All Forum Posts by: Brandon Hanks

How's it going? I'm currently in the process of purchasing a Quadplex, with an excepted offer. I just finished LISTENING to "The Book on Rental Property Investing" it offers a lot of knowledge as you move forward on your Real Estate venture.. Another one I would consider is "The Book on Managing Rental Properties." I'm at the point now that PM is getting a good chunk of change from me every month, I haven't finished the book yet but I'm getting great insight on the duties and responsibilities the PM takes on, and whether I'm prepared to take on those duties.

I'm telling you about these books because they are helping me a ton on future decision making with Real Estate.

Also, with the house hacking, Lets just say that I would house hack only if I was using VA or FHA for financing. If you are prepared to make that down payment using conventional, I would rent both sides out and maximize that passive income. Wait a few months and find another Multifamily property and purchase the property using a FHA or VA loan which requires you to occupy the residence.

When considering a LLC I would consult a RE attorney. From what I understand recently lenders have been calling loans due on sale.

All in all, congratulations on your investment opportunity.

Will Gandy I would suggest taking a lil bit of time to read "The Book on Flipping Houses" by J Scott! It's an easy and very informative read. I just finished it, and I feel like I can be successful with my first project. Also, there is another book that comes in a package "The Book on Estimating Rehab Costs." I haven't read the second one yet, but the first one kept me engaged and helps you form your Scope of Work (SOW) and how to execute with or without a GC. Just my 2 cents

I am a local investor in Fayetteville, and this town is definitely a buy and hold type of environment. I have seen tons of houses just sit on the market and waste away (buyers advantage). Most people are buying up the new construction (senior military). There is a ton of military rotating in and out, that only want to rent and not buy. Nothing against Fayetteville but most people don't want to be there any longer then they have to (huge renters market).

Funding the multi family deal (4 unit) with a FHA is a very feasible outlet, but keep in mind that you may have to sacrifice occupying one of the apartments as a primary residence for a short period of time. @David Thompson would that be an accurate statement?

I have purchased my most recent investment property with a FHA, and I learned that the hard way.

Fayetteville, NC has been great for me! Co-located with Fort Bragg, no problems renting!