All Forum Posts by: Nicholas L.

@Justin Dalton

can you do a live in flip

@Kyler Wright

can you start with a house hack instead?

@Niranjan P Ghate

yes, trying to math your way to something is the wrong way to do it.  that will take you to an OOS market you don't know anything about, thousands of miles away, where you'll be sold a property that looks great on paper and then loses you money every month.

you need to pick a market that is a couple hours away, or in a market where you have family, or a place you'd like to live someday, and build a network there.  otherwise, you'll end up like these folks.

Sell at a loss or rent at a loss

https://www.biggerpockets.com/forums/963/topics/1195280-expe...

https://www.biggerpockets.com/forums/48/topics/1160450-run-i...

https://www.biggerpockets.com/forums/48/topics/1137397-balti...

https://www.biggerpockets.com/forums/52/topics/1010977-12-00...

@Jacob Cannon

-go to meetups and network in person.  if you have the time, drive up to the ones in northern Virginia.  some will be pitchfests, and some will not.  go to the pitchfests.  do not buy anything.  use them as a networking session to network for free with other attendees.

-house hack as many times in a row as you can stand.  imagine if you house hacked every 2 years for 10 years.  you could have 5-15 properties just by using your housing payment.

-start your own mastermind with other Jacob Cannons in Richmond.  form a househacking mastermind.  discuss househacking.  share tips on househacking.  encourage each other to househack.

good luck

@Courtney Bowen

start with a house hack

House Hacking: What Is It, How to Start, and Strategies for Success

good luck

@Bruce Woodruff

good post, concise statements!  I think I agree with... some to most of it?

"everyone else needs the USA more than we need them" - I have no idea how to validate that.  maybe it is true.  how would you measure it?

I think the US is a more desirable place to live and do business than much of the rest of the world.

to your point 5, I do think there is a job shortage that is likely to persist... but i don't know if it's in the most exciting of fields.  for example, i believe we will need hundreds of thousands or potentially even millions of home health care aides.

the people telling us that AI is going to AI everything are the people selling AI.

@Jack OMalley

start with a house hack

talk to lenders about programs that may be available

all things being equal, I'd put less down to start and keep your cash for other uses

good luck

@Hunter B.

OK - good update.  not sure I agree with your conclusion though.  if you want to buy an on-market property, make an offer - the listing agent would then present it to the seller, and they would either accept, reject, or counter.  if you're trying to find a good buyers agent, i would find out who other investors are working with.

'budget' should not make it difficult to get an agent on the phone... if you wanted to work with a buyers agent you'd sign an agreement with them.

am i missing something?

@Hunter B.

I'm not sure what your question is.  Are you saying the listing agents were ignoring you, potential buyer agents were ignoring you, or both?

A lot of distressed inventory is bought off market, with no agents involved in either side.  But, I don't invest in SC or know anything about this market in particular.

@Druce Asah

happy to share

one challenge is just finding deals at all - there is competition on the best ones and the price can get bid up just like an on-market deal