All Forum Posts by: Alan Feldman

That's the beauty of REI, there are so many ways to invest, so many variables, so many levels of risk, you can decide when and how to invest. Being ready to invest can be a combination of funds and knowledge.

In my case, my goal is to get a below market 4 plex that ARVs for $200k, fund 20% of the loan, make $200 per door in profit, and have multiple options for next steps in 4-6 years.

Welcome! We are one of the rare ones that find BP through the podcast. Since finding this resource I have listened to almost all of the podcasts, attended webinars, and read tons of materials. You are in good company and the scam factor is pretty low from what I have seen, and low compared to other REI message boards.

The beauty of a house hack is the timeline for renovations can be extended. It's a live in flip. So you could just live in the space a little while then decide what to do later. Unless of course it's not working, then it will force a quicker rehab. 

IMHO, I would move in and decide later. You would be surprised what you come up with after you are in the space.

I recommend you check out the podcast #384 with Spencer Cornelia :)

There are a few things that MUST be done when Long Distance Investing.

I also recommend a home inspection. The information gathered from this can help you in the future.

I would definitely get a professional inspection done. Even if it's an "as-is" deal. The info gleaned from it will help you immensely.

Also check out some lists and templates from the BP files page. It's the best kept secret on BP.

You might want to look into buying into someone else's syndication to get started. It's a way to partner and build experience, while making some returns along the way. Then when you are ready, and it makes sense you can invest on your own.

On the flip side, Do you really want the tenants fixing things? 

I agree. Should we measure by "time of blood, sweat and tears let" or "volume of blood, sweat and tears?"

Great job BTW

on top of a permit to build, you may need an annual rental inspection. depends on your local municipality. 

Also basement bedrooms need fire escapes, like egress windows. 

better do it with permits.