All Forum Posts by: Brad Jacobson

@Joel Miller it's very normal to ask for a seller concession when the financing is being denied due to the home's condition. I assume you're qualified through a FHA or VA loan so just let the seller know your situation, the requirements of the loan and that the furnace needs to be repaired. If they're unwilling to budge ask if they'll split the cost or something

@Gregory Pitts don’t look for a specific single mentor but get so involved in all your local REIAs that you inevitably start to know everyone. Plenty of opportunities will appear for you to assist or hang out with the right people and you’ll get all the mentorship you can handle that way!

NUREIA (Northern Utah Real Estate Investors Association) is finally getting our meetups rolling in person again! Feb. 16 will be in Logan and Mar. 2 in Ogden.

What speakers or topics would you like to see more of this year? Utah's market has some significant challenges with inventory and price to rent ratios and we'd like ideas of where to take the REIA!

@Jonathan Osborn REIAs are still going, mostly virtual. Social media, BP, and everything virtual hasn’t changed! Go get your license!!

@Khaled El Dorry you’re not looking for a mentor, you’re looking for a new circle of influence! Get involved with your local REIAs and get volunteering! If you dedicate enough time to the REIAs you’ll have more available mentorship than your time will allow.

@Cameron McNulty we’ve done a little bit of both! Personally I think it’s better to invest local but here in UT you definitely sacrifice cashflow by doing so but having tight control and better opportunities to force appreciation it’s almost always better to go local

@Trent Anderson read Craig Curlop’s new House Hacking book if you haven’t already! He essentially makes the point that nearly all house hacks are good investments because they’re far superior to any other housing situation and provide a lot of options down the road as long as they cashflow without the owner-occupant

@Joshua Little beast mode!!! Can’t wait to hear where you’re at in a year or two!!

@Monica Breckenridge are you using the cashflow of the properties to pay down the mortgages? How have you so successfully broken out of the debt on the rentals??

My wife and I have two main goals that are appropriate for newer investors like ourselves! One day we hope to be in a spot like all the other amazing investors in this thread.

1. Cut living expenses to <$2,400/month (we just went under contract for a house hack we think will get us there! Currently we’re at $2,900/month)

2. Acquire three additional rentals this year (by buying a different house hack we actually get two, one with the new property and the home we live in now will also become a rental. Just one more to go and it’s only Feb.!)

Hope these help define additional goals! Looking forward to hearing more on this :)