All Forum Posts by: Jabbar Adesada

@Sam Trulli

Hey Sam I have read some of the comments and would really stress like others said using very little if not none of your money to get started in real estate. I bought my first property this February at 19 y/o and it’s been amazing for me under contract on a second one, and trying to lock in a third before the end of this year if not the VERY beginning of next year. I started with house hacking and that was by far the best decision and it will get you some experience under your belt to decide where to go next. The second deal I’m buying when it closes I’ll buy with none of my own capital because I leveraged deal finding abilities, (non family) relationships, and experience/knowledge, the third deal I buy will be done in the same manner if not probably with the cash flow from my 1st deal. So house hacking or the $22k I was all in on that first house will lead to more. I stress this to you because it is very easy overpaying, being careless, or rushing into things when you think you have a lot of money and I observe this quite often. It is pretty common in some areas to get a very high COCROI from house hacking because theoretically you are putting very little money into the property. What I did to learn was I started at episode 1 listened to every BP real estate podcast, read all the how to books BP provides and got on the forums and learned/built relationships with investors in the markets I was thinking about investing with. I am not saying this is the best way just what I did to get started. I hope this can help give you a sense of direction. You don’t have to listen to every podcast or read every book just enough to where you really understand and have a full grasp of the concepts needed to accomplish your goals. OHH, and figure out what your goals are, they will change, but listening to the podcast will help you figure out what is even possible.

@Sam Fickel

Yeah I suppose one could just keep 100% if they did the deal all debt, 50-50 would make no sense for someone with experience

I would try Roomies.com Todd Baldwin talked about it in his episode of the BP podcast and that’s where all my best prospects and most of my good leads come from

@Jim P.

You may be marketing to the wrong demographic or not marketing or prospecting enough. I am sure there are others getting a much higher rent premium for a bedroom in your area. I am in a much more affordable and less desirable market and get between $732-$850 per bedroom

@Paul Sandhu

Geez man, you are hard core…

@Paul Smythe

Deals everywhere you just have to be creative. I see 30% ROIs on the MLS don't be stuck to your own geographic location and don't be stuck to the same traditional strategy of renting a SFH to a family

@Cruz Gartner

As a 19 year old with really low living expenses I’ll probably hit FI next year at 20. property #1 is a rent by the bedroom house hack and does over $1,200/mo net. Under contract on property #2 and plan for that one to do at least $1,000+/mo net for my stake in the deal. When I buy another 2 this year At my current pace I’ll be FI in 18 months, when I hit my goals I’ll be at FI in less than a year with $4k+ in cash flow at 20. The future will tell, but I know I’ll hit it well before 5 years.

@Bill Exeter

Thank you for informing me of that! I have no intention ever to commit fraud, my honor and integrity are way more important to me than a couple thousands dollars in cash flow... I will refer to the loan documents then and be sure to move forward with honesty! Thank you

@Mike Hern

This was very insightful thank you so much! There is so much conflicting information out there even from attorneys that I am probably confusing the use of a trust vs a quit claim. I will also be sure to talk through that point you made about 51-49 to my partner, so we can avoid that issue now that we aren’t unhappy with each other. Thank you again!!

Hello BP!!

Anyone familiar with how one can use a land trust to gain ownership interest in a property? Pros and Cons? I have been doing research and found something saying by utilizing a land trust one can reduce risk of the due on sale being enacted on them a clause most convenienal mortgages have. I want to partner with someone on a deal where they will be obtaining the loan and I will be bringing forth the money/asset management essentially. Any tips, attorney advised to just quit claim, in spite of the due on sale clause and wanted to see what other options I have. Both of us would be 50:50 on everything