All Forum Posts by: Brandon Craig

 Thank you for the input! Were you able to request Ryan Cason when you signed up? 

Just to add.. I set up 2 LLCs with Prime and I was happy with that process.  I had my tax consultation yesterday and ended up signing up before realizing some of the potential negatives.  Personally I'm a bit concerned about the outsourcing of the service because I feel like I'm rolling the dice in hopes I get a good accountant assigned to me. It may also be difficult to have other professionals communicate with them efficiently (attorney, bookkeepers, etc.) I have a 3 day period to cancel the service and take my $2,900 in another direction. Still weighing the options for now..

@Colin Jones hey Colin, welcome to BP!  I'm also interested in house hacking my first property in Delco.  I was in a similar situation with the 2 year proof of income when I started looking into RE back in 2018.  I personally went the patience route and have not yet bought my first property.  Looking back I probably should have been more persistent like you.  I have a phone meeting this Monday with a lender and should be in better position for this pre-approval.  I'd be interested to hear how your phone meeting went the other day.

@Jason Polykoff Hi Jason, welcome to BP. I'm also newer to RE investing and live in Delco. It took me a little over a year to sure up my financial situation as well. But you're definietely in the right place to learn as you begin the journey. I'm interested in multifamily buy and hold, and hope to use the BRRR strategy while house hacking my first property.

To piggyback off @Account Closed great advice.  Don't lose your interest or focus if it takes longer than you'd like to get that first deal.  It's easy to get discouraged (from personal experience) but taking the extra time to ensure you're in a good position will be worth it!

@John Kaunath

As Kenneth already pointed out, landscaping is most likely not going to have a significant impact on the appraised value.  However, there are definitely other benefits to improving the landscaping when attempting to sell a house.  I own a landscaping business and I've had a few real estate agents and investors hire us just prior to listings, in order to spruce up their properties.  This usually involves fresh mulch, flowers, etc.  Again it may not significantly boost the value of your home, but these are inexpensive ways to better market your property.  Just as you might stage the inside of the property before showings, fresh landscaping can provide a nice first impression on your potential buyers.

Good luck with the sale!

@Justin Melendez Nice job Justin.  Glad to see you were able to pivot from your original plan and still come out on top.  Thank you for sharing your experience!

@D Higgs hey Dennis.  I'm actually in a similar situation with my mother's house.  Originally I was thinking we could fix up her house just enough to make it a solid rental property.  However, we are now considering a full kitchen remodel and some other updates in order to sell the property.  She has a decent amount of equity in the house.  My reasoning for selling is that it will allow my mother to pay off an exisiting home equity loan (previously used for an addition on the house) and it would also give her enough funds to purchase a small duplex in a neighborhood closer to her work, which she would househack.

As far as your particular situation, you said you have virtually zero equity in the home. Therefore, I would wonder how much value you believe your repairs will add to the sale price. Evaluating your ARV compared to the cost of your repairs will better help you decide if it makes sense to sell and re-invest the profit or hold as a rental.

@Ikenna Okoli welcome Ikenna!  I'm also looking to acquire my first small multifamily property with the intentions of house hacking one of the units.  

If you haven't done so yet, I would recommend you start by getting linked up with an agent in your area who has experience with investors and multifamily properties.  They'll get you set up with a search on the mls that will send you a list of all the properties that match your criteria.  Next, you can start analyzing these properties by using the rental calculators here on BP to make sure you're buying a good deal.  

 I would also recommend checking out some of the BP books.  I personally have read and enjoyed Set For Life by @Scott Trench and The Book on Rental Property Investing by @Brandon Turner

Best of luck as you get started on your real estate journey!

@William Kwan welcome William!  Great advice above from @Nathan Gesner and @Daniel Haberkost.  You're at a great advantage by discovering real estate and BP at such a young age.  Most 20 year olds aren't thinking about long term wealth, so you're definitely ahead of the curve.  

I'd encourage you to finish setting up your profile and using the "keyword alert" feature to help you make connections with other BP members from your area.  

Best of luck as you begin your real estate journey!

Hey Chris.  I've been working with Prosperity Home Mortgage in Delaware County as I am looking to purchase my first property.  They have been very responsive and willing to work with me.  I shoot them some random questions from time to time and they are always quick to respond with an answer.  If you would like more info on my experiene with them, feel free to message me.