All Forum Posts by: Leo Semenov

@Brendon Kerrigan

I used the home depots Lifeproof in my house hack and i love it. Good quality!

I'm doing my first house hack/investment property right now. So, big thanks to everyone for your advice and suggestions. With such a great community, I know I have a someone to go to with a question!

Congrats Adam Gott!!

How did you finance those properties, if you don't mind? 

Congratulations Axel!! At the pace you're going, you'll definitely reach 100 doors before you're 27. I'm 27 and I'm just starting REI.

@Thomas Franklin, you have a very good point. As Werren Buffett said that his partner says, all Werren wants to know is where he will die so that he won't go there. So, I agree 100% that I need to weigh the costs and benefits and know the risks. 

@Robbie Ruetzel,

So, my question was do you know a way to minimize the risk of a professional tenant suing the pants off of me or the bank calling the mortgage due when going the FHA route?

Thank you fellows for all the insight! 

Hey @Noelle Yarn, 

I too was wondering how and when it's best to use HML. Have you checked out any of the HMLs on BP?

@Indra H. Thanks for the welcome. And thanks for offering to help. 

One thing with what I need help is finding local REI meetups. I would like to network in person too.

Thanks Indra!

@Thomas Franklin, thank you very much for this very detailed heads up! I appreciate you taking the time and explaining this risk to me. I totally agree with you that house hacking under personal name even for a year is too risky. Motivated seller and seller financing is one of the best routes. I'll try to take this path. Thomas, would you recommend to start a yellow letter campaign?

My other challenge is that I'm new to my area. Just last year, I moved up here from Jax, FL. But I'm glad I found BP!

Thanks again Thomas!

@Robbie Reutzel thank you for your input. Robbie, let me see if I understood you correctly. So you are saying that it is possible to buy a duplex with a FHA mortgage, start living in one side and renting the other and have something in place to greatly limit the risk?

Thank you Robbie for your advice!

Hey everyone!

My name is Leo Semenov. I'm a new investor in Springfield, MA area. I am in retail management. After reading Rich Dad Poor Dad right out of high school, an interest and inclenation toward REI was born in me. I just never real knew where to start until I stumbled into BP on YouTube.

Right now, I'm trying get everything into place to start REI with a house hack. My goal is to own 15 rental units mortgage free. I plan on reaching my goal by flipping, wholesaling, and wholetailing.

I have general construction knowledge from having different construction jobs and general REI knowledge which I learned mostly on BP. Big thanks BP!

Thanks to everyone, I appreciate you all. 

Leo

Welcome to biggerpockets Joy!! I wish you the best in your venture. You should do well because Jacksonville is a pretty good market. It has been about a year since I moved up to MA. How is the housing market in Jax? From up here, it seems like the prices in a lot of areas are reaching 07 08 levels.