All Forum Posts by: Ryan Harrell

Hi @Zachary Young,

Investing in other cities is a great way to build a diverse portfolio. Markets like Memphis, Little Rock, and Oklahoma City offer affordability under $200K, solid rental demand, and better population and job growth trends. These cities often provide positive cash flow even with higher interest rates.

Since you’re investing out of state, a turnkey solution might be worth considering. Turnkey properties come fully renovated with tenants already in place, reducing the learning curve and allowing you to focus on growing your portfolio.

You could also leverage local expertise by connecting with real estate agents and property managers who know the market inside and out.

Feel free to connect if you want to discuss further. Good luck with whatever route you choose!

Hi @Brandon Morgan

I'm a little late to the party here, but whether or not to get an LLC is something many real estate investors consider, and it often depends on your specific goals and circumstances. You may not feel the need when you own just 1-2 properties, but it may be more relevant if you plan to expand.

LLC's separate your personal assets from your investments and offer you protection from lawsuits related to your property, they can help to establish a more professional image if you plan to expand, and they provide some flexibility on how you are taxed.

There are some drawbacks, included fees and administrative work, but it's ultimately best to consider speaking with a CPA to determine the best option for you. 

Good luck and hope to hear more about your success!

Hi @Johan Tejeda Welcome to BP! 

More than anything, real estate is a people business. There's always more to learn and building a network is essential to growth and success. 

Would love to connect to see how we can help each other grow. Looking forward to hearing more about your journey!

@Evan Haas Welcome to BP! You're right to think critically about this. Leveraging equity does involve some risk, so it's important to have a sound strategy to avoid overextending yourself. Using equity can be a smart way to expand your portfolio, but it doesn't have to mean over-leveraging or creating unnecessary risk. It's about finding the right balance between stability and growth. 

If leveraging equity feels too risky, you might consider using a portion of the equity to fund your next property while keeping reserves intact. This way, you’re still growing your portfolio without overextending.

Looking forward to hearing more about your journey. Best of luck! 

Hi Alex, I've also spent some time looking into STR. have looked into Gatlinburg, Destin, etc. good luck to you guys!

Hi Destiney,

Welcome to the world of real estate investing! It can feel overwhelming at first, but diving in and learning along the way is part of the journey. Managing your own property and finding tenants is a great way to gain hands-on experience. If you ever decide you want a more passive approach, there are turnkey companies out there that handle everything for you. Either way, best of luck building your portfolio!