All Forum Posts by: Dylan Ritch

 I agree I do still have a lot to learn, which is why I am here and in the starting out category. I want to learn as much as I can and don't plan on making any moves until at the very least the start of 2025, but that is only if I feel confident.

Thank you for explaining those things, I am still a little confused about the loans. So what I think you are is just letting the property appreciate barely or might not keep up with inflation. That it is better to take a loan at 80% LTV and invest that? I feel like I am misunderstanding that

One option I have considered is selling the house and downsizing as it is more than what I need to live. But I might not if it does not make sense to. I know a bit about refi, but can you explain more about that and how I could potentially leverage this? When I say low risk I guess I am more trying to say I don't want to risk losing the house, at the end of the day I will evaluate the risk level of any options and make my decision based on comfort levels. Also I know one rental property isn't enough cash flow with a property manager, but if years down the line if I have 4-5 properties, I feel then it should be enough cash flow to justify a property manager? Also can you expand on what NNN is?

 That is exactly what I have been leaning towards doing. The house is in Clementon NJ, which is not the best area for growth imo, but I think there is rental potential as some houses nearby are being rented as well. Plus there is a community college and train station less than 5 minutes away. I think I could save up around 50k for a nice duplex to house hack and if not then I can continue to live in my place and just rent both out. I think 50k would be for a good downpayment and reserves. Would the goal after I get a duplex to use the income streams and my work income to pay it off as soon as possible? I am unsure what the next step for growth when I am ready to grow after that is. Also, would it be a good idea to use a home equity loan for the 50k or does that seem like unnecessary risk since I can probably raise that 50k within one more year?

I understand what you're saying, I feel I didn't mention anything on time frames. I am fine to learn this stuff and put in the work, but I have been told that this work is very front loaded and that is my goal. I don't mind committing 2-5 years to get everything running and established, so long as by the end of that time frame any portfolio I have is set up in a way to set it and forget it.

I have been living in the home with no mortgage, the house is a 2 bedroom, 1 bath, 1300sqf, and in good condition. I can't add an ADU in the back of the area, there is not enough space.

Hello, I am 23 and have a job with a real estate company. It is a small team and I have been here for about 8 months now. All my coworkers are much older and very wealthy through real estate, all different ways. Flipping, commercial, turnkey, multifamily, etc. I inherited a house last year with no mortgage on it and I really want to get into real estate investing, when I talk to them about it, they always say figure out which kind I want to get into first and then they'll offer me all the advice and help they can. I am just not sure what I want. I want cash flow, low to no long term maintanence (set it and forget it type), and the less risk the better. I feel like renting out multifamily is what I may be looking for with this, if done right can give me cash flow, I can hire a property manager at some point and I am friends with a lot of home improvement companies, and I could either use some money I have saved up to put a down payment or home equity loan for some % I am comfortable with and pay both off as fast as I can and repeat. Although, I don't know a lot on the other options and I may enjoy another one more or be a better option for me. How can I learn more about which option I should get into?

So I inherited a house from a family that passed away a few months ago. It has no mortgage, pretty good condition, and has so much opportunity. It has 2 bedrooms upstairs and an unfinished 1090 sq ft basement (house itself is 1250 sq ft) No inheritance tax and I’ve been living here now for a few months. I just don’t know what I should do here. It’s such a great opportunity but I’m very new to this world and I want to make the most of the situation but I don’t want to take a lot of risk. My goals in the next few years would be to achieve financial freedom and I know that is possible with the house. Maybe I get the basement finished and move into there while getting tenant(s) for upstairs. Maybe I take out a full home equity loan and just buy another property to rent out/Airbnb. Maybe I take out the home equity and try to flip a home. Maybe I do a bunch of other things. I guess I am here because I feel lost and overwhelmed and want to learn how to make the most of this situation to achieve my goals in a safe way over the next 1-5 years if possible.