All Forum Posts by: Wale Lawal

@Homero Matzenbacher

Welcome to BP!

To start real estate investing, learn deal analysis, and understand key metrics like cash flow, cash-on-cash return, cap rate, and gross rent multiplier. Use tools like BiggerPockets Rental Property Calculator and Excel templates. Practice with real listings in Indianapolis and focus on market knowledge. Explore neighborhoods with good schools, low crime rates, and rising home values. Consider house hacking and short-term rentals for reduced living expenses. Start learning with books, podcasts, courses, networking, building a support system, and preparing for financing. Start working on your credit score and research financing options, including FHA or conventional loans. Take action by summer next year and focus on progress rather than perfection.

Good luck!

@Sarah Miner

Starting with $200K in Fairfield, CT, offers familiarity with the market, existing team, and higher rent potential. Building a 1-acre buildable lot offers low entry costs and strong ROI. Exploring multifamily properties diversifies income streams and offers house hacking potential. Expanding the market to nearby areas and leveraging sales and marketing background can improve cash flow. Next steps include clarifying strategy, building a support network, and taking action.

Good luck!

@Kenneth Johnson

To invest in real estate, build a strong financial foundation, educate yourself, network, start small with house hacking, FHA loans, and savings, consider creative financing options, build sales and negotiation skills, and have realistic expectations. Focus on incremental progress and set a goal to purchase your first property within 1-2 years.

Good Luck!

@Jose Botello

Tax deductions for renovations in personal residences are not deductible for current use, except for home office use. If converted into a rental property, renovation costs can be capitalized for depreciation deductions.

Good Luck!

@Natali Cobb

In-unit laundry in duplexes can attract tenants, increase rent, and improve retention. However, landlords face maintenance, damage risk, and financial burden. To mitigate these, landlords can offer appliances "as-is," charge a fee, or allow tenants to bring their own.

Good Luck!

@Sequoiah Briseño

California multifamily sale and 1031 exchange purchases mandate landlords or property owners to issue 1099s for payments of $600 or more to a sole proprietor, LLC, or partnership, and request a W-9 from each vendor by January 31.

Good Luck!

@Renee LeFevre

To rent out your basement, follow these steps: check local regulations, prepare the basement with separate entrance, screen potential tenants, draft a lease agreement, set the right rent price, consider tax implications, update homeowner's insurance, and build a positive tenant relationship to attract quality renters.

Good Luck!

@Donald Hatter

Welcome, Donald! It’s fantastic to have a Realtor and investor with expertise in new construction homes joining the community.
Here's how you can engage and collaborate with the BP community. Share construction investment expertise, market trends, and negotiation strategies with BP members. Network for collaboration, learn from successful investors, and discuss ROI and financing techniques for meaningful conversations with Houston investors.

Good Luck!

@Andrew Maturana

To gain a competitive edge in the hospitality industry, explore creative ventures, Triple Net investments, house hacking, syndications, joint ventures, and leverage business acumen, networking, and resources.

Good Luck!

@Katy To

The BP community welcomes real estate professionals to share experiences, mentorship, and insights. They encourage networking, discuss market trends, and discuss development strategies, aiming to support growth in the industry.

Good Luck!