All Forum Posts by: Richelle T.
Richelle T. has started 8 posts and replied 318 times.
Post: Assessing Deal in midst of Gentrification

- Rental Property Investor
- Columbus, OH
- Posts 340
- Votes 111
Hmm this is a great question. I struggle with gentrifying neighborhoods also. My problem is that the new owner has to deal with the reality of the neighborhood the way it is. The seller wants to sell based on speculation. Gentrification in my opinion, is only profitable AFTER it has happened. Anything before is pure gambling. Some of these neighborhoods have been dubbed as the "next big area" for the last 20 years! Yeah... I'm not in the market to spend the equivalent of an investing career to be on the cusp of what really is nothing tangible.
Post: What exactly makes REI risky?

- Rental Property Investor
- Columbus, OH
- Posts 340
- Votes 111
I bought my first property in college. My advice would be, if you can manage to have a job and study, then get a job. You will need at least 1 year of income to qualify for a mortgage. Since you will only have a high school diploma, you will likely qualify as low income. Most cities have first time homebuyer down payment assistance programs for low income persons. If you were to use the down payment assistance to purchase a homepath property you would be doing amazingly well. You would have the city helping you with the down payment (normally either a forgivable loan, 0% interest loan or grant- the amount and terms vary from city to city) and you would be able to purchase a property before investor competition. All in all you would have beat out investors with little to no money out of pocket.
I did this and basically did what @Blake C. did and got a roommate to cover the monthly expenses. It was a great way to start. Be careful to make sure you can meet the residency requirements the owner-occupant and down payment assistance programs require and you'll be off to a great start!
Post: Painting Lesson Learned

- Rental Property Investor
- Columbus, OH
- Posts 340
- Votes 111
Congrats on your first buy and hold @Jaclyn B. ! What part of the city did you choose? I'm partial to north Austin :-)
Post: Free & clear property going to tax lien sale.

- Rental Property Investor
- Columbus, OH
- Posts 340
- Votes 111
Post: Out of state investing in cash flow sfr's

- Rental Property Investor
- Columbus, OH
- Posts 340
- Votes 111
Post: "Investor Friendly" Real Estate Agents/ Realtors - Do we really need them?

- Rental Property Investor
- Columbus, OH
- Posts 340
- Votes 111
Post: Where would you invest?

- Rental Property Investor
- Columbus, OH
- Posts 340
- Votes 111
It seems so!
Post: Best States to Purchase Properties

- Rental Property Investor
- Columbus, OH
- Posts 340
- Votes 111
Post: Where would you invest?

- Rental Property Investor
- Columbus, OH
- Posts 340
- Votes 111
Post: Sample Direct Mail Letters!

- Rental Property Investor
- Columbus, OH
- Posts 340
- Votes 111
These are good suggestions for what we were discussing :-)