All Forum Posts by: Nick Giulioni

No one on the podcast is ever advocating jumping in without knowledge and a solid financial base. Do what's right for you.

What they are talking about are the people who have credit scores in the 600+ range, downpayment saved, and have listened to all the podcasts but haven't pulled the trigger.  It's more common than you would believe.

My recommendation - and take it for what it's worth - is to get your financial life in order and as soon as you are able without putting yourself on the street, buy you first deal.  I would analyze deals EVERY day until that point so that you know what you are looking for (perhaps a house hack?).

You will learn more in your first deal than you could ever absorb reading posts/books or listening to podcasts.  Your first deal won't make you rich... but it could launch you into the next stage of your life.

I've done BRRRs in my name and then quit-claimed them over to my LLC once the refi was complete.

Sounds like you might be in a very different position though as a foreigner. 

Great work - congratulations!

There's a price for anything... have you checked what local rents are in that area?

Cash out refinance if you aren't living there. HELOC if you are. How long are you planning to hold before refi? You will need a seasoning period.

Hey - given that you don't have much saved up - rehabbing means that you are going to be doing a lot of labor. If you are cool with that - go that direction. If this is your first deal and you are more worried about getting on base than hitting a home run, I'd do something that allows you to house hack, reduce your housing expense, and work on your next flip.

How comfortable are you doing work? How much cash do you have? Distressed properties are a great way to add value and skyrocket your wealth... but only if you have the free capital to go over budget when something inevitably goes wrong.

Need more specifics on rent, value, how much you’ve invested, etc. Additionally, what are your goals?

Yes - that is house hacking and a really good option!

I would personally save the money for a rental in a market with >1% RTV. Aggressively save for the right opportunity. 

Congrats on making all these moves!

 Good job bud! You are an inspiration to us all.