All Forum Posts by: Kenny Smith

@Jack Rhode

First off, Welcome to BiggerPockets! You have hit the JACKPOT of resources for real estate investors. You can literally find answers to all of your questions within the confines of this site.  A few beginner tips to get started on here..

1. Subscribe to the BiggerPockets Money and Rookie Podcasts

2. Attend the FREE WEBINARS

3. Attend a Meetup in your area/virtual meet ups

4. Purchase the Beginner Books: How to Invest in Real Estate, Set for Life, The House Hacking Strategy

5. Peruse the forums, ask questions, and answer questions.

If it was me, I would 100% leverage someone else's money and do a house hack!  125k is a great amount of money to get started.  Whether that was a single family home or small multifamily, I think you can build your portfolio quickly with low money down that way.  Plus, the benefit is you aren't over extending your money in case something does go wrong on your first deal.  You'll learn a great deal with those first few properties, and can always build from there!

I have not gotten into large multi-family yet, so I cannot speak to it.  In my opinion though, you need to take baby steps in the beginning.  Make the mistakes in the smaller deals, where you don't have as much money on the line.  You don't want to make those mistakes on larger deals, because that can cost you a whole lot of money.  Don't want to leave a bad taste in your mouth on your first deal!

Whatever direction you head, just make sure to get your core 4 locked down.  Contractor, Real Estate Agent, Lender, and Property Manager..and I'm sure you'll do fine.

Best of luck!

@Ty Kuntz

Welcome to BiggerPockets! You have hit the JACKPOT of resources for real estate investors. You can literally find answers to all of your questions within the confines of this site. What’s the best way to get started using BiggerPockets?

1. Subscribe to the BiggerPockets Money and Rookie Podcasts

2. Attend the FREE WEBINARS

3. Attend a Meetup in your area/virtual meet ups

4. Purchase the Beginner Books: How to Invest in Real Estate, Set for Life, The House Hacking Strategy

5. Peruse the forums, ask questions, and answer questions.

Best of Luck!

Kenny

@Sara C.

Sorry to hear things aren't working out.  If it were me, I'd take a close look at what strategy I am trying to implement and what are the reasons it is not working.  From there, start comparing that to other strategies available to you in your area and if putting more money into the property to make it work would make sense.  You need to figure out what your cash on cash return is and your net worth return on investment is.  From there, you can fairly easily figure out if it makes sense to hold on to the property vs selling it.

Best of luck!

 I've only read the house hacking strategy by Craig Curelop (biggerpockets book), its a great one!

@Bruce E Meyers

Welcome to BiggerPockets! You have hit the JACKPOT of resources for real estate investors. You can literally find answers to all of your questions within the confines of this site. What’s the best way to get started using BiggerPockets?

1. Subscribe to the BiggerPockets Money and Rookie Podcasts

2. Attend the FREE WEBINARS

3. Attend a Meetup in your area/virtual meet ups

4. Purchase the Beginner Books: How to Invest in Real Estate, Set for Life, The House Hacking Strategy

5. Peruse the forums, ask questions, and answer questions.

Best of Luck!

Kenny

@Candice Ravin Woodfin

Welcome to BiggerPockets! You have hit the JACKPOT of resources for real estate investors. You can literally find answers to all of your questions within the confines of this site. What’s the best way to get started using BiggerPockets?

1. Subscribe to the BiggerPockets Money and Rookie Podcasts

2. Attend the FREE WEBINARS

3. Attend a Meetup in your area/virtual meet ups

4. Purchase the Beginner Books: How to Invest in Real Estate, Set for Life, The House Hacking Strategy

5. Peruse the forums, ask questions, and answer questions. If you are consistent with learning real estate over the next 4-6 months, you’ll be ready to purchase your first (or next) property in no time.

Best of Luck!

Kenny

@Mitchell Zischke

Welcome to BiggerPockets! You have hit the JACKPOT of resources for real estate investors. You can literally find answers to all of your questions within the confines of this site. What’s the best way to get started using BiggerPockets?

1. Subscribe to the BiggerPockets Money and Rookie Podcasts

2. Attend the FREE WEBINARS

3. Attend a Meetup in your area/virtual meet ups

4. Purchase the Beginner Books: How to Invest in Real Estate, Set for Life, The House Hacking Strategy

5. Peruse the forums, ask questions, and answer questions. If you are consistent with learning real estate over the next 4-6 months, you’ll be ready to purchase your first (or next) property in no time.

Best of Luck!

Kenny

@Wendy Vigeant

I'd also chat with someone locally.  Whether that is a fellow investor in the area or an agent, great to see data on everything, but talking with someone locally would be highly advisable.  Nothing beats a real person!

Best of luck.

also figuring out how passive you want your investment to be. If self managing, STR's are way more involved, but higher return.

Thanks for posting!

@Kevin Smith

They said it is because of a court case held in Texas and Louisiana that determined requiring an STR to only be allowed in an owner occupied home is unconstitutional. Not sure if they'll allow me to input links here, but google STR Texas/Louisiana Fifth circuit court of appeals. It is a huge win for STR rights in the US. The thought is most municipalities now don't want to get sued by having this regulation in place. These officials stated even Denver could lift the owner occupied required in the coming year.