All Forum Posts by: Kyle Marek

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*This link comes directly from our calculators, based on information input by the member who posted.

Grass Valley, CA. My first deal using the calculator. Please point out any mistakes! Thank you.

@Stephanie Medellin Thanks for your insight! The GNND program seems great for building quick equity as you mentioned, but I don't really like the 3 year OO requirement. The revitalization area requirement also makes me think it might not be for me.

Have you had any experience with Landed? It helps teachers as well, I've just signed up and plan to find out what it's all about. I haven't been able to find reviews or any forum info on the program though.

@Casey Murray Love the idea of the 203k loan to buy a property that needs work! But thank you, I'm learning that not all rules apply to all markets. I should learn my market inside and out to see what rules do and don't apply.  Will definitely check out e278, sounds like exactly what I'm looking for. Thanks for your time Casey!

@Jana Cain

I most certainly will!

I'm 25, a teacher with no debt and a some money saved up. I plan on saving money another year because I am lucky enough to be living rent free for now, and my goal is to have a good credit score so I can purchase a multifamily. My problem is I have had limited credit history.

I have had a credit card with a $3000 limit that I use occasionally to fund bigger purchases, but that's about it. I've done research and read the fastest way to build good credit is by paying installment loans on time. Only problem is, I don't have any of these!

What can I do in the next year to build credit as well as possible without having installment loans to help me?

Thanks for your time!

@Casey Murray

If there's one thing I've learned on BP, its that you make money based on your purchase price. I plan to get very familiarized with market rents in SD. I'm interested in multifamilies, but not sure how possible it is to find a cash flowing one based on comments here. Sounds like a good bet to find one that needs renovation? Maybe use the 203k lone? Still learning so any info/suggestions mean a lot!

@Cody L.

@Ryan Blake

Did the research, and it seems you are right Cody. Most SD cities have been revolting against STRs for years, and the city counsel decided to ban vacation rentals except for in primary homes. Seems like this would sort of kill the future possibility of STRs?

I'm more interested in rentals anyways because of the longer leases, consistency, and less tenant turnover. But thanks for the heads up, Cody.

@Jana Cain

I sort of had the same assumption from checking out the way it works on Landed's website. I'll definitely look into the full lending contract to see if it would work for me. Really appreciate the reference!

@Casey Murray

Thanks! I know they are amazing, definitely my main draw to the San Diego area.

I see you've had some experience in multifamily properties in SD. I'm very interested in multifamily properties. I like the idea of living in one unit and renting out to tenants who will be my neighbors.

How has your multifamily experience been in SD? I'm curious how affordable and abundant they are as well

@Amber Smith

Hi Amber, thought I'd use this forum as a platform to take you up on your offer to message you about questions! 

I'm a 25 year old teacher in the Bay Area. I've long been interested in real estate, specifically rental properties. I've completed a 135 hour salesperson real estate course. but real estate investing has since captivated me much more than working as an agent ever has. 

My original plan was to work part time as an agent after getting my license, and hopefully network, make connections, get investment advice from professionals, and have access to the MLS.

This sentence from your post really caught my attention: "I think you’d be just as well off continuing to save, buy properties 1 at a time & learn as much as you can about rentals, single family, multi units, etc.".

I'm not doubting whether getting my real estate license is worth it after the MLS fees and the fact that I am not chomping at the bit to sit at a desk and make calls for hours. I like to be active and interactive with people! I've been reading a bunch and listening to podcasts on BP, and it seems to maybe be enough of a resource itself.

Any further advice about whether getting the license is worth it would be great!