All Forum Posts by: Angela Jossy

This is the question on my mind since I became obsessed with the prospect of purchasing a multifamily property and beginning my real estate career by house hacking. I have a good job and a steady income but saving alone will take me years to have a decent amount to cover down payment, repair costs and unexpected vacancies. If you were me, what would you do to get the investment capital I need? Help out an experienced investor and earn it while learning the business? (I am an apartment manager, graphic designer, web designer, social media expert, publicist, writer, festival planner and very connected person in Tacoma). Experiment with wholesaling? (double closing?) Invest in things like Lending Club and Prosper to earn interest on my existing savings? Finally finish writing my book on festival planning and market the heck out of it in hopes for a windfall of sales? Hard money? All of the above? Something else? What would you do to raise that capital in time to start 2017 as a bonafide real estate investor? 

As a part of my learning process, I decided to start at the first Bigger Pockets podcast and make my way up to the most recent ones. I'm up to show 33 now. What is occurring to me about this lack of deals problem is that maybe Redfin and MLS is a limited way to look at this. Maybe the wholesalers have the right idea and the direct marketing approach is the wiser path - to create deals instead of waiting for them to appear. I'm not ready to buy yet unless I took on a partner because I haven't saved up enough for an FHA down payment but maybe the "find a deal because the money will come" plan is not so crazy. I'm just keeping my eyes and ears open and continuing to explore all the possibilities right now.

thanks everyone! I love how responsive and helpful everyone is here! :)

I just randomly ran across an organization called Clubwealth.com. They offer a free consultation to give you a blueprint for getting started in real estate investing. Its intriguing for a newbie like me. I'm wondering if any of you locally have knowledge about this organization? I'm in the process of listening to all the podcasts and listening to a lot of the books (on audible) that people on the podcast recommend. I was just promoted to manager of the apartment building where I live in Tacoma so I will be gaining lots of valuable property management skills. (I was assistant manager of a different property before). I was thinking that I would like to find someone locally who is further down the path on real estate investing than I am who needs my graphic design/publicity/web/networking skills/property management and etc. so that I can watch deals from conception to implementation. I want to learn how to assess properties and run the numbers so that when its time for me to jump in and buy my first small multifamily home I will be ready. 

My friend is a well known real estate agent in Tacoma and I met with her last week to tell her of my goal to invest in a 4-plex (house-hacking) to start my plan to become a real estate investor. She said she has been hoping to do something similar but there are no deals in Tacoma. She said the market is so hot that she is just swamped trying to find houses for her clients. She said I should keep saving money so that I have at least 25k to cover my FHA down payment, home repairs and any vacancies. She said in a year or two the market may change and then i would be able to find a good deal on a 4-plex. She also said that I will still have to pay part of my mortgage myself because even with 3 renters, it probably wouldn't cover the whole thing. My question to you is - is she right?

I was hired by Allied Residential in October of last year to help with a contract they have with Tacoma Housing Authority. We interviewed over 450 residents living in Tacoma Housing Authority buildings and helped them fill out paperwork outlining their income and assets in order for the properties to qualify for a tax credit program. When we finished that I was reassigned to Assistant Manager of an apartment complex in Federal Way. Much of my job deals with paperwork and Yardi (the software we use) but I am also the person to answer phones and talk to residents as they come in. I interview potential residents, help them fill out the screening application and if accepted, help them to sign the lease agreement. I also assist with creation of work orders, alerting maintenance and handling follow up to make sure the work orders are completed. I collect rent, issue receipts, post notices, process invoices, monitor security reports and run the office alone a couple days a week. I also help with the advertising, organizing of community events and handle resident issues. There is a lot more to it but that's it in a nutshell. Does that answer your question? 

As far as what I am looking for, first I am looking for education. I got a lot if it from the books and podcasts. I plan to find deals and run numbers so I can get better at recognizing ideal situations. I would be open to partnership with the right person. In order for me to make a deal alone I would probably have to save more money and raise my credit score. But then again, I'm a first time home buyer so maybe not. Its very early for me to say exactly but I would love to find a great deal on a 4-plex and start there. Eventually I would love to own a larger apartment complex because that is what I'm most familiar with. 

Hi Stephanie! I'm new here and I'm in Tacoma also. I love the BP podcasts!

After reading"Money: Master the Game," "Rich Dad, Poor Dad," and then following that up with "The Book on Investing in Real Estate with No Money Down" I found Bigger Pockets Podcasts and then this website. A belief barrier about what is possible for me has been crushed and I am excited to start this new path. My background is in graphic design, web design, social media, journalism, festival management and (more recently) property management. I am interested creating a path toward owning multifamily properties. What I bring to the table is a very large local network, a stellar reputation and 20 years of experience with publicity both online and in print.