All Forum Posts by: Amy Kendall

@Paul S.  My gut wants to say absolutely not because you have access to so much information here through bigger pockets and podcasts.  But, it might depend on your situation and the amount of money you are able to part with.  If you don't yet have any real estate investments and don't have that $20k plus at least that much afterwards, then I definitely wouldn't be spending it on a course.  You could take that $20k and get into your first investment property.  I would encourage to learn as much as you can from cheaper books, podcasts, and forums.  Then, if you still think that investing in something like this is needed, you will have a solid foundation to make that decision.  After listening to so many podcasts about successful real estate investors, I can't remember one that started out by attending a guru event.  The knowledge you gain on your own with your own experiences will be worth far more.

@Matt Moylan My husband and I were in a similar situation.  He liked the idea of having rental properties but wanted to do it slowly.  A few things helped changed his mind, but probably the biggest change happened after we met another investor in our area that was very successful.  Seeing and hearing it from someone that had done it (and maybe not me) made all the difference for him.  If possible, try meeting other investors in your area that are doing or have done house hacks.  Take her to the houses and show her what they look like.  Show her deals that would work for your situation, drive by and see those homes.  She might just not be able to visualize the results and showing her might ease her anxiety about the process.

@Jack B. Is there a working stove that is available for them in the unit?  If so, I wonder why they feel they need the hot plate.  

I agree with the the above replies as well.  The seller should be willing to cover the remediation costs and with those levels, it shouldn't be hard to remedy this setback.  I have seen a lot higher levels in some investment properties and the remediation process went well.

@Paul Tenaglia Welcome to the BP forums. What area are you looking to do this is in? Be specific and mention the city or area and you will get a lot of BP members in your area that will respond and help you with good information. What exactly are you looking to do with the distressed properties? Flip, BRRRR?

@Jordan Hanks Welcome to the BP forums!  It sounds like you already have a good solid foundation for buying and managing rental properties, which will serve you well!  There are several meet ups in the Salt Lake City area that might help you get connected with other investors.  Good luck!

@Tanya Lechner  Sounds like you are off to a great start by setting goals and having a solid plan!  My husband and I also sit down every year and set goals for the year and it has made such a difference for us!  I hope 2019 is a good year for you!   Good luck

Sounds like a great plan and you get to live rent free as well!  Just make sure to save all that money you would have spent on rent so you can work out a seller finance deal with your mom, or venture out and get yourself your own property.

@Jess Fields  This is such a good question.  I think it depends a little on your financial situation.  My first two rentals were cheaper homes that my husband and I could afford and fixed up before renting them out.  Looking back, we bought them because they were cheaper and we were able to add a lot of sweat equity to those properties.  I don't regret it and I still own both those properties and they are some of my highest cash flowing properties.  It did, however, take a lot of our spare time and extra money.  Luckily, we did not have kids at that time!  My last few properties have been new builds, which I really am enjoying now.  The maintenance costs are very few compared to my older rentals, but I still don't see the cash flow that I got with my first few fixer uppers.  I would say it depends on where you are at in your life and how much spare time and money you have to do renovations.  Either way, best of luck!

@Laura Johnson  I think your plan is very solid.  My husband and I just had an entrance dug into our basement in the fall and are about to put our cabinets in and start renting it out as well.  We are going to initially try it as a short term rental and see how that goes.  We have 6 other rentals and are also about to close on 2 more duplexes in the coming weeks.  The strategy is very sound!  My husband was a little hesitant and reserved in the beginning, but once he saw the process working, he jumped all in.  I think you might see the same thing happen, and you might end up acquiring more than just two rentals in the end.  I have moved out of my home twice and converted it into a rental, and both times, I had no problem finding a renter and having a lease in place before moving.  You live in a great area, and I don't think you would have to go through the hassle of doing the double move.  Good luck!