All Forum Posts by: Taylor Hudgins

Hi @Roshunda Jones!  That is so exciting that you're starting your investing journey!  All are great options depending on what works best for you.

It'll be a little harder with the different time zones and the limited communication, but if you build a great boots on the ground team (agent, contractor, property manager, etc.) you should be able to get started!  

Another great way for you to start is using your VA Loan to purchase a multi-family in the area you want to live in and rent out the other units to lower your own personal mortgage payment.

Are you from the Hampton Roads area?

@Justin Campbell Yes!!! It's good! VA Beach alone is a little harder to invest in because of the higher demand. Most investors here invest in local places like Norfolk, Portsmouth, and Chesapeake which are all great residential areas. VA Beach is good for short term rentals; especially AirBnBs depending on the property. Would LA work for short term rentals too??

@Justin Campbell  Ohh nice!  It's always great to be able to invest in areas you know really well!!  I imagine LA is only slightly more expensive. haha

Hi @Kevin Rios!  Welcome to the BP Forums!! I'm from a rural area originally and we looked into property management there when first looking.  I only could find one property manager in the area and we were going to have to use them strictly out of limited options.  If you do have multiple options for property managers, definitely ask them about there policies, payment methods, tenant screening techniques, etc.

Here's a great post I found too! 

https://www.biggerpockets.com/blog/2015-01-14-rental-property-manager-how-to-choose

Have you had a chance to find any property managers in your area?

Congrats on the first flip @Justin Campbell!!! Was this an out-of-state property? or was it near where you currently live?

Hi @Bryant Wischmeyer!  Welcome to the BP Forums!   

I think it's still a great time to start, because you can learn from others who are going through this pandemic as well!  Everything is changing week to week so it's hard to tell what will happen for sure once this is over.  

Now may not be the best time to purchase a buy and hold due to the inability to evict BUT it may be a good time if you're open to purchasing a property to rent out to Section 8 Tenants which are paid through the government.  In our area, we're still seeing a lot of buyers purchasing homes if you're a flipper selling a vacant, rehabbed property.  Then there are other areas like Pennsylvania that have been on a solid shut down with extremely limited transactions over the last months.

Each situation is different - What kind of investment property are you looking to start with?

Of course @Mikael Anwar!  Let me know how you like them!  Or if you run into any other awesome books - I'm a huge book nerd always looking for new reads!! 

Hi @Millie Baptiste!  I'm not in the NJ area, but you could try going to BiggerPockets.com > Network (in the top ribbon) > Real Estate Agents and then filter by your zip code.  Feel free to look through all the agent profiles and see if there is a common firm that many of them are a part of.  If they're on BP, there's a good chance they work with investors quite a bit.  

I also just saw you posted this a few days ago.  Have you had any luck yet?  Finding a great firm will definitely get you started on the right track!

Hi @Edmund Post !  I'd say do what works best for you!  Cameron definitely has a great point, but if your open to having an out-of-state rental, totally go for it!  

I'd purchase a small property (for easier maintenance) to live in for those few years and then convert it to rental property when you're ready to move.  Especially in Durham, you'd have access to renters for UNC and the Research Triangle Park areas.  The Triangle has so many booming businesses and universities, you'd have a lot of options for renters with people constantly moving in and out.

Have you had a chance to look at potential rent comps in the Durham area?

@Mikael Anwar Of course!  Depends on what you're looking for but I highly recommend any of the BiggerPockets Books.  And of course the classic Rich Dad, Poor Dad by Robert Kiyosaki along with The Millionaire Next Door by Thomas Stanley.