All Forum Posts by: Christian Sabatini

@Christian Sabatini this is exciting. I think a college kid house hacking is one of the best competitive advantages to get started. You know the areas students want to live, you know a bunch of prospective tenants, and you know what they and you have been paying for rent in that area. If/when you move you can always keep renting to college kids or just sell it. I think you are right that creating a deal is better than finding one. I would walk or drive for dollars in areas you want to live and look for a duplex or a smaller house that needs some cosmetic work (bad landscaping, older siding, long grass, etc) and contact the owners. There are some loan programs out there that let you get a loan and a construction line to fix things up. If not, see if you can find something that just needs paint/flooring/light fixtures as those can be very cheap to update. Work out a deal with them based on the mortage terms you have and what you can get for rent. Start today, you can always say no if it isnt the right deal for you but most do not start. 

 Hey Christian! It's awesome that you are taking initiative to early. I am an advocate for house hacking - especially as a college student before a family. Running numbers isn't the hard part, however I would encourage you to understand the numbers you're running. Remember with no risk there is no reward! Best of luck.

1) Running numbers is not that hard. It is sufficient (at least for starters) to go on the various platforms and run comps based on

2) The best way I've found to 'add value' is to find the properties that no one else wants - distressed, filthy, cracked slabs/foundation, structural issues, etc...../ But these are also the hardest to run to completion 'on budget and on time'.

Good Luck!

 Hi Christian, 

I always recommend going over the local market and getting used to doing numbers. I like using this calculator https://www.calculator.net/ren... I always tell my clients to just keep analyzing deals and doing numbers. The more you do this the more familiar you will be. Find a good realtor! It is their job to help you. Find a mentor who can help guide you. One of my mentors was kind enough to go over all of my plans with me and walk my property periodically throughout the renovation process to make sure what I was doing was good. 

Hey @Christian Sabatini

Congrats on your ambition!

Bigger Pockets recently published a book that's perfect for you! It's called First to a Million. You should check it out! If you have questions about the book, let me know. I am the author. :-)

In addition, DM me if you are interested in an online community of young, like-minded individuals.

Best of luck to you!

Dan

Welcome to BP and congratulations on your first post!

I don't see a specific question, so I don't have a specific answer. Running the numbers is not that difficult, but you have to practice it. Reading a book or listening to podcasts isn't enough. Visit the BP YouTube page and they have a channel dedicated to property evaluation. It walks you through the process step-by-step. Do at least 10-12 of those exercises. Pause the video and try to think what the next step will be before they say it. When you get that down, then you can evaluate on your own. And once you know how to evaluate, you should know what a property needs to produce to be a good investment for you.

Have you joined a local investor meetup to network with others? Spend time rubbing elbows with like-minded investors and they can help you find a deal. They may look at a 5bed/3bath house and it won't cashflow for them, but it will cashflow for you since you're renting out each bedroom. Build a network and you'll have more than just your eyes looking for deals.