All Forum Posts by: Shalen Takaaze

At the moment, I am looking near Nashville, TN. If I go further out, I can get a B- or C property for 100k. I would need to hire a property manager since I am out of state. 

I agree with you on your statement about using my own money for my first deal. Initially, I wanted to focus on that until I was presented with the option of getting into a more desirable property with a higher price tag. For me, I want to get started in this journey and get off to a good start. Perhaps it would be best to stick to the original plan and use my own money for my beginning stages. What are your thoughts on hard money loan vs. conventional mortgage now that the seasoning period has increased to 12 months? 

Looking for advice as I'm starting my long-distance real estate journey. Since I am investing out-of-state, house-hacking and putting down the 3% downpayment is out of the question. My first option is to go for a lower priced investment property (approximately $100k) that needs minor cosmetic repairs while the other option is to raise private capital and save for a higher priced property ($300-400k) that I can also do cosmetic repairs to increase ARV. I am torn since the lower priced property would at least get my foot in the door and begin to build momentum while the higher priced property would be more desirable in location, condition, tenants, etc. I am more open to hard money lending at a lower price point and refinancing within 3-6 months, but at the $300-400k, I would rather go with a conventional loan and refinance at the 12 month mark. Any and all thoughts on this would be appreciated!