All Forum Posts by: Brent B.

@Jacob Allweil great job and congrats. I’m also considering a house hack as my first investment but Charlotte is a tough market right now...

Hi Adam, welcome to the area. I grew up there and am also interested in investing there. 

Interested in investing in duplexes, triplexes, and fourplexes in Ohio, specifically, Cincinnati, Dayton, or Columbus. I’m primarily concerned with cash flow but I do not ignore appreciation. Thoughts on these markets? Thanks.

Depends what your goal is. If you want to be a RE agent, obviously you'll need the license. If you want to be an investor, you don't need the license, however, there could be a slight advantage to having it; 1) you get immediate access to the MLS, 2) you can learn the industry, and 3) you can network. The arguments for not needing the license are you can access the MLS by having a good broker, you can learn the industry by reading and analyzing deals on your own, and you can network without an RE license.

@Jeff Brower Wow, congrats! A nice cash flowing house hack for your first deal.

I'd like to do something similar for my first investment.

@Dennis Griffith Congrats! I'm also interested to hear more about the location if you don't mind sharing

Hey everyone,

Been lurking around BP for a few months and finally decided to start getting more involved. I've lived in Charlotte, NC for a few years, working as an accountant for one of the banks here. I'm interested in learning the ropes of the REI world. Right now I'm just trying to learn as much as possible and network. Would like to get my start in Wholesaling within the next 6 months or so. Eventually want to own my own RE through house hacking, flipping, and/or rental property investing. My overall goal is to reach Financial Independence.

Nice to meet you all!

Brent

Thanks for the advice y'all. Will focus on attacking this debt and changing habits around money.

Just started getting interested in real estate investing and was curious about your guys' thoughts on next steps for me.

Here is my situation: Two of my friends are interested in partnering with me on a house hack in about 6 months. My worry about getting in now is that I have $21k in student loans, $14k in a car loan, $6k in a personal loan, and $6k in credit card debt (I was dumb with money in my earlier 20s) for a total of $47k in 'bad debt.' I'm currently 29 and make $100k annually from my job. I have minimal savings but could save some $ over the next 6 months for the down payment. Or borrow from my 401k as a last resort.

I guess my question is, do you think I have too much debt to get in the market at this point or is it better to just get in now? I have gotten better with managing my money, am no longer growing my bad debt load, and have already paid a significant amount of it off.

Thanks!