All Forum Posts by: Michael Storch

@Jaron Walling

Thank you for your thoughts! I am actually on a similar line of thinking where I can get exposure to rehabbing on my own time and dime, but it would be harder if I try living with people I don't know very well. My partner says she's open to coming by and helping sometimes, but I do not think she'll be around for anything big (floors, replacing bathrooms, etc.)

I also appreciate the advice on the contractor side. I have dealt with troublesome contractors on jobs where I worked as a forensic engineer for 1.5 years, so I get the importance of finding the right one, hence my desire to start all of this learning and figuring things out before I actually need to move down there. 

@Jeff Schemmel 

Thank you for the thoughtful response! I am thinking in the "either or" mindset because from the book and the podcasts, BP people always seem to be advocating for choosing one strategy and mastering it before doing too many different things at once. 

Something I should have clarified in my post is that my partner and I are not going to be living together for about 1-2 year; I am moving down to be closer to her as she goes to school. We have discussed your questions in length: when we finally move in together she does not want to be living with other people but until then, I am going to do whatever makes the most financial sense on my end. 

I have a lot of family that have been landlords for most of their lives that I have been talking with and I am definitely open to being a landlord myself, plus I do not have a problem with living with other people in my place. Overall, she is just worried that I am going to bite off more than I can chew and spend every night/weekend working on the place and having no social life, which is what someone else in her family is doing right now. 

I am also in the process of talking with a realtor in the area, which should help me out soon, but I am open to chatting! 

Hello All,

This is my first post on BP and it comes after I just finished  reading  "How to Invest in Real Estate" by Josh and Brandon. I have narrowed down my potential real estate interests to either house hacking or live-n-flips in the Raleigh-Durham area in North Carolina. This will be my first go around in real estate and I am very much in the learning phase of the journey right now. 

I am 23, and I am going to be moving to the area in early 2023 after I finish my graduate education at UMich to be closer to my partner that is starting at UNC. I have been doing a decent amount of research about both strategies but my partner is concerned that I will end up spending all of my time outside of my W-2 fixing the house for the live-n-flip strategy. For the house hacking I am just having a hard time finding deals in the area due to a seemingly limited supply which is why I am leaning towards live-n-flips. I wanted to know if people have stories or advice or knowledge about doing successful Live-n-Flips without it consuming your life?

More specific questions like how long does it take to rehab certain parts of a home? How much work should I do myself versus hiring someone else? How should I find deals for live-n-flips? Etc. 

I really appreciate the help in advance!