All Forum Posts by: Josh Young

Hey All, I’m an electrical engineer by training and have been working in the electrical utilities industry for 15 years.

I’m tired of working for someone else! I would like to be more financially independent. Just recently bought my first home and wanting to learn how to do house hacking. Hopefully I can expand to other properties. 

It’s awesome that there is this whole community here sharing information! 

Hello all,

I've been approached by a housing company asking if I would be willing to rent out my place for 6 months. They have offered me a price for it - which allows a decent cash flow. I've never done this before, but I was wondering is this price negotiable ? Can I ask for a little more ? Has anyone attempted this ? 

Thanks in advance ! 

@Josh Young

Awesome! Thank you so much. Just so I am clear, this would mean the tenant needs to pay 2 months as an early termination fee and as well as pay the rent for the last two months? So essentially paying 4 months

Starting the conversation about buying my grandparents home in the mountains. They own all their assets outright and will probably remain in the property for another year or two. My rental properties kick off enough cash to cover buying their place now while they still live in it and floating the extra cost for a few years. After they leave it will become a STR that will cash flow nicely and I can refinance it for a decent cashout.

Option 1 is get a conventional mortgage and charge them rent to cover the monthly cost however long they stay there. I can give them a higher purchase price if they will cover the monthly cost for the next few years. They get the tax free gain in the meantime to live off of. Getting a 7.5% rate with buying points at 80% LTV. Most likely they would sell to me at the 60% value mark so maybe the rate gets better.

Option 2 is do a seller finance option where we work out terms for a few years at a cheap monthly payment and do a balloon payment at the end when they are ready to move out. My question here is about the tax implications. If they seller finance for 3 or 4 years and then take a balloon payment does it still qualify for tax free primary residence status?

Option 3 I rent it from them for a couple years at a cheap monthly rate and then buy at a reduced price later on since a primary residence you only have to live in 2 of the last 5 years. 

Open to any other scenarios people may have here. Looking to give them money now and secure the asset without doing any wills that could be argued later on in court. 

Hi, I'm a high schooler, interested in the real estate market. I have been listening to the BiggerPockets podcast and reading through the forums. I have just a few questions. Is there a book or website for beginners interested in real estate? How do I best learn about the basics of real estate? What is the best way to start my portfolio? 

I do love the idea of owning for a while and creating a trail of paid down rentals instead of selling outright, but the wild card is a wife and kids. School districts, physical moves, and spouse approval all have substantial weight in such a strategy. If I was single and flexible; I would be using a house hack or own and move/rent strategy for sure at least while building the business. However personally I don’t think that either of those scenarios are in the cards for me. More options for those single individuals or flexible families though!

Hello all, very interested beginner here. I’ve started self educating on real estate investing with the goal to take action later this year or beginning of 2024. Specifically looking in the state of Wisconsin (Madison and/or Green Bay markets). However my questions apply to a more over arching strategy in addition to regional nuance. 

Q. If your ultimate goal in REI is a specific cash flow per month (example $5,000, $10,000, or $20,000), then what are your thoughts on ways to get there in the shortest amount of time if you were to reverse engineer the units/rentals needed to generate that cash flow per month? (example: should you strategize acquiring 50 single family rentals at cash flow of $200 vs multi family homes vs apartment complex etc, where you could theoretically jump right into multiples higher cash flow) Are there other factors besides the relationship to size/number of units, up front cost of acquisition, and cash flow that would be a necessary factor in acquisition of any of these solutions if they "theoretically" presented the shortest path to the desired amount of cash flow per month?

(Also understanding property management either self or outsourced would need to be accounted for in addition to many other expenses)

Lastly, is there a known “generally universal” pattern to the difficulty of acquisition of any of those types of investments vs the other (other than amount of money). Example, 50 unit apartment complex might be fastest solution, but in your area there are tons of legal road blocks or competition, so for “fill in the blank reason”, it would actually be quicker to acquire 50 individual rental homes despite the slower potential total cash flow acquisition.

Hopefully that all makes sense or at least paints a relatable picture as to insight I am hoping to gain that others may be curious about as well just starting out!

-Dustin