All Forum Posts by: Devin James

Hey Petr Topov,

Renting out vs. selling depends on your personal goals. Without anymore information, I would say rent it out and to definitely use a property management company if your budget allows it. Also, I recommend putting the property in a LLC.

Usually when I speak with seasoned investors, their only regrets are "I wish I bought more" & "I wish I never sold"

Congrats & Goodluck!!

Hey Enoch Li,

I would recommend going out of state rather than "Just keep the cash"

Hey Eunice Villarroel,

I would adjust rent to account for the smaller backyard space. If the numbers still work, go for it!

Hey Ryan Williams, 

In my market (Orlando), if I can significantly reduce my monthly payment to less than it would have been if I rented a similar home & theres a value add opportunity - then thats what I would consider a good deal. 

Finding a house hack that will cover the entire mortgage is almost non-existent here.

Congrats Mark DeFrancesco, I had a similar situation for my first deal. House Hacking is definitely the way to go!!

Hey Nicholas, 

I recommend house hacking. It's a great way to get started in this business. 

I also recommend that you start cold-calling the multi-family owners in the area you want to house-hack. This way, you will learn to communicate with potential sellers and get used to having those conversations. & the cold calling could lead to a potential wholesale opportunity.

Welcome Jennifer,

Glad you could join the community!

Hey Kevin,

You can't go wrong with any of the BiggerPockets Books. Other than those, Rich Dad Poor Dad & The Millionaire Next Door are must reads!

Hey Kevin,

I would suggest you do exactly what your planning. Save as much as you can in the next 16 months and keep your eye on the market.

During that time you're saving, you can cold call or send mailers to a list of properties that fit the criteria for your house hack. With 16 months of consistent cold calling/mailing, you should find some potential owners that will be willing to sell by the time you're ready to buy. If an owner is looking to sell sooner than you're looking to buy, you can wholesale or find a partner with cash.

Also, I would suggest networking as much as possible. The more you put yourself out there, the more likely you'll find a deal or another opportunity that can help you in the future. 

A LOT can happen in 16 months, so just stay consistent & don't try to reinvent the wheel.

Good luck!!

Congrats Kenton, thats huge!!

I also learned the hard way about DIY and that it's usually much quicker to just hire it out.