All Forum Posts by: Andy McNeany

@Andrew Bosco

I am intrigued by the midterm strategy as I learn more about it.

I heard of someone doing a call ahead grocery order before check in and sounded like a nice touch. I know anytime my family stays somewhere my wife and I spend 2-3 hours out of one day shopping to stock what we need. Always feels like a waste of time to start the trip, stay.

Thanks for sharing.

@Trent Brodbeck

Welcome to BP!

Unitize the podcast, books, and forums. So much great information available.

Good luck!

@River Sava

I am looking to find a duplex, preferably, or another single family home in the town I live. In preparation I am putting money back all the time for the next purchase, and continuing to learn and evaluate any deals I can.

I want to be ready when I find the right deal.

Thank you for the comment.

@Anna Massaro

Welcome to BiggerPockets!

Congrats on setting up a profile.

I have learned over several years that BP works so many ways. There are podcasts, my favorite, forums, articles, groups.

I don’t have a lot of experience but can share my knowledge on buying a personal residence.

Welcome!

@Terrence Terrell

Thank You!

We actually really love our primary; the neighborhood, the schools, the size is right for us now and into the future.

The next house will be another single family rental or a duplex in our area that we can self manage for now. My plan is to find that property this year. It would seem a comfortable growth to add at least 1 per year.

I randomly signed up for BP back in 2013 with some hopes and dreams, and my only experience was the purchase of my first home a few months prior. 

Along with the purchase of the house was an instant family as my new wife was raising 3 girls from a previous marriage. We welcomed our 4th daughter into our home in 2015. I knew we were going to quickly grow out of that house so we started going to open houses to look for our next home with the intention of renting out our current home. To get what we wanted, where we wanted, it was necessary to sell our home instead of keep as a rental.

Now, 8 years in our current home the kids are growing and so is our equity. I have worked my w-2, actually commissioned sales, for 13 years now and have reignited my desire to own a real estate portfolio. The past year and a half I have rediscovered BiggerPockets and have been consuming books and podcast content. A co-worker and good friend of mine partnered in February of '23 to purchase our first rental. 

 I am here now with a reintroduction for myself to the community that I never delved deep into the first time around. I look forward to connecting and learning from people on here, and I will contribute what I can.

@Himanshu Das

I am not experienced by any means but I would start with where you live and/or work. Find something close that you can manage.

Maybe look at a smaller/more affordable market somewhere close so you can manage and picture your investment before you start investing further out.

50/50 partner and I bought our first rental property in February 2023, long term renter moved in mid March after minor rehab to get it ready.

We want to buy another property in the coming year but don’t want to come with as much out of pocket as we did for the first property. Both of us have stable W-2 jobs with the same company and are saving back up for another purchase, however, with both of us doing projects on our current home the savings are moving slowly.

I thought I would reach out to the BP community for any suggestions on lower down payment options. What am I missing or strategy I am overlooking?

House Hacking is not an option for me with my wife, 4 kids, and 2 dogs. My partner is single and currently house hacking his primary.

Have considered a hard money lender, and am going to meet with one soon in my area to discuss options with them.

@Brady Robertson getting started and taking action is the best first step. Taking action comes in several different forms and is going to be unique to you.

Paying off high interest debt IS taking action toward your first deal. The quicker your personal finances are in order the quicker you can kickstart the savings for a property.

If your girlfriend is not comfortable with househacking, would she be comfortable with a live in flip or renovation. Live in it for a year or two then look for another primary residence and rent out the first property.

Looking back I wish I had kept and rented out my first property which would have helped speed up my timline.

@Tim Johnson it is a 2-bedroom 1-bath house with a basement in a decent location listed originally for 127,100. Was on the market for 32 days and they dropped the price to 125,100 before I submitted my offer of 112,500 with pre-approval, conventional financing with 25% down.