to the community. I’m currently a university student with one year left, studying and working in the healthcare field. My military background has instilled in me a strong sense of discipline, motivation, and a willingness to learn—qualities I now channel into my pursuit of real estate investing.

I’ve been following BiggerPockets since I was about 17, dedicating the past several years to expanding my real estate knowledge through countless podcasts and several books, including Rich Dad Poor Dad, The Millionaire Real Estate Investor, Section 8 Bible, and Inc. Yourself. I’m always on the lookout for my next great read to further my education.

For years, I’ve been on the sidelines—watching others live the dream I aspire to—while learning the importance of networking, something I’m now making a more intentional effort to pursue. I’m eager to become more active in the investing and networking space, even though I’m not yet in a position to purchase a property on my own. I have been researching out-of-state investing markets like Columbus, Indianapolis, and Canton, but I still have much to learn about analyzing markets and these specific areas. I am interested in single-family or multi-family homes with a positive cash flow, but more importantly, I am looking to get my foot into the market and further my education by starting my investing journey. I will always have a lot to learn in this business, but I do believe my next step is my education is finally getting off the sidelines and learning firsthand.

Like many aspiring investors, my biggest hurdle has been saving for a down payment, despite living frugally. I have been able to save a good amount while in university for a down payment, but not a full 20% +CC down payment. I've also been exploring creative financing strategies, as I may not yet have the qualifying DTI ratio or two full years of stable employment history. Still, I'm determined to find a path forward, leveraging my growing knowledge, resourcefulness, and willingness to work hard to make my first deal happen and to work on connecting with like-minded people who may have once been in my position.

Should I refi as high a percent as I can to have cash now or just cost ?

I have successfully completed new builds of two triplexes in rural Ohio. Total costs including property are $285,000. One refi is complete at 147,000 and I plan on the same number for the second. Renting each one bed unit at 700 per month no utilities included in rent . Current strategy is keeping payments low and cash flow high. Any thoughts on if this is the best way to do it ? I have room on this property and another I purchased across the street to build 4 more. I own a small construction company and am doing all of the work myself. I have quit my w2. I am 36 hoping to semi retire at 40. 

Hello. I am interested in getting into real estate investing . However I am in fear of buying a bad deal and losing all of my saving. I feel that I may need a mentor to guide me through my first few deal. Is there perhaps a real estate investing school that is available that I could attend to learn more about real estate investing? To learn more to find deals, and have more confidence in deal structure.

Hi BP Community!

I'm a newbie investor based in Utah, and I'm looking out of state for my first rental property. I'm aiming for long term buy and hold single family homes or small multifamily. I have about $50-70k all in to put into my first property. I'm working on market analysis currently, and two markets that stick out to me are Columbus, OH and Little Rock, AR. Both have relatively approachable home values below the national median with solid rent to price ratios, and good employment prospects with many large companies based or building in the area. I'm shooting for a balance of decent cashflow (nothing life changing) and steady appreciation. 

Would anyone investing in these areas mind sharing some pros and cons from your experience? With Little Rock, I've read that home insurance rates have increased in recent years and several companies have pulled out, so I'm definitely wary of that situation.

Thanks!

Melina

Mod here.  We do our best to delete obvious AI posts and responses, but AI is getting a little harder to detect at times. Also, there are only a few of us (volunteer) mods, and tons of posts/day, so we only see a fraction of them. Feel free to use the "report" button after clicking the three dots on a post if you see something that doesn't belong here. I also try to remove self promotional posts, and I have some keywords set up to alert me to posts that may be promotional, but I still only see a fraction of them. 

Quote from @Remington Lyman: I would guess this is last of the BP developers list to tackle

It better not be. I demand that the last thing on the developers list remain the BP App for Android. 

It used to be a hub of idea and experience sharing in every corner of real estate investment. Now it's mostly just a place for brokers and lenders to spam their services. Nearly all of the quality forum sections have been deleted. There isn't even a forum for discussing marketing to generate motivated seller leads anymore which is at the core of all real estate investment, nothing happens and nothing matters if there's no motivated seller.

Paying retail, getting bank financing, and renting out at a loss isn't real estate investing it's idiotic speculation at best and out right gambling at worst.

I do wonder where all the real investors went. Maybe they're all retired or dead. Maybe they're on private facebook/discord/whatever groups. There sure aren't many around here.