All Forum Posts by: Grace Wang

@Juan Erick Rico Avalos You can use any online property management software, collect a check, use Venmo/Zelle/etc. It's whatever is easiest for you and your tenant

@An Nguyen Hey An. I would confirm with your lender on this, but as long as you live in the second home for 14 days, you could rent out the other days. Where is your second home located?

@Juan Erick Rico Avalos Congrats! Most of the learning will come throughout the next year, but some advice is not to skimp on your due diligence when placing tenants. Create a list of criteria your "ideal tenant" would have and do not stray away from that list. Perform a background and credit check, and definitely verify their references. hope this helps!

@Foster Mefford Read Craig Curelop's book "the house hacking strategy" to start! Honestly if you could start in college and have your parents or someone co-sign for you, you could start investing right away. I assume you're living with some buddies already, so the only big change is instead of everyone paying the school or the landlord, all your buddies would pay you. If house hacking in the next year isn't feasible, get a sales job with a salaried base and start hustling and saving. Another suggestion I have is to get your real estate license. Maybe you could work part time as a showing agent or even do a couple deals. If you work for two years as a real estate agent, and make enough to qualify for a decent house hack, you'd be ahead of most of your peers at the age of 21 or 22 years old. 

I don't think there's any need to go for a certain degree. As you meet other investors, you'll notice everyone has a different background. The biggest part of real estate is relationships, so keep networking and learning and you should be good to go!

@Eric Stugart Factors like overall property cost, down payment, quality tenant should be characteristics to look into as well. The most determining characteristic will be money -- how much do you have? How much do you want to use for the down payment? How much do you have for repairs? etc... It's helpful to pick 3 locations and see how many of your criteria boxes are checked in each of those locations. Another suggestion is to house hack. Have you considered that? What market are you in?

@Jackie Escamilla Prices differ from location to location. I'd reach out to your Realtor and several other plumbing companies to get a quote. Try not to commit to the first contractor option if possible. Due diligence will save you so much headache and cash down the road!

@Kiara Millet congrats on getting started! I would recommend attending local meetups to meet investors who you have a personality match with, or to meet someone who is doing exactly what you want to do. Get to know them and figure out what holes they have in the business and what they might need help with. Mentorship is not a "one size fits all", while the game of real estate is all about relationships. I'd suggest not to rush into any mentorship nor working with the first person you talk to. Check out the "Network" tab on BP or go to meetups.com to see which events are near you. hope this helps

@Mario Sanchez What's your situation?

When a buyer signs an exclusive right to buy agreement, the buyer is obligated to purchase with that specific agent. Are you asking how to get your buyer to sign the agreement? Details, please!

@Joshua Martin No he doesn't. That one talks about setting up your team and having your ducks in a row before investing out of state. 

Craig Curelop's Book "the house hacking strategy" is all about house hacking!

@Adam Stipanovich Great options from Brandon. One more I'd add is that you can create your own mastermind. Seek out others on BP who have similar interests as you, also those who might have only 1 or 2 deals. They will be more experienced than you if you do not have any properties. From there you can all propel each other forward as you learn and grow together.