All Forum Posts by: Daniel Gonzalez

@John Trommelen hi and welcome to BP. I am a newer investor myself and it is difficult to find a good deal here in NJ. Seeing how FHA financing is not an option for you and your partner, I would suggest looking into the BRRRR strategy. It stands for Buy Rehab Rent Refi Repeat. From what I have learned it can work especially if you go with the hard money private lender route. Might be a way for you to get in with little money (maybe just cover the rehab) and then get a hard money loan for the rest. Dont get discouraged if it takes a while to find something. I have found some deals(after alot of analyzing and searching) but missed out due to acting too slowly, so another bit of advice if you find a deal, the numebrs work, and you know your market act quickly.

Anyways hope that helps. Good luck and feel free to reach out whenever, I am always trying to help anyone I can and give back to a community that has helped me learn a ton.

Hey @Quinton Slay thanks for the vote. Keep trying to educate her and go from there day by day. 

Hey @Quintonslay, let me tell you, I can 1000% relate to your situation. my girlfriend wasn't a fan of house hacking or real estate investing and I was. Some of her reasons for not wanting to house hack were sharing her space with other people, not wanting to be a landlord, she was uneducated in the REI space and couldn't understand it, thought you needed to be a millionaire to invest, the list goes on and on. A few of the ways I enlightened her. I told her that I would spearhead the entire thing till she felt confident, comfortable, or just plain interested in it and wanted to be involved, I showed her books and podcasts to check out, I explained the pros and cons, and lastly (most importantly for her at least)I laid out how house hacking and real estate investing in general could help us live the lifestyle we wanted. For her that was the most important. She didn't want to give up on date nights and vacations, albeit you have to limit yourself from time to time but I told her with house hacking and investing in general it will not hinder us but only be a spring broad for our future. It took a while(couple of months)but now she sees the benefits of it and wants to be involved in practically everything. As long as she supports you, physically, emotionally, financially, etc that's all you need. Sometimes people need to see in order to believe. Like the saying goes, you can bring a horse to water but you can't make it drink. Hopefully in time she will come around and see the benefits of all this and appreciate all the work you are putting in. Hopefully you can show her the way. Good luck

Just found this post while doing some searches for mortgage brokers vs local banks. @Darren Sager would you be able to share that info about the mortgage broker as well, it would be really appreciated and helpful. Starting to take some actionable steps towards the first purchase and getting my financing in order is one of those steps. thanks

Hi, just found out about this meet up in Hudson county, hope this helps any investors in that area. If it has already been shared sorry for duplicating it. 

https://www.meetup.com/Bigger-Pockets-Hudson-County-Real-Estate-Investors/

@Darren Sager thank you for organizing the event. Last night was awesome. Eager to attend future meet ups. 

@Mindy Jensen thanks for the presentation, information, and motivation. Your story was insightful and inspiring. Lastly thanks for the shirt =). Hope you and your family have a wonderful vacation in NYC. 

Is this event open to non BP members?

Just listened to today's podcast and heard about the meet up.  Pretty excited to have a meet up practically next door.  Hope to make it and meet some awesome people. 

Hey Ellie Hays just a warning those three areas specifically that you mentioned aren't necessarily the safest. I'm assuming you are using it as a rental but with those areas the quality of tenets won't be the best. I've lived in Hudson county and Bergen county and can tell you that if you are looking for a townhouse or condo at that price you don't need to go too far. Parts of jersey city, Newark, union city have property around that price point. Good luck, hope this helps.

Michael Cohen thanks for explaining all that, it was really helpful. So if a lender agrees to do upfront underwriting how long is that good for? I know with a pre approval it is only good for a few months if I'm not mistaken. Alina T. I have considered those other ways to raise some capital but I have some capital currently and will see if I can purchase a property to house hack via an FHA loan. Just trying to focus on one thing so I don't get too over whelmed and possibly hit with the shiny object syndrome. Thanks for the tips.