All Forum Posts by: Kenny Smith

@Ivan Calais Coelho

Make sure you talk to your insurance company to get a "landlord policy" and max out the liability coverage..typically it's $1mil.

@Ali Clark

Also, depending on what house hacking strategy you are going to be using, make sure the HOA allows for it. Many HOA's frown upon STR's, have maximum occupancy per unit, etc.

@Venkata Ede

Are you going to be taking out an owner occupied loan and living there?  If you are, see if you can live for free, and then you'd cash flow when you moved out.  You'll also want to look at your cash on cash return as well (how long to get back your money you invest).  You can also take a look at your net worth return on investment which also includes loan pay down and equity growth.

Also, make sure to look at the municipality's max occupancy for unrelated individuals in the household.  Some are more strict than others.

Good luck!

@Tyrek Brown

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! 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!

Good Luck,

Kenny

@Darrell Degrazia

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! 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!

Good Luck,

Kenny

@Garrett Hay

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! 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!

Good Luck,

Kenny

@Brad Hunton

Great strategy! As we scale our portfolio, we intend to switch some of our STR's to MTR's to take advantage of this growing segment, and have our rentals become more passive.

I think it all depends on what your strategy will be.  Do you live near a hospital?  If so, your niche will likely be traveling nurses.  If you were to do rent by the room, I think most traveling nurses are going to be younger and single (mostly), so I don't think it would affect a 4/2 or 2/1 as much as if you catered to other MTR professionals.  If traveling nurses aren't going to be the bulk of your business, I'd recommend doing a 2/1 then.  People in other fields may not want to room with other folks, and they certainly don't need a 4 bed house if it is only 1 or 2 people or willing to pay for a bigger place.  

Good luck, and keep us posted on how it goes!

@Garrett Lewis

100%.  At least in my market, the thought is, if rates do continue to drop, prices will most likely start going back up when the sideline buyers get active again.  OR, you could buy now, get a good deal on a home, deal with the higher rates for the time being, and re-finance when rates drop.

Can't change the price of your home, but you can change the rate!

@josh

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! 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!

Good Luck,

Kenny

@Josh Zebundefined

@David Wood

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! 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!

Good Luck,

Kenny