All Forum Posts by: Benjamin Lenz

Hey there, BP! I'm house hacking my SFH in Walnut Creek, CA. I live in the attached ADU above the garage, which has a private entrance. The main house where my tenants live also has a private entrance. Currently splitting utilities with them has been fairly simple but I'm considering converting my garage into an additional ADU, effectively "triplexing" my home. This will clearly make utilities more complicated to split with that third unit, and even more so when I eventually move out and I'm renting three private units in one SFH that isn't submetered. If you have any advice or suggestions on the best way to tackle this I would be most grateful! Thanks,

Ben

Hey BP community! So I'm house hacking my SFH in Walnut Creek, CA. I live in the attached ADU above the garage, which has a private entrance to the right of the garage. To the left of the garage is the front door entrance to the main house where my tenants live. Furthermore, I'm considering converting the garage into an additional ADU, effectively "triplexing" my home. My question is, do you have any suggestions on the best way to have mail sorted? All of my current mail goes to the main house entrance door along with any packages, regardless of what instructions I leave for online vendors. Has anyone been in this situation or has experience with a similar scenario who could weigh in? I appreciate it!!

Ben 

Hey BP family! 

I just moved back home to the Bay Area from NYC. Hoping to meet @David Greene one day if I'm lucky. Anyways, after many years of saving, I have enough for a downpayment to buy a property in the East Bay i.e. Pleasant Hill, Concord, MAYBE Walnut Creek. I'm curious to hear thoughts about my options on how to start to this REI journey. I've basically broken my choices down to a) Renting a room and putting my "downpayment savings" into rental properties in a cheaper market where it makes sense OR b) Buy a house here and house hack it. Aside from a hefty downpayment, the monthly out of pocket would probably be similar if I'm renting out the other bedroom(s) via house hacking. If you have an opinion or insight I would love to hear your perspective on this.

Happy Holidays everyone! 

Ben

@Basit Siddiqi thank you very much for the advice that makes a lot of sense. Do you have any suggestions for any specific meet ups that you like?

Hi everyone,

I live in Brooklyn, NY and like most people who live here, I've come to find that investing in RE is simply not affordable in this area. I was listening to David Greene's podcast and I'm currently reading his book, "Long-Distance Real Estate Investing." I find his perspective to be very practical and it has encouraged me to look to invest in my first rental property out-of-state, but I need to find the right people to make my first RE venture a success. If you are an investor or an investor-friendly agent in one of the more affordable markets, I would love to have a conversation with you. My hope is to find individuals who I can form long-lasting relationships with, which are mutually beneficial. 

Thank you!

Benjamin Lenz

Thank you guys for your valuable input. I really like your article Ali. Breathes some insight for me!

Hello BiggerPockets friends, 

I am very excited and thankful to become a part of this community. After discovering my fascination with real estate several months ago, I have been researching and listening to BP podcasts nonstop. My name is Ben and I'm a Registered Nurse in NYC (originally from the Bay Area in California). I am at a crossroads in choosing the strategy I should use to begin my REI journey, and could use some guidance.

I am planning on moving home to the Bay Area within the next 2-3 years to be closer to family. My original plan was to save up 100K (pretty much the bare minimum you need to buy property with 20% down in my city)  for a 2 or 3 bedroom and "house hack" it. That way I could live in and own my primary residence when I move home, and have help covering my mortgage. I already have some money saved, but it would realistically take approx. 3-4 more years to save the 100K I need at the rate I'm saving. While my original plan seemed like a solid one initially, I am starting to question myself. Would I be better served to invest the money I currently have saved in a more affordable market so that I can get the ball rolling? In the 3-4 years it may take me to save 100K, I could potentially have 2, 3, or even more rentals in my portfolio in cheaper areas. I am wrestling with the choice of saving up for my primary residence, which will take time, versus starting to invest now. My end goal is to buy and hold for passive income and long-term wealth. I have a full-time job and am not looking to get involved with wholesaling or flipping unless the opportunity presents itself. I would really appreciate any insight or advice that may be helpful. Sorry for such a long-winded introduction!!!!

Cheers,

Ben