All Forum Posts by: Lisa Hines

 That's a very interesting idea, Gabriel. I don't have the foggiest but I'm putting it on my list to research one of these days. Thanks!

 Thanks for the input, Mike! Much obliged. 

 Thank you for this information. It is very helpful. I may need to rethink my plans. Unfortunately, the roommate route is am impossibility for me at the moment. 

I've driven through the area to work and seen a few places that had two doors in the front. However, I was driving and trying not to rear end the person in front of me :-) Is it possible there are some but they just don't come to market often?

I'm looking to house hack in Maryland but none of the listings I'm getting in my target area are multis. There are some places that have in-law suites but with the prices around here, having two rents would be a huge plus and worth a lot of effort to me. Maybe someone has a suggestion for a good place to drive around? Unfortunately, Baltimore and DC are not viable places for me to commute from. Ideally, I'd like to live around the area of where 95 and 200 intersect. Any suggestions?

I feel like there are some assumptions being made. I never mentioned anything about a time table that would indicate I assume a get rich quick time table. The shorter time frame comment was in reference to being able to loan my money out again after a number of months in hard money lending as opposed to years in private lending. That is assuming I am only able to make one or two loans at a time in the beginning. 

I understand that I have to interact with people but dealing with tenants is a bit different than dealing with individuals you have ongoing professional relationships with. There is a reason there is a whole section on the forum about dealing with tenants, is there not? 

I am not a people person so being a landlord could be a means to acquire enough capital to get into lending. How much money does one approximately need to acquire to start lending? I assume hard money lending would be the best considering there are shorter time frames your money is occupied. 

Very interesting! Can't wait to hear what happens next. 

Solar panels or windmills. 

I would encourage a 20 year old not to quit their job before they start their business. It's hard to believe an above average savings at 20 is enough to live on and use to put down payments on houses and pay mortgage, bills, etc. Living solely off your business is going to hamper the exponential growth that your money is capable of. Live off your income for the next 5-7 years and never touch your investment money unless it's to roll into another investment. 

Have you spoken to your attorney about this? I've heard of attorneys handling the whole conversion to the LLC.