All Forum Posts by: Timothy Lewis
Timothy Lewis has started 6 posts and replied 357 times.
Post: Choosing an Out-of-state market for BRRRR investing
- Investor
- Miami, FL
- Posts 377
- Votes 258
Originally posted by @Remington Lyman:
Originally posted by @Kenneth Burdick:
Hello BP community,
Aspiring real estate investor here from California with the goal to make my first rental property purchase in the next few months. Right now I'm at the point where I'm trying to home in on a good out-of-state market. Some of the areas I've been taking a look at include Charlotte, Orlando and Memphis. I'm hoping to find places that still have positive cash flow potential, long-term appreciation but also somewhere the BRRRR strategy works well. Any other areas that you all have found success that I should be taking a look at? Doing my own research but I want to build my network as well. Thanks in advance guys!
Ken
It does not matter where you start as long as you develop your Core 4. The core 4 is David Greene’s strategy for long-distance and made up of a realtor, contractor, property manager, and lender. Once you have this team in place, you should be able to confidently invest in any market.
As for picking a specific market - I would go after one with an increasing job and population growth. I invest and work in Columbus, Ohio.
100% agree with this.
Post: How would you retire/FIRE w 500k cash now?
- Investor
- Miami, FL
- Posts 377
- Votes 258
Originally posted by @Greg Scott:
With that much cash, look at getting into bigger investments, not condos. Condos are not smart investments since you do not control a large portion of the expenses.
Consider getting into multiple apartment deals.
I agree. I would keep my job for a little while longer and go for an apartment acquisition
Post: Thoughts on house hacking with intent to move to a new state soon
- Investor
- Miami, FL
- Posts 377
- Votes 258
@Dylan S.
Outside of credit score, banks will want to see a steady income before they lend to you.
My first property was a house hack. I've helped many clients in the past buy properties for house hacks.
Post: Spreading Love from Miami! Hello BP!
- Investor
- Miami, FL
- Posts 377
- Votes 258
Welcome and good luck!!
Post: Our 1 year journey to 22 units & $10,000/mo cashflow without OPM
- Investor
- Miami, FL
- Posts 377
- Votes 258
Huge Congrats!
Post: New Investor In Florida!
- Investor
- Miami, FL
- Posts 377
- Votes 258
Welcome to The BP Family and congrats on taking the leap
Post: Thoughts on house hacking with intent to move to a new state soon
- Investor
- Miami, FL
- Posts 377
- Votes 258
- Increase cash reserve
- Graduate, get a job, and become lendable
- Pull the trigger on a house hack. House hacking works in most markets but especially well in expensive markets like California and Miami
Post: Wholesalers in South Florida
- Investor
- Miami, FL
- Posts 377
- Votes 258
I'll shoot you a PM. I have a couple that I work with
Post: Miami Florida Real Estate Investor Mentoring
- Investor
- Miami, FL
- Posts 377
- Votes 258
I'm happy to help if you have any questions
Post: Looking to Network w/ Real Estate Investors In Florida
- Investor
- Miami, FL
- Posts 377
- Votes 258
I'm happy to help if you have any questions.