All Forum Posts by: Bradley Dosch

That's so awesome to hear Carsen! I love that you're doing CC then transferring to a bigger school - such a good strategy. Reading that pile of books is a great start! My main piece of advice is to just get started! Learn as much as you can and then started doing it asap. You'll learn so much by practicing the theory you learn about. Best of luck on your FI journey!

This is what I did for my house hack, although I did have leases. I would try to document that income as well as you can. Keep in mind I'm not a tax professional and you should definitely seek some!

That sounds like a great plan! Well first off make sure the property fits your goals and what you're looking for. A tip that has helped me is to look at properties that have been on the market for longer than usual. In this crazy market, you'll have less competition and more negotiating power with these. Alternatively, if you find a place you really like that hits the market, make sure to move quickly on these! 

I always vote for the least amount down as possible. If I could go lower than 10%, I would. The benefits of saving your capital and getting started with REI far outweigh the slight benefits of putting more down IMHO

Hey Garrett!

That's awesome you're looking to start house hacking. Doing renovations has its pros and cons. It looks sexy for sure and you can create some awesome equity. However, it can also turn into a money pit and you could lose many months of rental income. Depends on your experience and comfort level. Buying a place that needs fixing is def not required for house hacking.

As for financing, FHA will be the way to go for OO multi family. Mainly because you can use a 3.5% down payment instead of 15% for conventional. If you want to wrap in the cost of the renovations into the loan, the FHA 203k loan could be useful. You'll want to find an experienced lender for this as they can be tricky to close. Another option is to open a few 0% interest for the first 12-18 months credit cards to finance the renovations. Slightly riskier depending on your budget but it's much more streamlined and you could earn some awesome points!

Best of luck Garrett! Keep us posted

Hey Alex, I'm not in Arkansas but I'd be happy to connect as a fellow new investor. Best of luck with your endeavors - how are you planning on getting started?

I think house hacking to start then moving out and keeping it as a rental is the way to go! It's like REI with training wheels. Plus owning a property in CA that you financed with OO financing sounds pretty valuable. That's my vote!

I say that as a young person looking to invest in real estate for the long term, that getting started is the most powerful thing you can do. That long term investing horizon is key. It'll all look good 30 years from now. Trying to time the market is only delaying the compound interest that can be taking place by getting started! Good question and hope this helps, Isaac. 

Stick with the mindset you already have. Timing the market is a waste of time and a fool's game. You'll learn and achieve so much more by just doing it rather than waiting for "a crash". Best of luck Julien!

That's awesome you want to get started house hacking here in Western Wa. If I had to choose between the two, I'd go with Auburn because I think it's closer to more jobs and you'll have an easier time finding tenants. However, if the numbers make sense and you feel good about it, I'd say pull the trigger on either location!