All Forum Posts by: Cody Barna

@Account Closed that's become very common these days, every other person online is selling a course on how to get rich overnight yet they've never done it themselves. Unless you're referring to established companies, in that case you can find plenty of examples of your point. 

@Jonathan Perez if you find a deal that makes sense and you're able to secure financing I would take advantage of it. Considering you're in a good place financially, it sounds like you have experience rehabbing properties. You could potentially rent the entire duplex and use the HELOC to fund a 2-4 unit house hack.

@Zachary Stephens no worries!

@Kolton Lynch I hear you man, maybe once you find the right property she'll see the potential value and financial benefits long term. It helps mentally to reverse engineer your long term goals, that way you're able to break them down into more achievable daily actions.

@Kolton Lynch sounds like Whitney was spot on, house hacking is definitely the best way to reduce living expenses. Based on your situation the biggest factor will be consistency, it might help to set a goal each year outlining the number of properties you want to purchase. Considering you have a very respectable income leads me to believe it's just a matter of time, BP is filled with others who have done the same. Having a family to support definitely adds more pressure and financial strain but once you reach that goal it'll all be worth it. Good luck!

@Zachary Stephens welcome, nice to see other east coast guys on BP. I would definitely encourage you to house hack, it's a great way to reduce living expenses and ultimately accelerate your path to financial freedom. Don't hesitate to reach out if you ever want to chat!

@Race Jones get in touch with a realtor, preferably one that's knowledgeable about the investing side of real estate. They can set you up with an MLS search based on your criteria and get you in contact with their preferred lender. Whether you decide to work with that specific lender or not, I recommend shopping around to get an idea of your options. The next two things would be your employment and credit history, you'll need to show proof of income which could be a job offer for a position related to your degree. Otherwise most lenders want to see 30-60 days of paystubs as a W2 employee or 2 years of tax returns if you're self employed (1099). Lastly they'll look at your credit history, the length, score, DTI ratio, etc. ideally you've had a credit card, small auto loan, anything that shows you're a worthy borrower. Let me know if you have any additional questions, good luck!

@Sam Loranger no worries!

@Sam Loranger for books I suggest, The Millionaire Real Estate Investor by Gary Keller and Never Split the Difference by Chris Voss. They're extremely informative, you'll learn skills that will carry over to other aspects of your life and business. Besides that I recommend watching Meet Kevin and Phil Pustejovsky, both have very educational Youtube channels. Good luck with your RE journey!

@Arnold B. Guerrero if you feel that 10% is unreasonable, I would suggest speaking with multiple agents. Commission is 100% negotiable, however most agents will be less likely to list the home at a typical 5-7% based on the price point. It really depends on the agent, personally I would do it for much less considering my main goal is to help people and build longterm relationships. Best of luck!