All Forum Posts by: Joshua Hilliard

Does anyone have any experience with Foreclosure Auctions? I have an app on my phone that has a huge list of foreclosures up for auction in the area that I'm looking for. Are these a good way to find good deals or are these more like a good ol boys club and I'll just be wasting my time. It looks pretty amazing but I didn't want to get my hopes up if it's more smoke and mirrors. Thanks.

Hi Charlene, I'm actually doing the same thing but in reverse and moving out of the DC area closer to NYC (NJ). Going to school so I don't have a choice. My wife and I are fixing up our basement to rent out right now. I agree that that is a good way to start. There are plenty of basement rentals on the market and they seem to rent pretty well. My advice is try and buy something within walking distance of a metro stop. All of these will rent better. Also there are a number of military bases around here. Almost all of them are renters with guaranteed income. They make great renters. Hope that helps!

I'm moving to Piscataway New Jersey for grad school and will be there for 3 years. I want to house hack while I'm there rather than paying rent. I'm looking at multi family places and I'm getting excited about moving. I'm looking at units on listing apps and Craigslist using the 2% rule and will have my contractor go with me to look at places when I have decided on a few to look at. My question is, what am I missing??? I'm trying to stay out of flood zones and looking at taxes and rehab costs. This will be my first multi family so I'm nervous about making mistakes and I'll be a full time (20+ credit semesters!) so I won't have much time to correct mistakes. I'm retired military so I will have income while I'm going to school and my wife and I will be renting out our house in DC (added headache?) Just looking for any major pitfalls to avoid as I take the leap into landlord.