All Forum Posts by: Brenden Mitchum

@Aaron Mulholland that ranch in Lexington sounds like a pretty awesome project! I really enjoy Lexington (I have family around there) and have considered investing there. How are the numbers there? Do you know what kind of return you'll be getting on that ranch project?

I currently have a whopping zero properties! haha but I'd like to get into some buy&hold multifamily here in the Atlanta area and am working hard to find my first!

You're very welcome @Julia Rao! The idea is to make your money work FOR you. A primary residence is NOT an investment. Sure, if you buy at the "right" time (speculation) you may make some money when you sell the home, but chances are your return will be close to zero if not negative. So yes, as long as you don't dive into investing without doing your homework, you're much better off house-hacking (or renting while investing). 

Hi @Julia Rao! First off, welcome to the BP community! I am also fairly new to investing and in a similar boat, having recently realized that I need a career change quick! 

To answer your question, I would highly recommend house-hacking. You can do so without having roommates by buying a multifamily property. If you are uncertain of your future income, this can relieve the huge pressure of a mortgage, while also building equity in your new home. Now if you feel you must live in a single family, you could run an airbnb but this is a very active investment, requiring much of your time. So another option would be to live in it for a year then move out and rent the unit. You now have an investment and you can do this again with another single family. 

Most seasoned investors here will probably advise against this and tell you to start investing as soon as possible. My advice is to do what feels right for you. Financially speak, investing *in good deals* ASAP is the smartest move, but first make sure you are ready for this. Just don't keep waiting and pushing it off or you'll never get started. Read some books, listen to some podcasts, and take action!

Honestly, even continuing to rent and use your capital to invest would be a way better call than buying a home and waiting three years to invest.

Hey @Andre Bias! The exact layout of every counties' tax assessor site is quite different than the next. I have used Gwinnett and Fulton Counties' sites to easily find home owners and their address. What county, specifically, are you searching in? 

I do not know any other skiptrace sites, but I'm sure a quick search online or in the forums would give you plenty of options.

Hey @Aaron Mulholland! First off, welcome to the community! 

As I'm sure you know networking is so vital in real estate investing. It's really all about growing your team of people to help you make deals happen. Some suggestions to this effect are to join your local reia or other rei groups. I've found a lot of mine through meetup.com but you can also find some through biggerpockerts.com/events. And most importantly (in my opinion), USE BIGGERPOCKETS. Luckily for us, there is already a place where thousands of real estate investors meet every day to discuss real estate, and you don't have to drive an hour to be a part of these discussions. 

That's awesome you already have a couple pieces of property since getting your first is repeatedly quoted as the hardest part. Where are your two rentals and what kind of properties are they?

Hey @Shiloh Lundahl! As a new investor with no deals under my belt yet I will not be able to add a creative method I have used, but just wanted to say thank you for starting this thread. I have saved and followed it and will definitely be using it in the future to get creative with my financing.

Nice @Cam Vankerkhove! Congrats on the successful house-hack and beautiful home! 

Hey @David Huston! Just as @Aaron K. said, you have some options. The tricky part here is that you're buying from a friend so you have to decide is this an investment or are you helping out a friend (it can definitely be both)? But if it is an investment, treat it as such. Run the numbers and see if it makes sense. You have a lot of options here but you definitely don't want to get caught helping out a friend and getting a terrible deal out of it if your goal is to add this to your investment portfolio.

Also, I see you live in Mesa. Very jealous!

Hi @Lauren Salvani! Welcome to the community! Well lucky for you, you have tons of options to get started in real estate. 

As @Troy Gandee stated, househacking would be a great start, as it is for many investors. Or if you were not looking to move out of your current home, you could use a home line of credit or a home equity loan. Or if you were not comfortable taking out debt on your primary to get started, there are a million and a half (probably not literally) other options for you. Now you just gotta get out there and find those deals!;)

You also seem to be a driven, confident and giving person which is vital for any successful real estate investor!

Good luck on your journey and feel free to pm me any questions you may have!

Hey @Dallas Campochiaro! Welcome to the community! I am a new investor in Atlanta, GA but I too move around a ton. What area of SC are currently in?