All Forum Posts by: Antonio Cucciniello

Hey @Heather Wear! So, the way I see it is if you are not going to make cash flow on the house hack once you move out then you should not do it.  That would be buying a liability not an asset.

Is it possible for you to move a little farther out and get a property that is a little cheaper? 

What if you bought a run down property, lived in it with a 203K loan, fixed it up and then moved out, took your profits and used that to put more down and do a second house hack?

 I think getting into this with a friend is actually a really good idea. Its a way you can get started quicker and reduce your risk. Just makes sure that you are doing the best you can to master the information, making sure the deal is great. 

It can turn out poorly, but if you do alot of due diligence, you can minimize the chances of you making a mistake

1. Create an LLC with an operating agreement in Texas. The operating agreement states what both parties will do and what the split will be. The profit split will be based on what ever you and the other people agree on.

2. You don't have an LLC with them, they do something on their own and they pay you instead

3. Picking one market and sticking to it in my opinion is the best way to go forward. I just moved to Austin. Cash flow is hard here. San Antonio seems to be tough as well

1 - Do you need a multifamily? You might be able to start with a single family home

2 - You can try living in the new property to come in at a lower down payment

3 - That risk can be mitigated by investing in a good location with a property that people will actually want to rent

@Ravi Ramphal Tons of opportunity. You have to keep in mind, for everyone that you "hear" is jumping into it, 80% of those people (this is made up number but its my opinion) won't do it, the 20% that will read the books, will never start. 20% of that will actually buy a home.  Then another 20% in that 20% would be the type of person who does this stuff full time.

Most people will learn or dabble and then realize its not for them. Look at people's actions not what they say

@Yvonne Ng I think its important that before you move forward you pick a location an stick to it. Each of those markets have different rents, different areas that are better. 

If you focus on one you have a higher chance of succeeding in one of those markets.

Now, how you choose one is:

1.) Based on what you know

2.) What data you have about it (Crime, schools, etc)

Compare the two and pick one!

@Aaron Gieg that's honestly why I don't listen to podcasts. There is tons of fluff.  If you want something a little more succint a book or a YouTube video thats cheaper/free.  Then buy a course could be a couple of hundred bucks but usually has more succinct information!

I don't use them currently but I know investors who have:

Pros: 

1. Very passive (they usually hand you a fixed up asset)

2. They will likely manage it for you

3. You will probably get a good enough return

Cons:

1. You will pay high property management fees

2. You won't get discounted properties

3. Reduces your chances at profiting

@Edin Ahmetovic What kind of investing do you want to get into? If you are looking for the best high level one I would say "Millionaire Real Estate Investor by Gary Keller"

@Jonathan Giglio the truth is...it is a tough time to enter the game. Things are getting bought quickly and for over asking making it hard to cash flow also you have covid and tenants not being evicted. 

See how you react matters.

You can look at the problems and have them discourage you  and say I will wait

Or you can master the information, work to find deals off market, work to network, practice analyzing deals, go visit another less competitive part of the country to invest in.

How you take it matters. Don't let it discourage you instead let it motivate you to the next level of you