All Forum Posts by: Kody Thompson

House hack with a FHA loan is probably the best way to get into investing. You can also look at wholesaling to learn the market, what makes a good property and what contracts look like.

Find a new lender! Dont waste time with people who dont value your time. Also look into seller financing.

Set up a Wyoming LLC that you all have equity in. Set up your state LLC and in the operating agreement show the percentage of the company each will have based on the loan amount and amount brought to the table. You may also need to find an investor friendly title company to help you with all the Co-Signers. I did one a few years back with an inexperienced title company and it sucked bad haha

No! Investments must Cashflow otherwise it becomes a liability. Look into refinancing for a lower payment to see if it cashflows or if you can add a mother-in-law or garage ADU to make it cashflow.

As a business owner I use Medi-Share. Its a Christian Health Sharing Service, Not technically Insurance but still pretty good rates and deductibles.

Personally Id just wait another year and then do it again, Once you move and get the additional income from the original then go ahead and do the heloc 6-12 months after to get your third property. Rinse and Repeat. Great Job by the Way!

Wholesaling can be a good gig if you do it right. Wholesalers get a bad rap and are known as bottomfeeders in many markets because of some of the unprofessional tactics and sales approaches so if you can be the best at it you can make a lot of money!

Hey Salvador, I would look at adding multiple streams of income to your portfolio so if by some chance you do end up loosing your job you have a back up job or business you have started in place. Before investing In real estate you should have at least 6 months finances saved up so if you are not there yet dont get discouraged just keep grinding!

Doing Renos while a family is living there would be a bit hard. I would find out when they plan to move out as they are on a month to month lease and then schedule the work at that time. 

Best of luck to you!

Bigger Pockets Calculators are my go to once the deal passes the initial 1% rule test!