All Forum Posts by: Ikenna Okoye

Great tips Kathy, thanks very much! I guess I wanted to go the route of not bugging my agent too much, but I guess its all part of the process. 

Aerospace myself!

Hi guys,

I'm looking to make the next steps with RE and selecting my personal CPA and Attorney. One question with the costs associated with this is, when you all make offers on properties or look at partnership or investor agreements, are consultation fees usually something you need to take into account with an attorney if they are looking over documents several times over the course of buying a property? What are some examples of matters where you would pay an attorney for their time? Any guidance would be appreciated. Thanks. 

Hi all,

Does anyone have any tips on offers and how to start this process? Are there documents or templates out there that i could use and are these templates good enough to make offers on properties. 

I would just like to know what my offers are. Thanks!

Thanks Faris!

I did read that guide and also the bigger pockets podcast episode on house hacking among some other educational material. I'm also fortunate to be around a great group of investors that help guide me through the process. I would take advantage of the cozy.com website for property management and even google different examples for tenant lease contracts. 

Also let me know if you have any tips you can also give, after all I am just as new to this as you. 

Cheers

Investment Info:

Single-family residence other investment.

Purchase price: $475,000
Cash invested: $14,250

House hack of a 4/2. Currently working on getting tents into the home.

What made you interested in investing in this type of deal?

Gaining equity and net worth all while potentially cash flowing just by living.

How did you find this deal and how did you negotiate it?

Found it on MLS and my broker negotiated using my budget and financial situation.

How did you finance this deal?

Cash down payment of 3%. Conventional 30 year fixed rate mortgage.

I definitely will give my agent a call. Regarding the renters insurance, I have it as an optional coverage though making it mandatory could be the best bet if the liability coverage I have under the home insurance policy is not enough. Thanks Evan!

Hi bigger pockets community,

I'm about close on my first home purchase and am doing the house hack method, renting out all rooms except my own. 

I'm worried about the liabilities that could come with this before I establish my LLC in the future. I know that landlord insurance is typically recommended with any rental property, but I'm not sure if its necessary for a live in rental like a house hack or if typical home insurance usually covers

Should I get landlord insurance to protect myself or is a home insurance policy enough to protect myself from potential suites and such? Any guidance would be much appreciated. Thanks!

Ikenna

I've come out of hibernation.Thanks to everyone for the tips, I will try my best to filter through all of this great info!

Hey guys, new to the whole idea of real estate any good ways yall recommend to start gaining knowledge in area? Seminars, books ect?