All Forum Posts by: Dominique M. Conwell

Hey BP,

I am analyzing on surface level for my first deal which I am looking into MFH. I found this ideal ideal 4plex that was on market for 650k. I think this was a tad expensive, changing websites to zillow showed and Zestimate of 200k. This was quite concerning to me and I was wondering if that held any weight? Rentometer showed comparable rents from around 1300-2000. 

Maybe this deal is too big for my first one, I'm trying not to let me emotion get into it. I ran my last free calculator at 600k and it almost met my metrics. I really need to go pro soon. Please advise thoughts.

Hey BP,

So I believe I am ready to start investing. My strategy I want to employ is the BRRRR strategy. I understand that finding the deals are very similar to flipping. Would finding a wholesaler to secure deals for me be counterproductive?

@Priyanshu R.

Makes total sense. I too am from a finance background, and that seems like the best option. I'm just not sure if everybody would agree. I'm sure it has it's pros and cons.

@Priyanshu R. @Dieggo Goncalves

Thank you. I was thinking about interest rates and how I doubt I can get more return than 17% and 24% especially as a beginner so it is okay to being safe. Then maybe flipping houses after awhile to get out of student and auto debt. OR would you suggest keeping those and finding a higher interest rate in real estate?

@Frank Patalano

Yes , I haven't which also is holding me back. Fun fact is I am a Finance & Economics graduate and I also looked into being a real estate agent. I took the classes through my University. So real estate as a whole was already interesting to me and I understand the terms and ratios and math behind it. I was thinking about getting my license anyway to reduce my bottom line. So that's holding me back as well as since it has been so little diving specifically into real estate investing. The real estate courses had very little if any to do with investing.

I've been researching for about a 2 weeks now, listening to over 100  biggerpockets podcasts, I'm starting to read How to Invest In Real Estate from BP Publishing after finishing Rich Dad Poor Dad, even though I'm starting to feel more comfortable and confident. I'm just searching listing websites daily looking for the perfect 4plex or other MFH in Atlanta, GA. I'm currently about 5k in CC debt which is also holding me back. I feel like I should pay that off before investing. It will take about 2-3 months. I look to have my first house hacked property by the end of 2019.

Does anyone disagree with waiting to pay off debt before venturing out into the real estate investing world?

@Nick Giulioni I have a very strong family connection experienced with rehabbing. This way would be slower to actually complete the process but is also sharing knowledge with me. 

I do not have much saved up capital, which is why I was going FHA route with only 3.5% down. I was purposely trying to utilize OPM.

What would you suggest the safest route? Since it's only my first deal, I am not focused on profit. (of course I do not want to lose money), but I am just looking for experience to develop my process.

Hey BP'ers,

I am new to real estate investing and for my first project, I would like to house hack a MFH with a FHA loan in the Metro Atlanta, GA area. My question is should I avoid foreclosures, or listing sites such as realtor.com, zillow.com, etc..

I know I'm looking for the deal rather than the house, but given my lack of experience. Should I stay away from locations I have to rehab or sites that would give not as fruitful deals.

Hey,

I am new to investing and I plan to make my debut as a real estate investor with a house hack in a multifamily duplex, triplex or quadplex. I currently have a full time W2 as a pricing analyst and I make decent income. I anticipate on getting a FHA loan to secure financing.

My question is should I use all the money that I can get pre-approved for or use a formula using expected cashflow along with my income to determine what my buying limit should be?

Thank you! @Jason D. I plan to start my real estate investing career house hacking, then elevate as time progresses. You have brought some insight and I will probably wait to get my LLC.