All Forum Posts by: Wale Lawal

@Frank Alfano

Welcome to BP!

If you’re looking to connect with private lenders, start by tapping into your existing network—friends, family, and colleagues can often be a great starting point. From my experience, attending local meetups, lending-specific events, and networking with experienced investors can open doors. Be active on social media, share your investment goals, and focus on building trust. The key is to consistently put yourself out there and learn from others in the process.

Good luck!

@Elizabeth Leb

If you’re starting with $20,000, focus on defining your goals and exploring the best options for your situation. From my experience, house hacking or turnkey rentals can be great entry points. Partnering with experienced investors or investing in REITs or syndications is another way to get started. Build a solid team, analyze deals quickly, and network with local agents, lenders, and contractors. Remember, thinking long-term and taking imperfect action is key to building wealth and gaining experience.

Good luck!

Quote from @Shawn Tuma:

Thank you for all the helpful insight!! @Jonathan Greene, @Johnny Lynum, @Wale Lawal, @Eric Bilderback

 You are most welcome.

Quote from @Lolo Druff:

I am looking to buy my first investment property, and my goal is to continue building this portfolio every year until I can live off my rental income entirely. I have about $400K to deploy, but would prefer to buy several duplexes rather than 1 more expensive building. I live in CA but am open to investing anywhere that makes financial sense. Cash flow is important of course, but so is appreciation, so I want to ensure I have a balance of both. Is it wise to buy some units with high cash flow and low appreciation, and others with lower cash flow but high appreciation to diversify my portfolio?  

I was looking in Columbus OH but the market is so saturated and it's been difficult for me to find cash-flowing deals there. Any deal that I've found seems to have sold within the last 2 years, and its alarming as to why it's back on market again unless they have problems with the building and/or tenants. I'm open to all suggestions regarding different cities that meet my requirements and would love to chat with some realtors who have local experience working with investors. 

 @Lolo Druff Real Estate Investing is not like Trading Stocks or Crytocurrency.

Real Estate Investing requires some deep thought and research from you as an Investor.

Having 400k to deploy to multiple duplexes is a great start but you have some questions to ask and answer yourself. Questions like the ones below

1. Why do you want to invest in Real Estate?

2. What are your investment goals and can you achieve the same results with other asset class?

3. What real estate strategy do you want to start with? Start with strategy

4. Are you going for cash flow or appreciation or a mix of both?

5. What are the markets that support your goals and ROI expectations?

6. On a scale of 1 to 10, what is your risk tolerance level? Like every investment asset, real estate investing is not risk-free.

And many more.....

Answering these above questions will allow you to ask your potential real estate agents the right questions.

Remember that the quality of your questions has a direct correlation to the quality of the answers you get. 

Looking everywhere is not the best way to go about it. Do your own research based on what is most important to you and your risk threshold then go from there.

I will recommend you learn more from this forum post here: https://www.biggerpockets.com/forums/48/topics/1159104-overl...

Goodluck and keep us posted.

Quote from @Elin Trinh:

Hi,

I was looking at new construction (0 Westcott St, Houston, TX 77016).  When I used the Insight Property tool on BP it had the median rent at $2500 per unit.  But when I looked at the description it says that potential rent is $1200 per unit.  I tried rent at $1500 for each unit and it still cash flowed at $282 per month.  the GreatSchools rating is low for Elementary, Middle, and High School.

Is anyone familiar with the new subdivision?  What do you estimate rent at?  Do you like the area?  

Thank you in advance for your help.

 @Elin Trinh This is a Question for your Real Estate Agent. Are you not working with any Local Realtor? I have sold couple of homes in Wayside village by Rausch Coleman and I can help you answer all these questions if you are not already working with a Real Estate Broker.

Send me a DM if you need my help. Thank you

Quote from @Adeva Edobor:

@Wale Lawal Thank you for all your contribution to BP. I just watched your episode on the podcast and you seem to know your stuff. I have an agent that's recommending a new construction in that zip code. Wayside village by Rausch Coleman to be exact. They claim a 3/2 can rent for $2,300. That will meet the 1% rule, but is it realistic in that neighborhood?

If you are already working with an Agent and you trust your Agent then you should trust their recommendation and advice.
I have sold a couple of homes in Wayside village by Rausch Coleman and the monthly rent price depends on so many factors so I can't answer you a Yes or No.
All the best.

@Jared Leggett

From my experience, house hacking in NYC is doable, but it often means looking into more affordable neighborhoods or smaller properties. Starting with an FHA loan on a property with separate utilities is a great way to begin. You can also leverage stable income for creative financing and explore BRRRR in markets like Rochester to build equity and cash flow. Keep your long-term goals in mind to steadily grow your income and savings through house hacking.

Good luck!

@Shawn Tuma

From my experience, you can boost rental income and manage mortgage costs by targeting value-add properties and exploring mid-term, short-term, or room-by-room rentals. Look for properties with low taxes, separate utilities, strong demand, and potential for rent increases. Negotiate seller concessions, consider affordable markets, and focus on long-term equity growth through appreciation and loan paydown. Connecting with local experts can also provide valuable insights to refine your strategy.

Good luck!

@Parker Bullard

From my experience, house hacking is a great way to reduce housing costs by renting out part of a property, like a duplex or triplex. It can also help cover HELOC payments if you find a property with solid equity potential. Focus on long-term rentals in affordable markets with reliable cash flow, and steer clear of high-cost flips, lower-class properties, or overleveraging in areas that rely solely on appreciation.

Good luck!

@Lolo Druff

When investing in properties, I aim to balance high cash flow with appreciation potential in affordable, stable markets with strong rental demand. I’m exploring emerging areas like San Antonio, Houston, Austin and Dallas. To scale, I plan to build a reliable local team, leverage 25% down payments, and use strategies like HELOCs or cash-out refinancing for future acquisitions.

Good luck!