All Forum Posts by: Mitchell Marvin

@Nikolai Saporoschetz

Hey Nikolai, I'm from Brighton and I haven't seen many small multi's that make sense for cash flow if that's what you meant by househacking. I just bought a 4 bedroom househack in East Lansing as a fixer and rent by the room to college students. That might be something worth looking into in Ann Arbor for U of M students. But if small multi is what you meant by househack, Ypsilanti might work. Just make sure to do some research on the neighborhood because oftentimes higher cash flow might mean higher crime or more deferred maintenance expenses. 

HI Brandon, if the seller accepts, I think it would be a great way to get into a property with little money down. Just make sure that the numbers work (more than just 10% below market value) and make sure you have reserves saved up in case the property doesn't appraise high enough for the refi. As far as structuring the agreement, get a good real estate attorney to make up a contract to protect both you and the seller, it shouldn't be more than a few hundred bucks. 

Lastly I just want to recommend not getting emotionally attached to the property and stick to the numbers. If you can't come to an agreement that works for both of you, just list it and earn the commission. 

I hope this helps! Best of luck to you! 

@Kelly Claiborne

For me, It's mostly lack of knowledge and fear. I'm looking to house-hack my first property to get some experience, but in my market, inventory levels are low at the moment and the percentage of renters is considerably lower than surrounding markets. Also, the 1% rule is super difficult to find which worries me. Because of that, I've looked into another market where I went to school in the Fall which I'd be more comfortable investing in. So right now I'm on the fence as to whether I should keep looking to house-hack in my market or save up for a BRRRR deal in the other market I've looked in to.

Hello BP Community!

I'm currently working on getting my license and I would like to be able to set up automatic e-mail alerts for investors looking in a specific area, price range, and property type. I've been looking around on the internet and I can't figure it out. Is it something done by a CRM, or Zillow, or something in the MLS? I'm sure many other agents are doing this, but it seems like a good way to connect with investors by bringing some value to the table. Thanks to everyone in advance! Feel free to connect with me about anything real-estate related!

Hey John, I'm in a very similar situation. I'm finishing up my freshman year of college, but I wan to be a real estate agent. Originally I chose to go to college to play baseball and figure out what I want to do with my life, but for the past 8 months or so I've been actively learning as much as I can about becoming an agent and investor. And so, recently I jumped into a licensing course so that I can start my career, but I'm still on the fence if I want to continue college and baseball or not. My advice to you would be to learn as much as you can about real estate and other career opportunities and then pick something that you feel inspired by. And remember life is like a marathon, not a sprint. We have time to do the things we're inspired by. There's no need to rush.