All Forum Posts by: Wale Lawal

 Yes, you got what you need for the most part. Keep us posted on your progress.

@Malcolm Brown

Welcome to BP!

Starting out in real estate can feel overwhelming, but breaking it into clear steps makes it manageable. Start by getting pre-approved for a loan, ensuring your credit score, debt-to-income ratio, and finances meet lender requirements. Educate yourself with books, podcasts, and market research, define your goals, and build a team of professionals to support your journey. Focus on analyzing properties and starting small, like house hacking or buying a single-family home to rent out rooms, while ensuring cash flow and maintaining an emergency fund. With patience and a solid plan, you’ll be on your way to building a successful portfolio.

Good luck!

@Daniel Madhavapallil

Congratulations on your 4-unit house hack! To maximize your tax advantages, treat 75% of the property as rental income-producing, allowing you to deduct expenses like mortgage interest, property taxes, and depreciation on that portion. Keep detailed records of repairs, improvements, and rental income, and consider working with a CPA specializing in real estate to ensure you're taking full advantage of deductions and strategies like passive losses, home office deductions, or even the Qualified Business Income deduction if applicable.

Good luck!

@Stephen Patton

Starting in real estate can feel overwhelming, but breaking it down step by step is key. Begin by educating yourself through books like The House Hacking Strategy and podcasts like BiggerPockets, and join online communities for support. Consider starting small by house hacking a single-family home, renting out rooms, or adding an ADU if possible. Focus on getting your finances in order, setting achievable goals, and finding a mentor or local real estate groups to guide you. Remember, confidence grows with each step, so take action and keep moving forward!

Good luck!

@Omar Santander

It’s fantastic to see your enthusiasm for real estate! To start your journey, I recommend focusing on building your network by joining meetups and engaging in online forums, while narrowing down your first investment based on your budget, market, and goals. Build a strong team with experienced lenders, real estate agents, and property managers, and educate yourself through books and podcasts. Consider starting small with house hacking a duplex or triplex, and use tools like the BiggerPockets Rental Property Calculator to analyze deals.

Good luck!

@Fabio Cattolico

From my experience, balancing career growth, cost of living, and real estate goals is a smart move. If you move to NYC, focus on maximizing your earning potential while investing in affordable out-of-state markets with strong rental demand, like San Antonio or Indianapolis. If you stay elsewhere, consider relocating to a thriving, affordable market like Charlotte or Tampa, where you can house hack or live in a property before transitioning it to a rental.

Good luck!

@Tony Schmucker

From my experience of working with over 400 investors, your strategy to relocate, house hack, and transition properties to management is a strong, methodical approach. Focus on cities with favorable price-to-rent ratios, population growth, and employment trends, such as Des Moines, Oklahoma City, and Charlotte, while considering factors like landlord-friendliness and property taxes. Narrow your top cities, build a local team, and refine your financial analysis to position yourself for success.

Good luck!

@Mitch Provost

From my experience of working with over 400 investors, your property near Texas A&M in College Station/Bryan has strong investment potential due to the consistent demand for student housing driven by steady enrollment growth. Its proximity to campus, turnkey condition, and rental history make it particularly appealing to investors seeking high cash flow and low vacancy risks. To maximize its appeal, highlight rental performance, market it on investor-focused platforms, and consider selling before the academic year to attract buyers ready to capitalize on rental income.

Good luck!

@Arun Maheshwari

From my experience of working with over 400 investors, Richmond, Texas, is a promising location for single-family home investments due to its growing population, suburban appeal, and proximity to Houston's strong job market. To succeed, focus on properties in high-demand neighborhoods like Pecan Grove or Aliana, and ensure your cash flow analysis accounts for high property taxes, potential HOA restrictions, and flood insurance costs. With careful planning and local insights, Richmond can be a solid addition to your investment portfolio.

Good luck!

 @Greg Kurzner Thank you for speaking highly of me. Very much appreciated.

@Timothy Finney Glad you are ready to take action. You have received a lot of advice here already. 

Send me a Direct Message and I will be able to point you in the right direction.

All the best.