All Forum Posts by: Ethan Angele

@Joshua D.

Thanks for the advice! I definitely like the Dave Ramsey quote too. :-) It makes sense and I think that's what were going do. Having a realtor coming out to take a look within the next few days and hopefully we can get this ball rolling sooner rather than later. 

Thanks again!

Ethan

Hey Everyone, 

Just getting started into real estate and my long term goal is to have rental properties that generate cashflow. My initial plan is to get the extra cash I need for building more reserves and down payments by flipping/wholesaling, which I still want to do in order to speed things up. But I also bought Brandon Turners book (The Book on Rental Property Investing) and the idea of house hacking seems kind of interesting to me. I currently have a single family home (4 bed 21/2 bath) and the first part of the house hacking strategy would be to rent this house out and then go and purchase a multifamily property to live rent free in and therefore save up more cash. My only problem is that the mortgage payment of my current house would only be somewhere around 200 - 300 less then what the average 4 bedroom house rents for.  My question is, are those good enough margins after you calculate additional expenses? 5% repairs, 5% vacancy, etc... 

I'm also looking for input from the Bigger Pockets Community regarding that strategy. Please let me know your thoughts and thanks in advance!

-Ethan

Brandon Turner on the Bigger Pockets podcast introduced me to Grant Cardone and the 10x rule. So I started applying it to my real estate business and wanted to expand my social network, but I apparently took too much action too quickly for the Bigger Pockets system cause it blocked me for spamming! lol That's awesome, just means I'm doing something right. :-) 

Thanks!

Thanks Andrew! I'd be very interested in meeting up for coffee. It really is a small world sometimes. :)

Ethan

Good Morning!

My name is Ethan and I'm new to Real Estate investing and really looking to learn more from bigger pockets and the community. If you have any advice to someone who is new to the business then please don't hesitate to share. As I said, I'm here to learn and I'm really looking for advice on how to first get started with little or no money down. 

A little more background: I'm a huge Dave Ramsey fan and am through baby step 5. I also just attended a Fortune Builders seminar which is challenging a lot of DR's debt principles for me right now. So I am trying to learn and adjust appropriately. Based on Fortune Builders and a local mentor/coach it seems like now is a really good time to get into real estate investing and so here I am.

Thanks!

Kind Regards, 

Ethan