All Forum Posts by: HoJin Lee

@Ed Emmons 

Thank you very much for your advice. That is a great idea in order to learn about real estate. I feel that I am not ready yet. However, since that I have the opportunity to either house hack or invest in a multi-family house in my home state, I didn't want it to go by or wanted to be smart with money. I think I am eager to do something. 

@Bernie Huckestein It is nice to see fellow Mainer here! Thank you for taking the time to reply my post and your advice. I am really glad that I asked my question here.

Since you mentioned about variables, it raises a few questions for me that "Am I able to find a nice 'house hackable' place in the area despite HIGH property tax, etc here" "How much loan do I need or would be able to borrow" "If I am able to get a house, would the value depreciate and would not be able to use it as collateral to get the second property in Maine?"

Since I do not know anything about real estate, all the thoughts make me nervous hahaha Now I think about it I wish college should have taught me some of these knowledge

Thank you again, Mr. Huckestein.

@Alex Malyarovich Hello Alex! Thank you for your message. I have been hearing great things about the podcasts here. I will have to listen through them as well! Thank you for the suggestions.

@James Canoy Thank you so much for your reply and advice!

I considered Maine because the rent can be $1,000 - 1,100 / month including heater and water. I have seen other people renting it to medical professional who are staying for residency or moved in the town for jobs and stay until they settle down with a house, or elderly people who are looking to retire in an apartment and don't care about maintaining a house. Basically, people who won't have any trouble paying the rent. 

Hello BP Community!

I am very new to real estate investing (almost zero knowledge) and I would love to hear people's opinion on what has been on my mind. 

I worked restlessly for 3 years from a not-well-paying job and was able to save small amount of money. I thought that, instead of letting it sit in my bank, it would be a great idea to invest in real estate and work toward financial freedom. 

Currently, one option I am looking at is asking a friend, who is a builder, to build a multi-family house (3-4 units inside) in my home state (ME) where health care professionals, retirees, and college students are for rental.  Another option is, since I am currently renting an apartment in NJ, buying a duplex or house then rent out a room or one section while I live with the tenant.

I would very appreciated if anyone could give an advice on which route would be great to take and what type of loan. Or even there is a better and smarter real estate investment idea. 

Please feel free to ask me if there is any information I could provide which could help determining a good investment.

Other information

Credit score : around 750

Loan amount looking for : 300,000 - 350,000

Home state : might qualify for USDA loan

Thank you again for reading my post!

@Michelle D. Thank you for your warm welcoming! I was able to save some money and instead of letting it sit in the bank, I thought that REI is a great way. I didn't know it is addicting though hahaha :) I will have to see for myself. Thank you again!

@David Weintraub I would be very interested in a meetup as well :) Please let me know! I look forward to speaking with you!!

@Mike Floris Thank you for reading my introduction post, Mike! I cannot wait to dive in and learn from the website. I think I will spend some time each day as well. 

I really believe that the community here is great with awesome people! Looking forward to talking to you if we have a chance and seeing you around the forum

@Tom Ott Thank you so much!! 

Hello everyone!

I learned about this website from another website and I decided to check out one day. Then I just to had to sign up after realizing how valuable this community is!

I am very excited to be part of it and I hope to learn a lot and be helpful as well as many experts do here.

However, I am very new to this site as well as investing in real estate. Could anyone please guide me to

1. Where I can start to learn more about real estate or where would be a good starting point to learn and become knowledeable

2. Where a newbie can ask experts for their advice and opinions

Thank you very much!