All Forum Posts by: Eric Kotzman

Definitely use credit karma. It's quite useful for monitoring and alerts. A lot of great advice for credit building being said. But, I'll add my own. Instead of using the credit card in lieu of actual cash. Only use the credit card when you KNOW you have the funds to pay it off. One of the podcast guests suggested this by merely using it as a proxy to your money. This is also help you hone your budgeting skills as well.  

Hello everyone! 

I listen to the podcasts daily at work ranging from probably 1-3 per day.I'm also reading Brandon's book on rental properties. One thing I am quickly realizing is that unless I have a big chunk of money laying around, or I borrow a lot, getting started in my area is a bit difficult. On one of the recent podcasts the guest only bought in cash mostly which what I'd like to come close to as I hate having debt of any kind.I am living in the Santa Clarita/ San Fernando area, and my income is marginal at best which I am working on. I would like to start out investing in small multi-family properties, but it's pretty slim pickins where I am at. I'm curious has anyone moved to another area where prospects might be better/more affordable to start? The small first step ideally would be to secure an FHA loan, get in on a rather inexpensive property with little repairs/renovations, and live in one of the units while renting the others. I have great credit and about nearly 20k in reserves not including the down payment.

Any thoughts, or personal experience would be much appreciated! 

Hello everyone!

My name is Eric, and I am slowly starting my education on real estate investing, starting with Brandon's book about rental properties. I've been listening to the podcasts non-stop at work and trying to find other materials to accelerate the process. I have much to learn, but just from what I've heard on the podcasts and read in books so far, house hacking sounds like my starting point. I currently still live at home so it would be a perfect transition into the real estate world, in my opinion, and would give me a chance to learn how to landlord. I am saving as much money as possible, but a FHA loan sounds right up my alley. Actually, Brandon laid out a 7 year example plan (1,000,000$)in his book for rental properties which clicked right off the bat and really kind of solidified how I would want to get started. I know for a fact I don't really want to mess with flips, or massive complexes. Anywhooooo, I guess I have just a couple questions.

1. What are some good reading/listening materials for the FINANCE side specifically, of all this? (I know rich dad poor dad has been mentioned quite a bit, just looking for a solid selection)

2. My first property goal would be either a duplex, or a triplex, based on your experience how much capital/reserves should I save before considering a purchase? 

Thank you for you time and I look forward to connecting with everyone!