All Forum Posts by: Damon Cameron Jr

@Jacob Gray

I am doing the same strategy. How long did it take you to rent out the 3 rooms in Phoenix and what platforms did you find roommates?

Hello, my name is Damon. I am 22 years old. I am closing on a $225k rental property that has 4 bedrooms and 2 bathrooms. I plan on house hacking this brand-new property and plan on renting out per bedroom to local college students, young professionals in the city. I am charging less than a studio apartment and including utilities, housecleaner, parking, in unit laundry, security system and toiletry items every month (Clorox wipes, dish soap, toilet paper, paper towels). Any advice on finding tenants to apply? I have advertised on Facebook marketplace, Facebook groups (universities), roomies and craigslist! Should I lower my price after 2 weeks to get more applications?

@Kaitlyn Castillo

When I was a Freshman in college I met a Realtor/ investor who lived in a duplex and was house hacking. I love to travel and experience the best life has to offer so I instantly went to her house and asked to be mentored. She taught me about the MLS and I took off from there. It will take 6-12 months of constant reading and learning before you find a niche and strategy that fits your goals and lifestyle you desire. Be patient and invest in personal development as well like Eric thomas, Jim rohn, Les Brown to stay motivated.

@Brian Plajer

It completely depends on you! There is no right or wrong answer. If your properties are all worth $150,000 each then maybe one LLC for every 5 properties. You have to remember that each LLC needs a tax return so your CPA will charge you for each LLC tax return. If your properties are worth $500,000 each then maybe one LLC per property makes sense but there is no right answer.

@Brian Plajer

Absolutely HELOC are great forms of down payments. The equity in your home is actually losing its purchase power at the rate of inflation (-3%) so pulling the equity out and buying a income producing asset that has a solid overall return on investment is intelligent!

Hello BP Community,

How do you guys stay up to date with your local government and national government specifically the news that may affect you as an Investor? Examples are things like interest rates, highways, new construction, employment, fortune 500/1000 companies etc. Do you guys have specific apps or sources that give you guys alerts about any of the topics above? Thank you!

@Matt Hiltner

@Logan Sanford

Thank you both! 

Hello,

I am looking for any investors in the Indiana/ Indianapolis area who can refer me to an experienced small local bank or credit union who I can speak to about financing qualifications and requirements! (Preferably lenders with experience of closing deals and a good track record working with investors). Any and all recommendations are great!

@Peter Buccowich 

Hey Man! I  am 19 years old and going to do the exact same thing when I graduate at 22. Here are a few videos that answer your questions and helped me understand house hacking a single family home. It is a great way to save a massive percentage of your w2 income for future investments and live for free!

https://www.youtube.com/watch?v=Jq4CRkOIXTE&t=329s

https://www.youtube.com/watch?v=6sElkS_VjrI&t=695s

https://www.youtube.com/watch?v=7b3znDA1nLQ

@Monah Yancy

Thank You!