All Forum Posts by: Jack Reid

Fantastic form! The one-question pages up front allow for an easy user experience and creates buy-in to complete the later longer page of questions. I have my own Google Form already and will be adopting your layout. Thanks, Filipe!

I wouldn't constrain yourself to simply condos. You'll be able to get a larger property with more units or bedrooms by using an FHA loan. With the right setup you could easily justify the PMI.

There are too many horror stories out there from inherited nightmare tenants. Sounds like you have the right idea by making the purchase contingent on him being out. 

Yes, there are a ton of variables that go into this question of purchasing a duplex alone vs a fourplex with a partner. There are potential benefits and risks to both. That said, what would you choose and why? Make sure in include the variables that are required for your decision. 

Welcome, Robert! Thrilled to have you join BP! 

Thank you all for the warm welcome and the suggested next steps. As Christian mentioned, this extra time during quarantine was a needed push to get out of the regular routine. I will be diving into all the suggested resources you said and that this site has to offer. I hope to see you all in more discussions and maybe even podcasts/webinars one day. 

Cheers,
Jack 

Thanks, Brian and Matthew! I'm excited to be here and meet you both!

Hi! I’m new to the real estate investment world and have been determining the skill gaps that I should fill for myself. My first step was reading all the foundational Bigger Pocket’s books.

Now, my next skill gap to fill is the practice of analyzing and determining deals. But I need your help to best kickstart this idea. See below the outline of my plan. Please let me know what you think. It would be great to get feedback on this exercise and other ideas that beginners should put into practice.

Here is my idea

Goal - Analyze 500 deals through the Bigger Pockets Deal Calculator

To analyze and track:

• Calculated ROI
• Calculated Cash Flow

Check if the property meets the following:

• 1% Rule
• 2% Rule

Area Check

• Crime Rate
• Median Income
• Occupancy Rates
• Population Growth
• School Rankings

For the sake of this exercise, I am choosing to not stick to only one market nor type of real estate investment - will use both the Rental Property and BRRR calculators. I will also explore the various markets in this activity to identify and understand the variables to consider.

My request of you - any input on this exercise design or other practices that can be done to get from a foundational level of real estate investing knowledge to intermediate and ultimately expert.

Hello, Bigger Pockets!

My name is Jack and I’m completely new to the world of Real Estate Investing.

A quick about me - I grew up in the California Bay Area and until recently have been working in a tech company in San Francisco. With Covid-19, I’ve spent significant time questioning what I’m truly interested in, envisioning the life I want to live, and the wealth I want to provide for myself and future family. I then remembered my mom talking about Bigger Pockets for most of my life - which I completely ignored until now. Then the lightbulb lit up and I am now open, no, 100% committed to real estate investing and creating financial freedom.

With this commitment, my first step has been to learn the foundational knowledge of real estate opportunities and basic best practices. In the past month, I have read Set for Life, Rich Dad Poor Dad (for the second time), The House Hacking Strategy, How to Invest in Real Estate, Buy Rehab Rent Refinance Repeat, Richest Man in Babylon, and Long-Distance Real Estate Investing. 

It is great to meet all of you and I’m excited to learn and grow together.

Cheers,
Jack