All Forum Posts by: Lanre Akande
Lanre Akande has started 2 posts and replied 8 times.
Quote from @Jonathan Greene:
I think you are set up well to do a combo of what you said. Don't jump too early and start connecting with other investors in the area and meet other people who have house hacked near you. When you hear about their experience as a house hacker and baby landlord, you will know whether it makes sense or not. In general, it could be smart if you have 4-5 years there. You can get appreciation and equity and learn about being a landlord.
Hello, everyone, I am currently a graduate student in the St. Louis area and am looking to start my real estate investment journey. My current income is sufficient enough to cover my living expenses, live comfortably, and put a portion toward savings each month. The rent for my current apartment, though, is roughly similar to single family homes in the area. So, I was wondering if it would be smarter to use the time I have on this current rental lease to start looking for a small multifamily property to buy and house hack (with an FHA loan).
However, when my program ends in roughly 4 to 5 years, I plan on moving back in with my parents (in the Dallas-Fort Worth area) and saving to buy my own place. Should I spend these next few years connecting with investors in the St. Louis area and gaining experience from them before beginning my own real estate portfolio when I move back home or should I start by house hacking while I am still living in MO? Also, if I were to start while in school, are there any preferred areas in St. Louis and the surrounding cities that I should start looking into? I have done general searches for the surrounding cities before, but I am relatively new to the area (as opposed to me having lived in the DFW area for over 2 decades and having particular areas I plan on investing in).
Post: Graduate Student Interested in Real Estate
- Posts 8
- Votes 2
Quote from @Michael Smythe:
Check out Facebook for local online groups and MeetUp for in-person.
Thanks, Michael!
Post: Graduate Student Interested in Real Estate
- Posts 8
- Votes 2
Quote from @Zachary Ware:
Welcome to BiggerPockets! FHA is a great way to get into the game. Please feel free to reach out anytime if you want to talk about financing, multifamily, or investing in general.
Thank you very much, Zachary!
Post: Graduate Student Interested in Real Estate
- Posts 8
- Votes 2
Quote from @Wale Lawal:
@Lanre Akande You are definitely in the right place.
You can Househack with as little as 3.5% Downpayment. Make sure to remind your lender about the FHA Self-sufficiency rules and guidelines IF you are going FHA route. Other than that you will be fine.
Goodluck and keep us posted on your Real Estate Investing Journey.
Thank you very much, Wale! I will be sure to do that and keep everyone updated.
Post: Graduate Student Interested in Real Estate
- Posts 8
- Votes 2
Quote from @Noah Laker:
Welcome to the community, Lanre. I just turned 24 and I've been full time in real estate and property management since 19. My partner and I manage over 100 STR / Airbnb properties and I'm a licensed broker in California.
Use me as a resource any time, especially for STR related questions. Good luck man!
Post: Graduate Student Interested in Real Estate
- Posts 8
- Votes 2
Quote from @Jimmy Bostic:
@Lanre Akande that's awesome man! I think house hacking would be a great point of entry for you into REI. You should consider hacking a multifamily and rent out the other doors so you wouldn't need "roommates" like you would with a singlefamily, plus you'd get better returns.
I'd advise absorbing as much as you can through mentors, books/videos, and the BP community. Goodluck!
Thanks Jimmy! I am looking forward to expanding my knowledge through various sources!
Post: Graduate Student Interested in Real Estate
- Posts 8
- Votes 2
Hello, everyone! My name is Lanre and I am new to the BiggerPockets website. I will be moving to the St. Louis, MO region in the near future and am looking for investors with experience in house hacking or small multifamily rentals that I can learn from in the area. Thank you in advance and happy investing!