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All Forum Posts by: Daniel Somers

Daniel Somers has started 5 posts and replied 33 times.

Post: Rural Multifamily, who is doing it?

Daniel Somers
Pro Member
Posted
  • Rental Property Investor
  • Tiffin, OH
  • Posts 37
  • Votes 20

I have 2 duplexes in my small town of around 17k people. Have had really good luck with long term tenants and always looking to add more properties. The major issue is not many multi family places for sale, or hard to get a hold of current owners. Considered expanding to bigger markets but like the small market. 

Post: How far do you live from your rentals?

Daniel Somers
Pro Member
Posted
  • Rental Property Investor
  • Tiffin, OH
  • Posts 37
  • Votes 20

All within 3 miles of my home

Post: This BRRRR thing really does work, with pictures

Daniel Somers
Pro Member
Posted
  • Rental Property Investor
  • Tiffin, OH
  • Posts 37
  • Votes 20

Looks great congrats

Post: Low Money Down Home Loans

Daniel Somers
Pro Member
Posted
  • Rental Property Investor
  • Tiffin, OH
  • Posts 37
  • Votes 20

Yes the 203k loan is the one you are probably looking for. I know with this loan, like a normal FHA loan, there are certain criteria that you must meet to get approved for this. Definitely look into it.

Post: 27yo househacked 2 props in 2 years - Worth $1M and $100k/rent

Daniel Somers
Pro Member
Posted
  • Rental Property Investor
  • Tiffin, OH
  • Posts 37
  • Votes 20

Wow great story!!

Post: Member Survey | We Need Your Help!

Daniel Somers
Pro Member
Posted
  • Rental Property Investor
  • Tiffin, OH
  • Posts 37
  • Votes 20

Completed

Post: What is your WHY ?!?!?

Daniel Somers
Pro Member
Posted
  • Rental Property Investor
  • Tiffin, OH
  • Posts 37
  • Votes 20

Money, time to travel, and for my future family

Post: Bigger Pockets Community Thank You

Daniel Somers
Pro Member
Posted
  • Rental Property Investor
  • Tiffin, OH
  • Posts 37
  • Votes 20

@Mindy Jensen Thanks Mindy!! And no I have not but it is definitively on my reading list!!  

Post: Bigger Pockets Community Thank You

Daniel Somers
Pro Member
Posted
  • Rental Property Investor
  • Tiffin, OH
  • Posts 37
  • Votes 20

Today I wanted to shout out to the people that make Bigger Pockets great.

I currently work a full-time job while pursuing my real estate dreams. I have 3 rental properties and will be moving into one to house hack starting in July. I've always been interested in real estate and personal finance growing up but was never taught too much about either in school. One day my senior year of high school, our math teacher stopped class and asked us if any of us wanted to be millionaires when we grew older. Well of course everyone raised their hands. Then he started explaining about compound interest and the power it has.

Ever since that day, I've been working to get to my first million. It first started by getting a job right out of high school and started saving up my money. My employer offered 401k plans so I instantly took that on. Still I felt like it wasn't going to be enough. So I started a Roth IRA. By the age of 22 I was on my way to becoming that millionaire, but it would have to wait a few decades until it becomes a reality.

Then I started researching different ways to make more money. And everything that I read lead me to real estate or building a business of some kind. So naturally real estate caught my eye. To which I discovered Bigger Pockets. From then on my life has changed drastically. I started listening to the podcasts and reading the blog, and instantly I was hooked. This was going to be the path to that million.

I started slow like most people do because I was nervous to dive right in not knowing what to do. But, action was the only way to making my dreams come true. So I dove right in and bought my first house, doing the house hacking strategy. From then I purchased 2 more duplexes. And hopefully soon will be buying another one, and so on. And so the compound interest, or in this case, in rental properties, started to form. Now I am no where near where a lot of people are on this site, but I hope to be someday. But the many people that are on this site have truly inspired me. 

I am a long ways off from my goals, but I wouldn't be even close without Bigger Pockets and the people on Bigger Pockets. I just wanted to write this post to thank everyone on the site. You might not know me or some of the thousands of others on this site, but some of you have truly changed my life and I'm sure many other people's too. I can't thank you enough. I truly appreciate Bigger Pockets and it's community. Thank everyone so much for your hard work and dedication. It hasn't been unnoticed. 

Post: cash-out refi with bad comps

Daniel Somers
Pro Member
Posted
  • Rental Property Investor
  • Tiffin, OH
  • Posts 37
  • Votes 20

Thanks! Yeah it is definitely worth trying. I will contact my banks around me and see what I can do!