All Forum Posts by: Rhealaine Sayson

Hi Bryan! With $500k in equity in your home, you have a few ways to use it for buying rental properties. You could get a Home Equity Line of Credit (HELOC), a cash-out refinance, or a home equity loan. Each option lets you borrow money against your home's value. It's best to talk to a mortgage professional to see which choice works best for you. Once you get the funds, you can use them for a down payment or even buy a rental property outright. Good luck with your investing!

Hey Jamison! Welcome to the BP community! It's awesome that you're starting your real estate journey. With your income and potential for growth, you're in a good spot to invest. Syndication deals are great for passive investing, letting you focus on your career while learning from experienced investors. Flipping or multi-family homes can also be a good way to get hands-on experience and learn the ropes. You might want to start with passive investments and move into more active roles as you gain confidence. Keep learning from books, podcasts, and other investors. Good luck, you're on the right track!

Hey Kendall! Getting into real estate to earn extra income and eventually buy a home in San Diego is a smart idea. Even though the market can be tough with higher interest rates and changing prices, it's still a good time to invest if you're strategic. Investing out of state might be a good way to find more affordable properties with better cash flow. For example, the Memphis market, where I'm located, has great entry points with strong rental demand and good cash flow. You should look into markets like Memphis that have lower costs and strong rental demand. With careful planning and research, you can still find good deals and reach your goals. Good luck!

Hey Jon! Your criteria look good for finding properties with solid equity and motivated sellers. Focusing on individually owned properties with no more than one mortgage and at least 10 years of ownership should help you find places with good equity. A minimum home value of $400k and a minimum rent of $2500 will target properties with decent value and income potential. Looking for owner-occupied homes might narrow your options, but it can help you target a specific group of sellers. The LTV range of 1-60% is great for making sure the owners aren't too leveraged. These criteria should help you find well-positioned properties and sellers ready to deal. Good luck with your direct mail campaign!

Hey Mike! You've done great moving from SFHs to land flipping and building in Tennessee. The market has changed, making it harder to find easy deals due to high interest rates and tighter conditions. However, there are still chances out there, though you might need different approaches. Some investors are looking at emerging markets and smaller cities for cheaper entry points and better cash flow. Niche areas like short-term rentals, assisted living, and co-living can also offer high returns, especially with value-adding options. Others are considering commercial real estate with stable tenants or the build-to-rent model for more control over costs. Creative financing, like seller financing or partnerships, can help make deals work. Even if big discounts are rare, exploring these new areas could still be successful. With your experience and funds, you're in a great spot to find new opportunities.

Hey Sean, congrats on preparing for your first investment property! If I had to give one piece of advice, I'd say focus on buying for cash flow rather than just appreciation. Cash flow will provide you with a steady income and a safety net for any unexpected expenses, which is especially important when starting out.

Hey Mark! If the new owner is interested in the house plans, you could offer to sell them at a reasonable price, maybe a few hundred dollars, considering their age. However, if you want to be generous and build a good relationship with the new owner, giving them for free could be a nice gesture. It’s really up to you and what feels right.

Hey Blue! You have a good opportunity with those five properties. Spend $15,000 per house to make them rental-ready and hire a property management company since you don't want to manage them yourself. Your rough math shows a 7.5% ROI, which can be improved by increasing rent over time or reducing costs. Selling and reinvesting in stocks is an option, but real estate can diversify your portfolio if you want to discuss this further, especially about investing in Memphis, TN, where the market has good opportunities, private message me.

Hey Akhtar! Welcome to real estate! Start by learning from books, podcasts, and blogs. Join local groups and meetups to network. Memphis, TN, is a great market with many opportunities. I'm a Virtual Assistant for an experienced real estate investor in Memphis. Private message me for more info.

Hey BiggerPockets Community!

I wanted to share some insights on the Memphis real estate market for July 2024. Home prices are rising steadily, with a 7% increase from last year. The rental market is strong too, especially in Midtown and East Memphis, with low vacancy rates and a 5% rise in rental prices. New developments in downtown Memphis are set to boost property values. With the city’s growing job market and affordable living, demand for housing should stay high. Interest rates might stay stable but keep an eye on them. Emerging neighborhoods like Binghampton and Cooper-Young are getting popular. For investors, multi-family properties are great for cash flow, and local networking is key. Let’s connect and discuss how you can make the most of your investments in Memphis. Feel free to reach out!