All Forum Posts by: Nick Parenti

Hello all,

My wife and I are looking to purchase a house-hack in the southern New Hampshire area. My question is in regard to getting funding for a loan due to my income. My wife has a W2 income. For myself, I own an e-commerce business so I am self-employed. I started the business in late 2022, so only have about 2 months from that year on my 2022 tax return, then have a tax return for all of 2023. I know lenders typically look for 2 years of tax returns for self-employed income. Would lenders approve us for a loan for a house-hack even though I don't have 2 full years of income on tax returns? The other note is that in 2024, my income from the business really sky-rocketed, 3-4x what it was in 2023. But, would my 2024 income even be considered towards pre-approval given it is not on a tax return yet? Any information/suggestions anyone can provide is greatly appreciated!

Hello All!

I’m looking to get started in long-distance real estate investing and have been doing lots of research on several markets to try and select the ideal market based on my strategy. A problem that I’m having is where exactly to get my information from. I’m lookin for stuff like average current rents by city, average current home prices by city, crime rates, population growth, etc. but see different numbers every site I look at. Does anyone have any experience in researching markets and have any suggestions on where to get my information from?

Thanks!

@Ben Rhodin

Thank you for the advice, I really appreciate it. My initial thoughts were that I probably couldn’t get anything going for myself in real estate until I return from my trip in 2 years. However, everyone is challenging me and opening up my eyes to the very real possibility of getting started now and having property while abroad. I want to thank you for your encouragement as well!

@Julie Toh

No, I have not contacted a mortgage broker yet. I am trying to decide what my best game plan is for the next 2ish years here before I move forward…begin with the end in mind. Something else that concerns me is that I am self-employed, and new to it as well, so I fear I most likely will not be able to qualify for traditional financing to buy properties.

@Grace Wang Thanks Grace! That’s great advice. I’ll definitely seek out some lenders in the Denver area!

Hello everyone! My name is Nick Parenti and I am an aspiring real estate investor currently located in Boston, MA. I've been reading, researching, and listening to Bigger Pockets podcasts for the past several months after reading Rich Dad Poor Dad and falling in love with the idea of real estate investing. I'm having a bit of a dilemma on what to do next; any advice anyone may have is greatly appreciated. 

My goals and aspirations for my real estate investing is to own long-term buy & hold rental properties. After researching, I know that the path I want to take to get started will be with a house hack. Here lies the dilemma...as I mentioned, I currently live in the Boston, MA area. However, I have plans to travel the world for about a year or so throughout Europe and Asia in summer of 2022. After that, I plan to move out to the Denver/Boulder, CO area and settle down. Therefore, I don't think it's in my best interest to start to set up my real estate empire in Boston in the next 8-10 months before I leave the country for a year, and then move out to Colorado for good. My question to you all would be: how can I use these next 8-10 months effectively to move towards my goals with real estate investing? I look forward to hearing from you all and want to thank everyone in advance for giving your advice!