All Forum Posts by: Blake McFarlane

@Victor So Thanks Victor for all the answers :) really appreciate it

Hey everyone! I am planning on buying my first multi family within the upcoming months using an FHA loan. I will be house hacking Ofcourse.

I have a few questions. Most of them are for reassurance but I hope I am not mistaken.

1. Should I find a lender and make sure I know how much I am getting approved for before beginning my home search? Or should I find a realtor first?

2. This one kind of ties in with the first one. I remember seeing somewhere that mortgage lenders will add the estimated rental income to your annual income which will help get you approved for more? Is this true and if it is, how does a lender know how much I will be receiving in rental income if I haven’t found my desired investment yet?

3. I plan on getting into real estate full time and getting my license. Would it save me money to get my license before buying my own home? If so, what kind of costs could I expect to save.

A big thank you in advance to anyone who answers any of my questions! :)

Hello everyone

I am a 20 year old aspiring real estate developer. I currently have a good paying job and have quite a bit in savings that I have been sitting on waiting for a good investment opportunity whether that is house hacking, fix or flip. Etc.

I was hoping to leave my job something this year to go into real estate full time and get my license to start selling. I was wondering if any of you might have any suggestions. I want to know what would be the best way to get my foot in the door? Should I work for a local developer? Get my commercial real estate license? Buy a fix and flip. I’m open to anything and curious as to what some of you might say. Thank you everyone and I hope all of you are staying safe and well through covid-19!

@Michael Wegner Appreciate it Michael! And I would love to connect man. If your on any social media I can reach out via that. Still getting used to bigger pockets and I’m unsure if your able to message people through here lol

@Lumi Ispas Thank you Lumi! Appreciate the luck and I wish you success! :)

@Crystal Smith Thanks Crystal! Definitely was not harsh. Your so right. Appreciate all the info you just shared aswell :)

@Mark F. Appreciate the words and advice Mark!

@Aaron K. Your a legend. Appreciate the help. It’s not easy being so young and I only have a year of credit history lol. I’m well into the 700s and have zero debt or current loans out. I plan on quitting my job when I buy the house and getting into real estate and investing full time! Thanks again Aaron.

@Aaron K. Thank you! I'm just worried that I'm the coming months even if home values were to drop. It would be hard for me to acquire a loan. An FHA loan to be exact to house hack.

@Emanuel Ochoa Hey Emanuel. I’m 20 and last year I was in your shoes. I had to learn the hard way that this can be a very dog eat dog industry and often times people won’t be willing to help you. Unless you provide them with money or something else of some sort. Last year I got a job and went from $0 in capital to currently sitting with a $20k nest egg. Best advice from me would be to start setting yourself up for success and don’t wait for anyone to give you the “golden ticket” or present you with an offer to good to refuse. Best of luck Emanuel!