All Forum Posts by: Julian Maso

@Carlos Villalobos Thanks for the reply Carlos and thank you for welcoming me! I definitely need to learn much more before making my first purchase, which will inevitably give me more time to stack up some savings. Thank you for the tips, have a wonderful day!

-Julian

@Roy Gamiz Thanks for the reply Roy, and congratulations on the newcomer kiddo! That is awesome that you are investing in the Baylor bubble already. I really do want to try house hacking as it would reduce my cost of living immensely. I was recently looking at properties to potentially purchase but couldn't find any deals that seemed worth it unfortunately. I guess another fear of mine is that during this pandemic, if i buy a property, would it even be likely that I would find renters. Another thought in my mind was timing with respect to college school years, as many students (as i was once this person) procrastinate in terms of finding a suitable place to live. I will definitely be in touch when looking more in depth into purchasing a property if I am able to find one that checks all of my boxes. Thanks again for the connection and your advise, have a wonderful day!

@Brian Kim Small world! Do you mind if I send a connection request?

I’m interested as well! I’m from Waco, Texas, not too terribly far from San Antonio. I think this would be a wonderful learning experience and opportunity.

Thanks for the suggestion! I will definitely add that to my list. Have a wonderful day!

-Julian

I am a Mechanical Engineer who just graduated and was fortunate enough to find a job and start my career apart of the work force. Although I am "good at math" and find the content very interesting, shortly after starting, i realized that i would prefer to not work a 9-5 until I'm 65, so that's when i turned to wealth building strategies. At the moment i am learning as much as I can while saving money to be able to invest properly and efficiently. Luckily, my family is into the commercial real estate space so I have been slightly exposed to this kind of stuff throughout my life. This also helped me realize that all those times that i was asking my father about the business, I was genuinely interested in the content that he was dumping into my brain, it just took me a while to realize it.

In my opinion, and I am just generalizing here, more difficult academic paths in college teach more than just content. These courses teach discipline, time management, and teach-ability. These are great qualities to have in any career path that you are pursuing. However, with any piece of education material, i strongly believe that you have to be truly interested in the content to absorb the majority of it. The realization that i came to in life is that the majority of people don't really get jobs pertaining specifically to their college degrees, although like i said above, it teaches certain qualities that can be applicable and beneficial in other areas of work.

Have a wonderful day!

-Julian 

I was curious if anyone had some suggestions for books to read. I have compiled a current list of books that I have on my to-read list at the moment, which include:

4-hour work week - Timothy Ferris

Rich Dad Poor Dad - Robert Kiyosaki

The Millionaire Next Door - Thomas J. Stanley

The Book on Rental Property Investing - Brandon Turner (Currently reading)

Although I enjoy reading primarily about real estate and personal finances which give me different perspectives every time i read a new one, I am open to any book you throw my way. Any suggestions are welcome!

-Julian

I was just curious as to what the best method to find a viable partner, lets say.... across the country. Unfortunately, i live in a sort of slummy area where prices of houses do not match the socioeconomic status of the city (at least the part that i live in). I live in Waco, Texas by the way. From Dallas originally, so i would definitely be open to doing a long distance investment partnership and hire out management companies for the monthly updates on the status of my property. Also, this would diminish the amount of time that i have to spend traveling to wherever the property is (ideally).

I have a full time job and a decent amount of responsibilities here where i live every week, so i naturally gravitated toward seeking a partnership with someone. My only issue is that i am hesitant to do so in fear that everyone will laugh in my face. Im 22, ambitious, and believe i am passionate about learning while excelling on my real estate investment journey, but it seems like that will not be enough for some people.

I know that BiggerPockets is a great place to connect, and i have seen that already. I guess my main curiosities lie in how a partnership "plays out"? For example, what percent of money from either side of the partnership is put in, and how does that translate to split of prophets if the work load between the two are different? To supplement this question, what if you are partnering with someone who has more capital/resources/expertise/real estate skills than you, what would make them want to partner with me? I assume it would always be dependent to the individual deal that you agree upon, but is there a general structure that people tend to follow or already know when engaging in these types of investment partnerships? Any comments and suggestions are welcome, I'm here to learn!

-Julian

@Joanne Tsai I think it would be possible to negotiate to a certain degree, the only issue is that there is an identical house for sale right next door for sale by different realtors so I'm not sure if they would dip too much just so they can stay competitive. I will definitely keep looking though, thank you for all of the insight and tips! Have a wonderful day! Would you mind if I connected with you?

-Julian Maso

Thanks for the reply Joanne! The market rent for the average bedroom is close to 400-750 per room here around the college. 

I actually just got off the phone with an agent who is listing an IDENTICAL property right next door. 359,000, same exact floor layout. Both units are rented out for the next 6 months. The rents are atrocious from what I've heard, 975/mo for one unit and 1400/mo for the other. This would make it a bad investment as i would be receiving negative cash flow, which I'm starting to think that this deal is not so great. The 1800 is viable in my mind for 4 students to pay, because for all 4 years i was going to school i was paying about 575 for a TERRIBLE apartment per month (for just my room, 1150 for the entire apartment, 2 bed2bath) 

Also the 1800 rent level per month is pretty much the only way i can make the numbers work with this property. Thank you for the insight, i think it might be time to start looking into other houses!

-Julian