All Forum Posts by: Brodyn Beauchat

@Michael Guzik. That makes complete sense. I never really looked at it in the way of competition. Ive just noticed a trend in milenials preferring to rent given the opportunities of traveling work. I don't see that changing honestly based on the way job markets are changing with technology. However you raise a good argument for those who shop smart. 

@Victor Cooke my (basically) brother in law is a self employed sub contractor, and I've done things here and there with him. I had the opportunity to work with him, but he couldn't guarantee me consistent work, and at the time I wasn't in a potsition to take that risk. Now I have a good job opportunity coming in spring, so I don't see myself going to work with him. However, he's highly knowledgeable so that is a plus as far as when I run into issues. I would love to learn the trade, however I plan to scale after the first few properties, and I really just don't want to be all that hands on with it all. The more passive the better because my new job will be one that I enjoy, and I don't intent on retiring for a while given that I am only 21. Do you have any advice on how to negotiate with contractors, and how to tell which ones to trust?

@Eunice L. I work fulltime, but all of my spare time is spent either at the gym, in a book, or my most recent addiction is on bigger pockets. So the hussle is real. This entire past year I've spent educating myself. This year is all about making moves. I start a new job in spring that is a great opportunity and will give me flexible hours to spend on investing. However I'm stuck in this town for a while, so moving isn't an option. However I feel comfortable about investing in minor distances (At least within 2 hours) mainly because I'm well traveled all around my area. 

I liked how you put it. Viewing my next moves as a tuition fee. It take a lot of the pressure off to put it that way haha

Thank so much @Alex Deacon! That is my plan right now. I figured if I can get a few deal under my belt and learn the ropes, then I'll be more comfortable investing further away with bigger deals. I'd love to chat sometime about how you made it to doing 4 to 5 deals a month in Pittsburgh! I'm a systems oriented kind of person, and Itake It you are as well given you're able to make those kinds of moves each month.

Thank you @John Frank. I have been an avid listener to the podcast for over a year, and finally have a lot of my bad debt paid off. I already feel like I have the upper hand by knowing all of this stuff at age 21. House hacking is my number 1 goal, and I cannot wait to get started. I appreciate the input!

@Michael Guzik I do agree with you however I need to start smaller atm. I cannot sit on the sidelines anymore. I'm not going to take the first deal I see obviously unless it a good deal, but I need to start setting myself up to expand, and like John said if I can cut my housing expenses down then it opens up a lot of opportunities. What I am interested in is why you say 90k minimum? Again, I'm new, and that really sparked my interest. Do you care to elaborate on why that is a good number?? Thank you for the feedback too!

@Brian Adzadi

Thank you for your insight. I'm not well experienced in rehab work. I've helped people from time to time do bits and pieces, but I feel it would be much smarter for me to hire in that situation. And I think you're right. Going with something that has good bones will be the better way to start. 

As for the second question, your response is what I expected. I feel the same way honestly, but I just hate missing the opportunities that are starring me in the face. Haha

Thank you for taking the time to reply Brian! Everything I learn is helpful, and this helped me narrow down my search. Its appreciated.

Hi BP community! I'm looking for feedback on a pressing thought I cannot get over. I live in a depressed area mostly consisting of low income families. My biggest and most determined goal for 2018 is to house hack. My town isn't necessarily heavy in crime, but it is a very small community of about 5000 people. The average home is sold around 40k and multi families don't exceed that much. Rents however can vary a lot. I've seen as low as 300 a month and up to 800 a month. After filling in the back story here, my question is this:

Would it be benefital to find a cheaper deal and rehab to get at the higher rents, or find an average deal and do minor repairs to get an average rent around 500 a month? This will be my first deal and I don't care so much to cash flow heavy. I just want to house hack and save my money from my job at the moment so that I can get better ahead for future investments.

Bonus question!

I'm familiar Pittsburgh PA area and in particular the suburbs where I used to live. Its a great area that is growing rapidly. Rents are far higher and the ability to cashlow off of those properties is insanely higher then my home town. However it is much more expensive to buy. Would it be in my best interest to continue investing in my hometown for a bit until I get the experience, or jump to the suburbs (about 1 hour and 30 minutes away from me) after my house hack? 

Thankful for any feedback.