All Forum Posts by: Joe Miller

Great work! Love to see it

I closed my first a few months ago!(and my second only a few weeks after that)

I analyzed a million properties until I found my little gem. Well... big gem. I am an unmarried, no kids, no gf, 22 year old, so I talked with a lot of my guy friends and found out a lot of them were looking for a place. I found an off-market monster 6-bedroom. It made financial sense, is gorgeous, and cash flows well with me living in it for "free". So I ripped it. I was in the analysis paralysis for far too long and was tired of it being other peoples turn. It was terrifying, took literally every single dollar in my savings but I have no regrets.

Currently-I am eating tuna and PBJ's, sleeping on the couch until the attic gets A/C and showering in the unfinished basement shower that doesn't have hot water. I am in the real estate investing trenches, but am grateful.

Mentors are great. I don't pay for mine though... I would network with people who are investing and doing exactly what you want. See how you can bring them value and let the mentorship blossom naturally. Also, read read read books on it. Spend a year as a sponge. 

As for being an agent--- do not get discouraged. expect many failures before your first victory and stay persistent no matter what. You got this! 

Whatever you do, I would use it to leverage more money and have it make as many babies as possible for you. Large MFH is where I would look !

Yes, you can absolutely rent out by the bedroom legally. With the right property you can definitely live rent free and even make a little money!

1. I only know the midwest but I love it here and my money works hard for me. 

2. I think it limits you and I am trying to break out of that myself currently. 

My first property was a small 90k single family in a podunk country town.

Had good ole boy John as my first renter who set his payment on auto-payment and would pressure wash the house bc he liked to. It was a great learning experience and let me test the waters. This property is 1.5 hours from me but in the same state. I bought it because I was familiar with the town. 

*retweet*

When I say multi-family I meant anything more than a single family property. 

 Hit the nail on the head^^

Interesting life spot you are in! I have a few clarification questions: You said "have access to", I don't mean to pry but is the money yours to freely do with as you wish(you do not have to pay back at a certain time). Next, do you only want to leverage the capital or are you thinking using that 100k as down payments and then having a mortgage(s)? 

If I were you, I would talk with a few lenders, see where my finances stood, see where my pre-approval was and then go from there. I would aim for a multi-family(I'm from the midwest so money stretches a little farther lol) if possible because when you go MFH it cuts out all the actual homeowners so it isn't as competitive in my opinion. 

Best of luck with whatever you decided:)