All Forum Posts by: Noah Bacon

I review the subreddit inconsistently as well, but find myself frustrated with the lack of identity due to anonymous accounts.

We even tightened our standards in the BiggerPockets Facebook groups last year due to increase of post/deals/stories that make you scratch your head and think "Is this story fabricated?" We love to maintain an open dialogue on the BP forums and will continue to allow our community to hold every single member accountable for their remarks, especially those whose validity is in question.

We will always welcome our users with open arms, allow you to consume the content you seek on our site, but we ask you give truthful information around your real estate endeavors and accounts!

1 Vote

Hey @Mark Delgado!

You can find the download from Dave's IG post here!

2 Votes

🏝️ Early Bird Window is only open for one more week! Secure your spot early for the best room selection and access to workshops. Room offerings are limited!

0 Votes

Thank you for letting us know, Walter. Our tech team is aware and working on fixing the bug!

0 Votes

Congrats, Steven!

0 Votes

Boise, Idaho

Quote from @Victor Soni:

Quote from @Noah Bacon:

@Victor Soni we have a new contact at Home Depot that will be able to assist!

Please contact:
Brian Aguirre | National Account Manager
M: 770-681-1675 | [email protected]

Thank you for your patience, and my apologies again on the confusion!

Great! Thank you!

Will this change automatically happen or do I need to do anything?

Thanks again!

Victor

You will need to reach out to the contact above and they will help get your discount activated. We are working on updating the discount on our end!

0 Votes

Hey everyone, I wanted to invite you all to a special real estate meetup happening in the Denver area. BiggerPockets has teamed up with Rocky Mountain Women Invest to host this event, and it's a great opportunity to connect with local investors, learn from industry experts, and celebrate the launch of a new book.

Meetup Details

Date: Thursday, May 2
Time: 6-9 PM
Location: 14er Brewing, 1290 S. Broadway, Denver, CO 80210
Admission: Includes 1 free drink 🍺

What to Expect

Meet the Authors: Get the chance to connect with Amelia McGee and Grace Gudenkauf, the authors of the new book The Self-Managing Landlord: More Profit, Time, and Peace of Mind with DIY Rental Property Management.
Book Signing: Bring your copy of the book for a personalized signature and receive an extra free drink🍺
Networking Opportunities: Whether you're a seasoned investor or just starting out, this is a great chance to mingle with like-minded individuals from the local real estate community.

1 Vote

Quote from @Beth Anderson:

Quote from @Noah Bacon:

I am not a lender, but I would not expect you to qualify for a mortgage on a SFH that you would not be able to afford. Even with future income to offset the mortgage, I would not expect a lender to underwrite a SFH as an income producing property like they would for a multifamily property.

I would not advise you to pursue a house hack that you cannot afford without a tenant, due to the nature that it will certainly take time and mistakes for your first rental to stabilize.

I wouldn't skip it entirely until you've done all of your due diligence; you can seek additional loan options or even a parter on the deal if the carrying costs are too high. Of course your numbers will need to work if you are going to seek partners!

I wouldn't get too hung up on a specific number or rule about how much of the mortgage you are responsible for after your rental income WHILE LIVING IN THE PROPERTY. What I would really concentrate on is analyzing the deal as a traditional long term rental without you living in the property in 1-2 years. A few things to think about:

Does it cash flow?
If not, how much of a loss are you taking?
Will it cash flow in year 2-3, or will I need to sell after I move out?

Offsetting any part of your mortgage is going to be a huge benefit while you live in the property, hence why I am less focused on a certain rule or number. You need to make sure the next 25+ after you move out of the property make sense as a rental and where I would shift some of the focus!

For reference, I have moved out of 2 house hacks, turned them into LTRs, and one cash flows while the other doesn't just ever so slightly :)

Thank you, Noah. What you talked about is certainly my perspective as well. I don't feel very confident in my numbers, but I'm pretty sure it would cash flow after we moved out. Especially if I did it as an STR. But in order for it to work, the seller would need to come down by about 20% of his current asking price. Or more. My realtor is checking with the seller's realtor, but she's not hopeful that he would do that. I can't blame him. He's asking a fair market price.

I'm sure you and your agent have done your due diligence on the STR regulations in your market, but I would encourage you to analyze the deal as a long term rental and verify the numbers make sense. You never know how fast regulations can change, and if you have multiple exit strategies you mitigate a lot of unexpected risk.

I am excited for you and hope that you are able to get the asking price down to fit your analysis!

0 Votes

Cleveland, Ohio

@Victor Soni we have a new contact at Home Depot that will be able to assist!

Please contact:
Brian Aguirre | National Account Manager
M: 770-681-1675 | [email protected]

Thank you for your patience, and my apologies again on the confusion!

2 Votes

Quote from @Victor Soni:

I called Home Depot Customer Service and they said they have no knowledge of any deals with BiggerPockets?? Wierd? I set it up under the directions provided above by Aaron Breckenridge and than linked it to HDPro account. The representative was able to verify that it has been linked to my account but he wasn't aware of how the rebate/discount works? The representative gave me a number to call for help. I called they only to find out that its the phone number to the National Real Estate Investors Association.

I am confused! Is this a discount at the register or a rebate on the back end?

Anyone at BiggerPockets, please feel free to chime in.

Thank you,

Victor

So sorry for the confusion! Our team is working on fixing the discount. I will send you and update as soon as we have it fixed!

0 Votes

All Forum Posts by: Noah Bacon

Noah Bacon has started 127 posts and replied 688 times.

Post: Browsing reddits realestateinvesting sub makes you appreciate BiggerPockets

Post: Awesome Looking Spreadsheet in a Dave Meyer ig post

Post: 🎉 BPCON Registration is Now Open! 🎉

Post: Followed Locations Feature

Post: We Closed Our First Deal

Post: Home Depot Perks

Post: BiggerPockets Meetup in Denver May 2nd!

Post: Is it smart to buy a house hack that we couldn't afford without the rental income?

Post: Home Depot Perks

Post: Home Depot Perks

Noah Bacon has started 127 posts and replied 688 times.

Biggerpockets Logo Post: Browsing reddits realestateinvesting sub makes you appreciate BiggerPockets

Biggerpockets Logo Post: Awesome Looking Spreadsheet in a Dave Meyer ig post

Biggerpockets Logo Post: 🎉 BPCON Registration is Now Open! 🎉

Biggerpockets Logo Post: Followed Locations Feature

Biggerpockets Logo Post: We Closed Our First Deal

Biggerpockets Logo Post: Home Depot Perks

Biggerpockets Logo Post: BiggerPockets Meetup in Denver May 2nd!

Biggerpockets Logo Post: Is it smart to buy a house hack that we couldn't afford without the rental income?

Biggerpockets Logo Post: Home Depot Perks

Biggerpockets Logo Post: Home Depot Perks

Post: Browsing reddits realestateinvesting sub makes you appreciate BiggerPockets

Post: Awesome Looking Spreadsheet in a Dave Meyer ig post

Post: 🎉 BPCON Registration is Now Open! 🎉

Post: Followed Locations Feature

Post: We Closed Our First Deal

Post: Home Depot Perks

Post: BiggerPockets Meetup in Denver May 2nd!

Post: Is it smart to buy a house hack that we couldn't afford without the rental income?

Post: Home Depot Perks

Post: Home Depot Perks