All Forum Posts by: Andrew Mowe

HEY BP COMMUNITY!

I would love to get some honest feedback on my thoughts.

I’m considering switching my career to become a real estate agent. I’m 25 and have been in the trades as an electrician for the past 7 years. I make a above average wage in the north east but I definitely feel worn down by the type of environment because I’ve always wanted to work on my own schedule and build something for myself. Now that I have found real estate investing and the industry as a whole to be a great driver for me, I’m considering making the switch.

I know money isn’t guaranteed and that being self employed may make it “harder” to qualify for loans on the investing side but I’ve always had a good work ethic and I want to realize a vision of being financially free by building something for me.

I can see myself making money as an agent as my income source and using that passion and knowledge to buy properties myself in the process.

AM I CRAZY!? Let me know what you think.

Hey BP community,

I’ve been racking my brain about the best ways to finance deals number 2 and 3 of my portfolio and I want to see what you all think.

I'm already working on closing my first deal with a low down FHA loan for a house hack where I'll be living in and breaking even on expenses.

I want to get deals 2 and 3 as soon as I can without depleting my cash reserves. I would love to hear some financing strategies for someone like me just getting into real estate.

Can’t wait to hear back!!

@Jorge Manzanares

Thanks Jorge! Appreciate the encouragement brother.

@Alexis York

Thank you!

@Forrest L.

That’s awesome! Exactly where I’m trying to go ASAP. I appreciate the insight for a newbie like me.

@Nicole Heasley

Hey Nicole thank you for the insight. This place will meet my criteria if/when I move out. I think I’m getting stuck analyzing deals because I think I need to be cash flowing a certain about even while living in one unit. But if I break even living in the place then that third rent becomes my cash flow when I move out. Thanks.

@Daniel Haberkost

You’re absolutely right. I don’t want to pay to live anywhere ever again. I still need to analyze more deals to get more comfortable with my numbers but living for free will definitely help free up my income to put back into my capital. Thanks Daniel!

Hey BP community, I’m starting out in real estate in the north east. I want to house hack my first property by buying a multi-family(3unit) to live in and rent out the others.

When analyzing this deal, is it ok if I break even on my expenses (using only 2 out of 3 rents) because I’m living in one unit and sacrificing that extra income? Considering if/when I move out I will cash flow well because that 3rd unit will essentially be 100% cash flow? I would love to get some insight on this strategy as I start to analyze more deals and walk through lots of homes. Thank you all!