All Forum Posts by: Alec Jacobs

I know this post is very weird but I recently "broke-up" with my previous real estate investor because they weren't on the same page as me when it came to investing. 

I am now working with an agent that is an investor themselves and it is going very well. The problem is is that my old agent is still contacting me and trying to get me to view multi-family units with her and I have been kind of ignoring her (probably not the best move on my end) and she is getting more and more pushy. 

Why is she trying to pursue me so badly? I'm definitely more and more put off the more she keeps trying to contact me and I'm just at a loss for what to do. Any insight would be a greet help, thank you.

I hear a lot of people say something like "just buy a duplex every year" when it comes to househacking but is that actually possible?

This is hearsay but I heard a story about someone saying they tried to buy a 2nd househack after their first one but they couldn't because they needed "20% equity" in their first home. 

Is this an actual concern or is it just not true. And if it is a problem that you are most likely to face why haven't more people talked about it?

Hello, everyone!

My questions are, for someone with little sales experience, what is the best way to get into sales, how much should you vet potential companies to work for, and should I focus on becoming a real estate agent or does any sales job suffice? For context I am 21 years old and I worked as a retail employee at JCPenney when I was sixteen (not much sales experience) and I am currently an electrician making 42k a year.

I recently finished the new book Pillars of Wealth by David Greene and have enjoyed it greatly! There is a portion of the book that talks about how sales is a better environment for acquiring more capital as well as rewarding you more directly for your hard work compared to a regular W2 job. I am looking at my life a little differently and it seems that Sales is a great environment to push me to be my best. All thoughts are welcome!

Thank you!

Hello everyone. I want to dive deeper into real estate investing and I think having a mentor would be a great way to help me get to my goal faster. 

I was wondering how you would go about finding one specific to your needs. I plan on househacking and I wouldn't think that I would want a mentor who flips homes since thy wouldn't have any personal experience with what I want to do.

Any thoughts or answers are super helpful! Thank you and happy Thanksgiving!

Hello everyone,

I was wondering if you guys have any info/experience about living with tenants and how to screen them among other things.

I heard about initially having a short lease to kind of feel out tenants (specifically if you live with them as a househack/rent by the room) but I was wondering if any of you have any other systems you use or things not to do. 

Any advice would be appreciated, Thanks!

Hello everyone,

I was wondering if you guys have any info/experience about living with tenants and how to screen them among other things.

I heard about initially having a short lease to kind of feel out tenants (specifically if you live with them) but I was wondering if any of you have any other systems you use or things not to do. 

Thanks!

Hello everyone.

I have been looking at some homes in my target market, (Beaver/Vanport area specifically), and I was wondering how I could figure out how fast homes rent out and sell in that area. Is there a way to find this data on Zillow or is there a specific website or none of the above?

This is mainly just for my comfort because it would be my first rental property and I would like to know how much of a cushion I would need left from a down payment to cover rent for a bit if needed. Also, if things go really south I would also like to know how long I would typically have to hold on to the home if it was a bad purchase. 

Thanks!

I stumbled upon the "rent by room" real estate strategy that piques my interest quite a bit especially since I have not heard it being talked about at all. I have a couple of questions for those of you who use this type of real estate strategy. 

I heard that there can be a limit on how many people can rent out a room and it depends on the area. Is it different only on a large scale like by state to state or is it different in every town? Also, how would I find out the tenant limit in my area?

How do the utilities work? The home wouldn't be separately metered so I'm assuming you would just charge a fee but I don't know for sure.

How do you determine the rent amount? Each tenant would have one bedroom and share a kitchen/bathroom/Living space so I would think you would get a smaller amount than what an apartment would make but do you offset it by making your spaces really nice and charge more for luxury?

How do you vet tenants? Aside from me wanting to house hack (I guess "room-hack), these people will be roommates so I would think excellent tenants would be a must.

Anything other pertinent or just food for thought information would be greatly appreciated, thanks!

Thanks for your input! Could you elaborate on how you said "it's a bit harder to qualify for on the income side because you are not able to use the rental income"? It seems there are some factors I am not aware of with renting out rooms as opposed to an entire home.