All Forum Posts by: Jake Andronico

@Michael Connard

Welcome to BP! Tons of great info here. I've been living and investing in Reno, NV for quite a few years now, but grew up in CA. 

Hope you're able to contribute and receive valuable information from these forums! Happy to connect anytime. 

@Hector Rosario

Welcome to BP! You're in the right place. I've house hacked twice in Reno, NV and it's changed my life. 

Sounds like you're in a great industry with flexibility and the determination to hit your goals!! 

One thing I always tell people who are house hacking: The more uncomfortable you're willing to live, the better the numbers will be. The more comfortable you need to live, the worse the numbers will be. 

Best of luck to you!

@Joseph Henry

Definitely suggest getting familiar with Section 121 from your CPA. These comments above are right on the dot. 

Pretty amazing you can have $500K of tax free capital gains (if you're married). 

Going from a $20K mortgage to a $1.2mil mortgage is quite a 180. Putting more down or not getting as large of a home may make more sense (depending on your goals of course). 

Best of luck to you! 

@Brian Quo

Totally depends on if you can afford it. I completely understand not wanting to "miss the boat" but if you know you're going to have negative cash flow you HAVE to know you can afford it. 

Otherwise, you can end up being a motivated seller which is exactly what you do NOT want to have happen. 

Here in Reno, NV with 20% down on new builds the loss is less, especially on these particular ones which have 5.5% interest for investors. 

If you're looking to stay in state those areas you mentioned seem solid, and Sacramento as well. 

Best of luck to you!!

@Bei Zhang

Welcome to BP! There's a lot to go through. I recommend investing locally if you can, or somewhere where you can drive to your property if need be. 

Sacramento is a great market if you want to stay in CA, but I moved to Reno, NV to live and invest. 

High appreciation, low property taxes, strong rents, stable job/population growth, tech booming, etc. 

Not for everyone, and I'm obviously bias, but wanted to put it on your radar. I was investing here long before I became an agent and it's the best decision I've ever made. 

Best of luck to you! 

Quote from @Jacob Nevarez:

Quote from @Jake Andronico:

@Jacob Nevarez

Congrats man!! Here is my experience house hacking at 22, and what I ultimately regret: 

https://www.biggerpockets.com/forums/922/topics/1133476-hous...

Wow, that's a fantastic post, @Jake Andronico! Way to find a way to house hack rather than let funds stop you! Are you currently using house hacking as a method of investing, or are you using different methods? 

I've now moved out and run them as rentals (still by the room). My fiance and I just moved into a new build in North Sparks, but continuing to slowly build funds up, do improvements to the rentals, and pay down my mortgages. 

I'm also building up a stock portfolio as I have neglected that over the years (but glad I did to invest in RE). 

My goal is to have these paid off as quickly as possible. 

@Jackson Hanssen

Welcome to BP! Sounds like an interesting startup. Sent you a PM to learn more. 

I'm over the hill in Reno, NV and moved here from Marin County. 

We do a ton of small MF in Reno. Happy to chat if you're considering out of state. If not, no worries at all. 

@Jacob Nevarez

Congrats man!! Here is my experience house hacking at 22, and what I ultimately regret: 

https://www.biggerpockets.com/forums/922/topics/1133476-hous...

@Leo Li

I'm sorry to hear that, but hopefully it's for the best! 

If it sounds too good to be true, it almost always is. 

House hacking is a phenomenal place to start. Here's my experience house hacking, and what I regret: 

https://www.biggerpockets.com/forums/922/topics/1133476-hous...

Quote from @Haiden W.:

Quote from @Ray Hage:

I give you a lot of credit for starting young and making those mistakes early but most importantly learning a lot! Wish I had the brains to do that at 22! 

 Well said!

Thank you man! Much appreciated.