All Forum Posts by: Joshua Noth

Welcome to BP @Diego Omar Jaime, happy to have you here.  You have the right idea to start learning and networking - it'll pay off tremendously in the long run, though it can be overwhelming at first.  Always happy to help if you need anything.  Wishing you the best of luck

@Vinh Nguyen It's better to include all of your costs (purchase price, repairs, etc.).  That way you have a better overall picture.  You could do it at purchase price, but if you find it rents at 1% of purchase price, and you do some repairs, it'll only lower your percentage, so it would really only hurt the property's performance

@Shaviv Delkhah It's great that you're already looking into REI - the sooner you start the better. If you can find a good house hacking opportunity in your area, that is a great way to start. Get hands-on experience being a landlord, hopefully make some decent cash flow (or at the very least, minimize your mortgage), and can you likely repeat it after a year or so. That being said, long-distance investing can work just as well if you have a great team to back you up. As was mentioned, that "Core 4" can go a long ways and make your job as an investor much simpler. I think most people would recommend house hacking for your first investment, but it'll ultimately fall on your goals/timeline/etc. Best of luck to you!

@Sean C. That is spot on - habits are INCREDIBLY important, and most all successful people (investors or otherwise) will tell you that is the best thing you can do.  Like you said, learning and understanding a process is critical so that you can properly apply it when the time comes to do so.  It seems like you have the right stepping stones in place, so keep it up!

Welcome to BP @Ryan Storms! Great to have you here.  Dive into as many sources of information as you can: podcasts, forums, books, everything! Soon enough you'll be pros.  Always feel free to reach out if you need anything

Welcome to BP @Taylor Busick! Happy to have you here.  Starting early is a huge plus in investing, so you've already got that going for you.  Paying off your debts and learning as much as you can is a great way to get the ball rolling.  You want to be prepared for when you are ready to purchase an investment.  As you're learning, find what strategies and markets appeal to you.  When you find an area you like (whether local or OOS), look to network with people there so you can have as much first-hand knowledge as possible.  The more you know, the better your investment can be.  Best of luck to you moving forward!

@Caleb Reits Depends on your goals and what is available, but many people prefer small MFH. Many things work out for them. Economies of scale favor small MFH heavily, given you just have more under 1 roof. Even if 1 side isn't renting out, you still have at least half of your property bringing something in - if your SFH isn't renting, it's just not making you cash that month. A large obstacle with small MFH however, as @Stephen Brown mentioned, is the competition over limited inventory.  

Welcome to the forums @Sean Parno, happy to have you here. Wishing you good luck in you REI journey, always feel free to reach out to the community

@Greyson R Wolf-Dixon

Ultimately what you find works best for you will be your best investment. If being a landlord is not in your wheelhouse, don't try to force yourself into that position. As mentioned, small MFH will tend to give you more wiggle room for cash flow, but that is subject to each market. If you went the SFH route, you could always look to use a rent by the room strategy, which might balance your cash flowing odds a bit more. I don't know for the area you are in, but sometimes small MFH just isn't as much of an option in terms of inventory, so that is something to consider as well.

Welcome to BP @Sean C., happy to have you here! It's great that you've found your motivations and drive behind REI - it'll help you tremendously as you go. You've got the right idea for now: learn, learn, learn. Forums, podcasts, blogs, and books are great places to start, but also look out for local meet ups and groups to join. Wishing you the best of luck, Sean! Never hesitate to reach out if you need anything