All Forum Posts by: Robin Roundtree

Thank you everyone! The good advice here is overwhelming and I appreciate all the different perspectives. We will continue to reread and analyze all this information while we work on strengthening our financial position and educate ourselves about the REI world. Many more questions to come! Cheers!

Quote from @Travis Biziorek:

Hey Robin, I can't give you specific advice because everyone's situation, risk tolerance, etc. is so different. But I can tell you about my similar experience.

In 2013 my wife and I purchased a town home in SF's Bay Area (Walnut Creek). It's a bit of a story but we ended up selling it in 2017 and moving to Metro Detroit. 

We had about $280k of capital to use for RE investing once we were settled. I used that to source off-market deals in the city of Detroit, pay cash, do some cosmetic rehab, and then refi back out.

Flash forward 2.5 years and we'd built a 12-door portfolio with almost no cash left in any of the deals. We saved up for another year, sold our home in Michigan, and moved back to California.

Now we're building an ADU at our primary and will be financially free once it's done.

Wow! That sounds amazing! Can I ask how you sourced off market deals? That sounds exactly like what we want to do, obviously with higher mortgage rates to consider we only want to engage in  cash only rehabs (my husband is a GC and can do everything) and also would flipping and selling or rehabbing and renting be better in this market? I’ve heard Detroit is a great spot for REI as well as parts of Ohio. 

Hi guys,

We have a home worth 650k, we owe 350,000 in a place where we couldn't afford to sell and buy another property (got in 2021, the 2.8% interest rate and before the crazy NW boom in Idaho.) We are stuck because my husband makes just enough to live, we've cut every possible expense and really want to acquire rentals but can't find the capital. We have 250k in equity in the home after realtor costs, is it crazy for us to sell, take the equity and move to a better cash flow market like Atlanta or Fayetteville, NC and start our rental acquisition? What are some great t (even if they're crazy) strategies for building the real estate empire with 250K if we could go anywhere and were will to do anything?