All Forum Posts by: Sarah Downey

Welcome to Bigger Pockets @Renee Johnson! 

You have come to a great place to learn and grow. I invest in my local market but I love hearing about other rental markets. 

Are you investing locally in Waupaca, WI? 

Hi @Schadrac Mertis

Here are a couple of options:

You could create an LLC for each property where they have some ownership. If they have lower ownership than you (usually 25% or less), they will not have to be on the loan request, but you can still use their funds.

We also have programs that allow for gift funds to be used. The family members would have to sign a letter gifting the funds for closing over to you. It is a pretty easy process. 

Let me know if you have any other questions or want to connect more! 

Welcome to Bigger Pockets @Austin Dias!

There are so many great resources here to help you on your journey.

Do you know which market you want to start in (local, out of state) and which method you want to use for your rental (LTR, STR, MTR)?

I would start there with your planning, and then once you determine which direction you want to go, start looking to connect with locals in that market to see what options you have. 

From what I have been seeing lately, some of the hot markets are Indianapolis, Philadelphia, Denver, Milwaukee, Charlotte, and Columbus, Ohio.

My husband and I bought our first property in Memphis from a turnkey company (they did the rehab and manage it for us), which was great starting out. We self-manage all of our other properties now because there are a lot of great resources out there to keep things easy.

 Feel free to reach out with any questions and best of luck on your search for your first property!

Welcome back to the fun, @Matt Villanti! 

Hi @Keeley Rhoads,

I would check out OBIE. They have great customer service.

Hey BP Community,

I am looking to connect with other local RE investors in Springfield, MO, where I invest personally on Bigger Pockets.  Are there any other local investors or real estate agents in this market looking to connect? 

I would love to hear what strategies you are using! 

@Nate Herndon may be able to give some insight on this, Shawn. 

Hi @Gil Levy

We bought our first rental in 2017 through midsouth homebuyers. They may go by REI Nation now. It has been a great out-of-state investment for us. They do everything and send us a check each month. I think we have had the same tenant in place with them since we purchased the property, too!

@Taz Zettergren is located in this market and probably has some great feedback for you!  

Hey @Jason Russell,

I would look for opportunities to work in the industry before you take off on your own. It is important to understand the industry and build relationships. 

I like @Wyatt Wolff idea of maybe starting as a loan assistant/processor to build more knowledge/experience. 

Great advice, @Min Zhang!