All Forum Posts by: Thomas Murphy
Thomas Murphy has started 1 posts and replied 6 times.
Post: New Investor - Looking for mentorship in BRRRRs
- Posts 7
- Votes 15
@Nicholas L. don't mind my interjecting of this thread...I myself am also a REI newbie, and I'm just curious...what specific things make BRRRRing so difficult even when you are doing so locally? Is it the actual rehab part of the strategy? If yes, would doing your due diligence to make sure you have a quality contractor mitigate some of those issues?
Or is it a combination of things? I appreciate your feedback in advance.
Post: Out of state investing - newbie RE investor
- Posts 7
- Votes 15
Quote from @Sam McCormack:
Quote from @Thomas Murphy:
Hello everyone, for the past several months I have been passively educating myself on RE investing by listening to BP podcasts, reading through these forums, and analyzing some multifamily properties using the BP calculators. I am eager to begin building my portfolio with a focus on long term hold duplexes to start, but I want to make sure I am not getting too far ahead of myself too quickly.
I currently live in New Hampshire where it seems like entry prices for 2-4 units is pretty high (that is, if there are more than a handful for sale at any given time) so I'm not sure that this would be a good market to start in. With that being said, my curiosity has since shifted to out of state investing courtesy of these forums and BP podcasts. I have a pretty good understanding of the importance of building your "Core 4", but admittedly the thought of investing in a property you likely won't see in person is a little daunting.
I am currently looking in the Columbus, OH area and have also read some positive reviews about the Tulsa, OK area.
As a new investor, what are some actionable things that I can do today to get me closer to acquiring my first property? Side note, I have already been pre-approved for 2-4 units in NH, but I imagine that number will vary depending on the market I choose.
I appreciate any tips/tricks/recommendations and I appreciate your time responding to this post.
Happy new year!
Hey Thomas, if you like Columbus I may recommend you check out Greater Cincinnati as well. They have similar qualities and I think it is worth a look. I am an agent here so let me know if there is anyway I can help
Thanks Sam, if I find myself looking over that way I will definitely reach out.
Post: Out of state investing - newbie RE investor
- Posts 7
- Votes 15
Quote from @John Williams:
Hey Thomas, let me know if you'd consider another market. Many out-of-state investors choose my market. I try to serve as a one-stop-shop for them (sales/property management/recommended lenders/contractors).
Hey John, I'm certainly open to different markets. I'll send you a PM so we can talk more.
Post: Out of state investing - newbie RE investor
- Posts 7
- Votes 15
Quote from @Peter Dorinsky:
Quote from @Thomas Murphy:
Hello everyone, for the past several months I have been passively educating myself on RE investing by listening to BP podcasts, reading through these forums, and analyzing some multifamily properties using the BP calculators. I am eager to begin building my portfolio with a focus on long term hold duplexes to start, but I want to make sure I am not getting too far ahead of myself too quickly.
I currently live in New Hampshire where it seems like entry prices for 2-4 units is pretty high (that is, if there are more than a handful for sale at any given time) so I'm not sure that this would be a good market to start in. With that being said, my curiosity has since shifted to out of state investing courtesy of these forums and BP podcasts. I have a pretty good understanding of the importance of building your "Core 4", but admittedly the thought of investing in a property you likely won't see in person is a little daunting.
I am currently looking in the Columbus, OH area and have also read some positive reviews about the Tulsa, OK area.
As a new investor, what are some actionable things that I can do today to get me closer to acquiring my first property? Side note, I have already been pre-approved for 2-4 units in NH, but I imagine that number will vary depending on the market I choose.
I appreciate any tips/tricks/recommendations and I appreciate your time responding to this post.
Happy new year!
Hey Peter, I have definitely considered house-hacking but I am currently in a 1 year lease that is up in October. Once my lease is up I will definitely be looking for a property to house hack.
Let's connect and I'll shoot you a PM so we can chat more. Thanks!
Post: Out of state investing - newbie RE investor
- Posts 7
- Votes 15
Quote from @Samuel Diouf:
Hey Thomas, I live and invest in Columbus. I think this is a great market to enter. Many large companies are pumping money into our area, such as Intel, Google, and Amazon.
As for what to do, I think you are already taking the right steps that will lead to success. You are taking action. Continue to do research and once you have made a definite choice of where to invest, start working to build your team.
Happy new year!
Hey Samuel, thank you for your response. I agree, I think the addition of those larger companies certainly bodes well for market appreciation. I plan to do some more research going forward, but Columbus is definitely looking appealing.
Happy new year!
Post: Out of state investing - newbie RE investor
- Posts 7
- Votes 15
Hello everyone, for the past several months I have been passively educating myself on RE investing by listening to BP podcasts, reading through these forums, and analyzing some multifamily properties using the BP calculators. I am eager to begin building my portfolio with a focus on long term hold duplexes to start, but I want to make sure I am not getting too far ahead of myself too quickly.
I currently live in New Hampshire where it seems like entry prices for 2-4 units is pretty high (that is, if there are more than a handful for sale at any given time) so I'm not sure that this would be a good market to start in. With that being said, my curiosity has since shifted to out of state investing courtesy of these forums and BP podcasts. I have a pretty good understanding of the importance of building your "Core 4", but admittedly the thought of investing in a property you likely won't see in person is a little daunting.
I am currently looking in the Columbus, OH area and have also read some positive reviews about the Tulsa, OK area.
As a new investor, what are some actionable things that I can do today to get me closer to acquiring my first property? Side note, I have already been pre-approved for 2-4 units in NH, but I imagine that number will vary depending on the market I choose.
I appreciate any tips/tricks/recommendations and I appreciate your time responding to this post.
Happy new year!