All Forum Posts by: John Wells

I disagree. Investing isn't a zero sum game, especially right now. There are truly win win scenarios all the time in the REI world. I always appreciate advice, even if it means someone else benefits from it as well!

Has he read Rich Dad, Poor Dad? Nothing makes me want to invest more than after reading that book. 

Thanks everyone, I appreciate the responses.

Originally posted by @Tyler Mullen:

@John Wells

Why not?  It's nearly the same concept as a married couple, just document everything, have a written plan for the entire venture, who is accountable for what decisions or activities, rents, improvements, costs, exit strategy.  I could see this being massively successful, buy a 4plex, rent out the other three units, then slow flip it over 4-6 years.

What roadblocks do you see in your plan and what are your thoughts to address them?

I guess the one thing that I'm not sure is would we be able to qualify for an FHA loan with both of our names on the property? I figured we would not be able to secure an FHA loan is we are purchasing the property through an LLC, right? So we would just need more money up front.

Hey guys, so right now I am currently in the learning phase of the real estate investment process, and I have a question that I haven't seen anywhere (hopefully not because it is a stupid question). The idea of house hacking intrigues my partner and I, and we have discussed buying some type of Duplex to Quadplex, and then rooming together while renting out the other units. Would this be feasible, or is there a reason why this would not be a smart option? Thanks in advance, this place has been great so far!

Great info, thanks for sharing. I think, like others have said, to stick to less risky strategies like buy and hold and then just make sure you aren't overpaying for what you think a property is actually worth.

@Kevin Kite please do!

I am interested in this as well.

As far as helping Houston out, here is a link to a donation website organized by JJ Watt.

Youcaring.com Link

Hello, my name is John Wells. I'm a 26 year-old working in the construction industry (HVAC specifically). I have just recently been turned on to Real Estate Investing. I plan on investing in rentals in Austin and the surrounding area. Right now I don't know enough to even realize what I don't know about real estate, so I am currently trying to drink water from the firehose that is the Bigger Pockets community. I also plan on attending the local investment groups in the Austin area, so I hope to see you there!

Looking forward to this.