All Forum Posts by: Cody Evans

Hi BP,

It was recommended to me in my post on prospective househacking that I perhaps start with a condo for my first buy. Are there pitfalls to renting out condos and does anybody even rent condos? I am also unsure about the best ways of forcing appreciation for an asset such as a condo. Any tips or suggestions will help a lot. I'm not hellbent on condos at all but I am in Northern California and everything here is so expensive. I have 20k for a down payment and I don't know what I can get with it or the best loan structure for me. I am a teacher and I do not know if that nets any loan benefits as well.

thank you,

Cody Evans

@Frank Hinck I am going to be using it as a residence and then renting it out is the plan. I may eventually move but don't plan on it: How does this affect my down payment? Is there a recommended loan structure to go after such as FHA?

Hi BP community! 

This is my first post in awhile. I am looking to buy my first property and househack it! Houses in my market are are at least 400k because I am in Northern California. Ideally, I would like to have a multifamily home because it makes more money but I am not sure if it is a better idea to get a SFH. What are common pitfalls to look for when house hacking? How much money do I need for down payments on a SFH versus a multifamily? The down payment is going to be my biggest problem along with tenants. Please share any useful information or tips you have,

thank you,

Cody

@Jay Hinrichs I'm not too keen on wholesaling anymore. I just didn't have that much money so I was starting with that. In the meantime I started a few businesses to get my beak wet. I am back on here because I am looking for a solid real estate agent to buy a home with and I wonder if there are tell tale signs to look for in an agent or if it doesn't really matter who it is so long as they show you the houses.

This would be for my real estate agent career. I will have my license by summer

Hi everyone,

I am trying to figure out the best way to edge into online marketing. I have an understanding of how to go about with aome of these campaigns which generally include combining social media and a website but which should I do first? I am extremely busy with regular work and school right now so I will only be able to start on one very slowly.

Do you suggest making a social media page or a website page first?

Also add the Meet Up App or Meetup.com to that list.

Our market makes it more difficult to learn because of the high value of real estate. It is because of this you shouldnt use the 70% rule. You can wholesale deals for higher than 70% because of the profit. You may want to ask around for what type of profit buyers want. Some may want 50k for the trouble, others more or less.

I get about 6-7 weeknights and 7-8 on weekends. I am going to get 7 on weeknights starting next week because that extra hour makes a real difference for me. 

Listen to Alex. I have tried wholesaling and many other hobbies( I take these seriously, hardly hobbies) in my life and nothing is ever, EVER, as simple as it seems. I have thought through the same dilemma multiple times. If i had a million dollars would I start small to gain experience or go straight for the juggular and buy big commercial. I have chosen that if this ever happens I will start small. One house, then another, then a few more and then go for some smaller commercial. It would only take a few years more anyway and reduces the risk of making huge life altering mistakes significantly.