All Forum Posts by: James DuLac

I house hacked a 4 unit property for my first rental, used a hard money loan to acquire it and then refinanced to a conventional. In my market management experience was required which I "technically had" through a small income on my schedule k from a trust. I got it w 3 units vacant, renovated two of them and got dramatically higher rents than before while living in the 3rd vacant unit. Currently renovating my unit. My main takeaway is that having boots on the ground so to speak at all times is an INVALUABLE managing experience. You will train yourself to be a better landlord because any problems that pop up are right in your backyard! (In my case literally) As rents increase from year to year you can eventually upgrade, move on and rent your unit out. Good luck! -James Long Beach, CA

Looking to enlist the services of a realtor to help me through my first multifamily acquisition (owner occupied). I know the area is pretty specific but does anyone out there in this fine BP community have any recommendations?

Thanks guys,

James

+1 Karen

These are very specific questions that require some specific and detailed analysis. You're really asking a lot with out giving much in return. Welcome to BP!

Hey Ariana

I'm originally from Huntington Beach, beautiful area but very pricey. Good luck with the condo hunt and welcome to Bigger Pockets.

James

Welcome Erika! I'm new as well from Long Beach. Good luck to you and your husband in your future endeavors!

Agreed with Andrew, my knee jerk reaction is that if you're going to go for you should pay down the credit card debt as well. Not sure what your interest payments are but they can't be low. Also if you get the balances low (and the available balances higher) your credit score will instantly go up, qualifying you for lower interest on your other lines of credit. Good luck!

As a recent graduate who is currently seeking full time employment (aka unemployed) in order to qualify for a loan to get into REI, this question is especially pertinent to me. My take: college was awesome and was some of the best times I've ever had. I created lasting friendships that I will probably have forever and to me that is somewhat priceless. Did I learn much? Not really. I received a BS in Business Administration from USC. When I talk to people or apply for jobs, do they think I learned anything? You bet. A degree will help people take you seriously. Was it worth the $30k in debt? Maybe not, depends on my career trajectory from here on out. The answer is really up to you. Starting with community college is smart, I did that as well. You save tons and get a similar education, just less prestigious. Focus on Real Estate and business classes and get your AA. Network hard because as others have said its about who you know. Good luck! Ps. Pro tip: Don't want to spend a lot on college but too young to qualify as independent for financial aid? Get a domestic partnership with a trusted friend. Same rights as a marriage and will qualify you as independent financially. Watch the grant money roll in. A friend and I did this and saved ourselves thousands.

Thanks Julie, will do!

Hello all!

My name is James DuLac, I'm a recent college grad hoping to get into real estate with a buy and hold multifamily strategy. This website has been a wonderful resource for the past few months for me so I thought I would reach out and say hello to everyone!

I'm from Southern California originally and would love to stay and invest here (though from what I've read it seems hard to find cashflow positive properties) I look forward to learning from all of you and possibly meeting some people in the future.

James