All Forum Posts by: Nick Giulioni

Hey - do you have a job or are you planning on living on this money? You can absolutely start with 10k and wholesale, buy a rental or two.

Congrats on starting to think ahead. I certainly wasn’t doing that at 21 years old.  I’m not in your market - so I can’t help with your team - but I’m really happy to see you doing this!

My recommendation is to read the books listed on BP (not the forums) to figure out HOW to do this stuff. The forums are a great place to ask specific questions, but not a great way to learn a certain topic.

Dive deep, find out what YOUR specific goals are, and make sure all fo your investment criteria match those goals. There are a ton of ways to invest and evaluate real estate. Make sure every step you take moves your towards your end goal.

Feel free to hit me up if you ever need help!

I would likely buy it in a shared LLC.

Banks usually don’t like 100% leverage, but it is possible. I think that he needs to write up a note as a “gift” in order for the bank to take it.

Yes they do. You can do the 3.5%-5% down no problem, even on a second home if your DTI will qualify you.

You inherited a performing asset (business?). It’s not house hacking - it’s taking money off the table on a monthly basis to deal with your own expenses (your own house).

All of that is to say that it’s not the wrong thing to do. Imagine how much further you did a traditional house hack (another duplex)? Then you might actually be able to walk away really for free (after maintenance, vacancy, etc.)

Generally speaking, banks don’t like to see 100% leverage when purchasing a home.  So probably not.

Good work on it and congrats on the first investment!

I would definitely go to a broker (reach out to me if you need a recommendation). 30 year fixed would seem to fit all your goals.

Best of luck and congrats!

 That sounds like a great solution!