All Forum Posts by: Asif Islam

@John Ford Thank you for your response on my very first post on the BiggerPockets Forum. I appreciate all the time and thoughtfulness you put into your response. 

I think selling the house at this moment would be great, I am worried about interest rates raising and demand dropping leading to a price decrease. To your point of purchasing a new house right away, I was think I could maybe find a STR, but even that sounds like a waste of money since everything is speculation.

My mother is also thinking about renting out her primary residence, where we have seen a $1750 profit in the past after PITI. She wants to hold the property, however, I am thinking the best time to sell would be now. Regardless, we need to purchase a new property for her to stay in while she is renting it out. Lastly, our basement is not finished in our current primary residence and we are maybe thinking of finishing the basement, which would add an additional 3000sq to the residence

My questions are:

Is now the best time to sell?

Should we rent instead? 

Should we finish the basement? 

Hi All,

I am somewhat knowledgeable with real estate as I listen to the bigger pockets podcast, I have read The book on rental property investing by Brandon Turner, and I have watched countless number of videos on real estate investing.

My parents are selling their primary residence and are looking to net $300k-$400k after fees and everything.

What do you all think is the best approach to set up the foundation for a real estate business for my parents and I? I am willing to be a hands on investor and be involved in anything I need to be apart of.

We currently live in the metro Atlanta area. 

I am looking to purchase a primary residence for my parents with their money, and put about 3-5% down (or should I put 20%?) and use the rest of the funds to purchase a primary residence for myself again 3-5% and I would be renting out rooms while living there. Lastly, whatever funds are left I am looking to put money down on either investment properties (25%) down or BRRRR properties.

My parents would live at their primary residence half the year and other half the year back in our home country, so I am thinking I can Airbnb their primary residence. 

I have lived in downtown Atlanta myself for 8 years and am familiar with the area. I am interested in investing in Pittsburg, Sylvia Hill, and West end areas, however I am open to anything. Single family or multi family   is what I am looking for, maybe a condo for my parents if it makes sense!

Any advice is appreciated!