All Forum Posts by: Mariah Destruel

Hello!

My mom and I are working together in our real estate investing journey and we're beyond excited. We've bought 2 mobile homes and they should be fixed up by the end of this weekend (a whole other experience learning to work with contractors). Anyway, we're wanting to help people own their own homes, but we're getting a lot of mixed messages.

For context, we're located in Texas. I've heard that "seller-financing" and "lease to own" is illegal, but "owner financing" is okay. Then I also hear that you can't do it at all, but I hear of people doing it all the time. I'm very confused. Any guidance would be very helpful! We have an interested tenant and he doesn't have enough to buy the home, but he'd like to own it and live by his veteran friends. We really want to help him. We could go the renting route, but he'd prefer to own it after a few years. What is actually legal to do? And, any guidance on what contract we should refer to or use would be VERY helpful. 

Thank you in advance for your insight!

Hey there!

I am wanting to take advantage of the first time home buyer programs offered with a low down payment. I plan to live there for a year and then start renting out the place. I'm trying to stay completely unemotional and just look at the numbers since I will only be living there temporarily.

I found a small one bedroom in downtown Denver for a price that I can afford, but it seems the rental rate and the mortgage will break even.I hear multiple thoughts that if it's a good location, the rents will go up, so as long as it breaks even it's okay. But I also hear that it should be positive due to cap ex. I do plan to hold this property long term too.

Any advice is great appreciated as this is my first deal!

@Tyler Gibson

This is super helpful information! I really appreciate your response. I think waiting and accumulating cash from savings and the rents is wise. 

Hi everyone!

I am looking to buy my first house and start this path into real estate investing! The house I found is located in a family neighborhood and is walking distance from schools and outdoor parks. It seems to be a safe investment in that I feel confident that vacancy won't be an issue and I don't feel rent will be affected much by market changes. Since it's my first house, I'm wanting to do a conventional loan with 3% down. The house definitely needs some upgrades on the interior and some cosmetic fixes too. After a year of living there, I will move out and rent out the full property. I plan on house hacking by renting out 1 or 2 of the other rooms while I'm there.

Anyway, my question is regarding the BRRRR method. Should I upgrade the property from the get-go, refinance it, and take out money to invest in another property? Can you do that if you have to live there for a year? Should I wait until I'm ready to move out to upgrade the property? I'm new to the industry, so my questions may seem naive, but definitely in need of some guidance.

Thank you!

Thank you @Greg Scott!

Hi everyone,

I was doing some research today (I'm very new to the industry) and read an interesting article about iBuying. I was curious to see what everyone's thoughts were with more experience in the industry. Click here for link to article. Is this something to worry about? How do you foresee this impacting people within the industry?

@James Wise

Thank you for your input. Yeah, I've decided to go ahead and pursue the license. It seems to be a no-brainer!

Thank you so much for all of the advice and input, it has helped a ton! 

@Vance Courtney @Dennis Cosgrave @Bill Plymouth

@Vance Courtney - I thought about getting the license to leverage my sales skills to generate some side income for investing. I also figured it'd be a great way to learn more about the industry through experience and have access to tools that I otherwise wouldn't have access to.

Hi everyone :)

I am new to bigger pockets and can't express how excited I am to embark on this journey of real estate investing. My friend recommended I join this site and use all the amazing tools and resources it has to offer - so here I am today. 

I've been contemplating getting my real estate license. I have a full-time job that I plan to keep until this proves lucrative enough to pursue full-time. I figure it'd be a great way to learn more about the industry and also close some deals on the side for extra income to invest (my career is sales, so I figure the skills would transfer well). I've heard some people say I should stay away from getting the license due to higher liability or a stigma with buyers/sellers not wanting to work with an agent, while I've read others saying it's great to have due to the access to valuable resources.

What do y'all think or advise? Thank you for your reply!