All Forum Posts by: Jarret Jarvis

Hey Asim,

If it's not in an ADU zone, long-term rental could carry some risk, especially if it's not legally recognized. Airbnb might be an option if local regulations allow it. Another route—house hack by including it with an upstairs unit.

Might be worth consulting a local zoning expert or attorney to explore your best move. Good luck! #letsgo

– Jarret

Hey Wen,

Congrats on the two-flat purchase! Insurance pricing can be wild—definitely worth shopping around. Some investors use State Farm, Farmers, or specialty landlord insurers for better rates.

For liability, an umbrella policy (separate from homeowner's or rental insurance) adds extra protection. Your rental property insurance should cover tenant-related issues, not your primary home policy.

Worth chatting with an independent agent to compare options. Best of luck! #LETSGO

– Jarret

Hey Joscelyn,

Welcome to BiggerPockets! Sounds like you have a solid plan and a great market focus. BRRRR and house hacking are awesome strategies to build wealth—excited to see your journey unfold!

Looking forward to connecting and sharing insights. Wishing you success on your first rental! #LETSGO

Best,
Jarret

Hey Aahil,

You're off to a great start! If long-term wealth is the goal, scaling rentals strategically (better financing, higher rents, BRRRR) makes sense. If you need more capital, flipping can work—but it's riskier.

Mentorship can speed up your learning curve, but networking with experienced investors might be just as valuable. Join local REI groups, connect with agents/lenders, and shadow a developer if that's your end goal.

Keep building and stay focused—you're on the right path! #LETSGO

Best,

Jarret

Hey Kyle, sounds like a smart approach to explore both options. When interviewing agents, be upfront about your preference to rent and see how they handle both listings. Some may expect to handle the rental too, but it’s not a given. Look for someone who presents a solid strategy for both outcomes without pushing you toward a sale. Happy to chat if you need insights! #LETSGO

Hey Britt! Welcome! Investing in real estate is exciting—starting with a fixer-upper can be a smart move. For estimating rehab costs, connecting with local contractors or experienced investors can help. As for areas, consider neighborhoods with strong rental demand and potential for appreciation. Happy to share insights—what’s your ideal price range and strategy (flip, rent, house hack)? #LETSGO

Hey Charlotte! It’s great that you’re thinking through all the costs before jumping in—smart investing is all about accurate numbers!

A quick way to estimate additional costs beyond the mortgage and property taxes is to use the 50% Rule as a rough guide. This means that, on average, half of your rental income will go toward operating expenses (excluding the mortgage).

Here’s a breakdown of common costs to factor in:
✅ Insurance – Get a quote before purchasing (varies by location and property type).
✅ HOA Fees (if applicable) – Check with the HOA for exact numbers.
✅ Property Management – Typically 8-12% of monthly rent if you’re not self-managing.
✅ Vacancy Rate – Assume 5-10% of annual rent for vacancies.
✅ Maintenance & Repairs – Budget at least 5-10% of monthly rent (higher for older properties).
✅ Capital Expenditures (CapEx) – Roofs, HVAC, major repairs—set aside another 5-10% for these.
✅ Utilities – If tenants aren’t covering all utilities, estimate based on past bills.
✅ Landlord Reserves – Always have extra funds for unexpected expenses.

To make sure you don’t end up losing money each month, use a rental property calculator or build a simple spreadsheet to break everything down. If you want, I can help you analyze a deal to make sure your numbers work! Let me know how I can help. 😊

Hey Veronica! It’s great to see your enthusiasm for getting into real estate investing! Since you're in Illinois, we might be able to connect and share insights. As a real estate agent, I’ve worked with investors and can tell you there are definitely ways to finance deals without using much (or any) of your own money.

A few options to explore:

• Hard Money Lenders – They cover most of the purchase and rehab costs, though interest rates are higher.
• Private Lenders – Networking with people who want to invest passively can be a game-changer.
• Seller Financing – Some sellers are willing to finance deals, reducing upfront costs.
• JV Partnerships – If you find a great deal, you can partner with someone who funds it while you handle the operations.
• Wholesaling – This can help you build capital without needing to own properties.

If you’re serious about getting started, let’s connect and talk strategy! There are definitely ways to make it happen without draining your own funds.

Hi Amy,

That’s exciting—congrats on getting ready to buy your first property! When managing properties from a distance, a good property manager is key. You can find them through investor networks, BiggerPockets forums, local real estate groups, or referrals from other landlords.

To ensure the property stays in good condition, set clear expectations with your manager, schedule regular inspections, and consider using smart home tech (cameras, leak detectors, etc.) for extra oversight. Tenant screening also plays a big role in keeping things smooth.

Are you buying locally or out of state? Happy to share any insights that might help!

Best,

Jarret

Hi Nicole,

Great to connect! It’s awesome that you’re not only helping investors build their portfolios but also planning to start investing yourself. Having an agent who truly understands investment strategies is a game-changer.

I’m also a real estate agent, and if you’re ever looking for a partner on an investment deal, I’d love to explore opportunities together. Always happy to connect and collaborate!

Looking forward to staying in touch.

Best,

Jarret