All Forum Posts by: Dennis Nguyen

Welcome! I am not too far from you - I'm an agent based in Seattle, WA :) 

House-hacking is one of the best ways to get started in real estate! Really recommend the House-hacking book by Craig Curelop. There are many ways to go about it, (Buying duplex, renting by the room, living in a camper while renting your main house) etc. It all depends on what level of comfortability you're at and what you're willing to sacrifice. 

I love the house-hacking strategy, definitely the best one to get started with. I would say getting your real estate license isn't mandatory to be a real estate investor but it does help! If you are looking to purchase your first home with your license that can be a nice way save some money. 

Hi Kobe! I'm a local investor myself, happy to connect and answer any questions you may have. 

When you're wholesaling you are assigning your right to purchase the property. You would be the buyer in this case and once you find the actual buyer you assign your right to buy to the new person. 

1. BP Calculators are super useful! If you want rough rent estimates try rentometer.com as baseline. 

2. The qualifications will be the same as if you're buying your first home. Debt to income, credit, etc.

3. Depends on your preference. If you want to put in sweat equity and do some work yourself then that's a great play. Some people don't like living in a place that is in constant renovation so they want turn key. 

Doesn't seem like a red flag to me. However, did you also run a credit check? A high score may help you with your decision. 

I also recommend the House Hacking Strategy by Craig Curelop! There are also plenty of threads here about House-hacking and LLC's you can search on BP. Once you are ready I recommend reaching out to an agent in your area that has experience with House-Hacking and they can take you through the homebuying process + how to run numbers.

Maybe you can find someone that has done it before in your area and ask if you can take them to lunch or coffee in exchange for advice? You can find many people like that at local networking events! You'd be surprised of how much information they will give you for free if you are friendly and ask. If you are having a hard time figuring out which are good areas to live in/invest in then that is what a real estate agent in your area is for, they should give you good suggestions based on your criteria. 

House-hacking would make sense to me... If you buy long distance you would still have to pay rent to someone else to live wherever you are which would impact your expenses every month.  Unless you are living for free now with your parents then I can see long distance investing working out.