All Forum Posts by: Nolan Merrill

@Lauren Juarez welcome to Rockwall! Great town and good luck with your investing journey! 👍

@Simon Shih I totally understand with your situation!

@Logan Allec that's great. Awesome to house hack, which is what I'd love to get into as well

Thanks for sharing!

Do you rent or own where you live and why? 

What pros and cons for each and does the current market and economy influence your decision?

Just looking for some opinions!

Have a you been to a local REI meet up in your area? Since you've had success, share that and other people may want to get involved. Perhaps you could meet and network with some potential private lenders or partners for reasonable cost and better access to capital. Wish you the best with your goal..you'll get it!

@Jeff Mobley and @Vincent Crane Hardmoney has definitely been lingering as a possibility, can't let the fear get in the way and move forward with confidence. I appreciate the input guys!

@Mike H. Thanks for the strategy and the numbers with it. That is probably where I will go with my first step...I'm pretty pumped about it got my eye on a couple potential fixers to get some equity into them. I'm with you on the duplex, I've only seen 1 in my town for sale and it was just the 1 side like you mentioned...maybe I should just build one :). 

Thanks again!

There are definitely some nice improvements happening in downtown right now. 

Do you have a set perimeter you'd like to stay within? 

I recall seeing a couple FSBO close to downtown the past couple months, something to keep an eye out for.

@Billy Au-Yeung thanks for responding! I would absolutely do the house hacking, except for there are practically no duplex or other small multi family properties in my town, unless I were to move a decent distance away. If it were more available I'd definitely love to. Thanks for the input! 

Hello BP! Looking for some advice :)

I've been learning my new market, driving neighborhoods, scouring listings and keeping my eye on old listings/foreclosures etc. Currently I own no properties and ideally would love for my first action to be a successful flip to get jump started with some experience.

If you were me, a 23 year old with good credit, average job, approx $10k for a down payment, and no collateral...what would be your goal for deal #1?

I've considered the idea of a live-in-flip or at least getting a renovation loan of some sort and selling down the road.

Fear arises in me when I think of private or HML and have no idea if they would even lend to someone of my experience.

I'd love to take a step and make offers, I just have no idea how I should go about it with the financing. 

Sorry for the long post...but what's your take BP, what would you do?

Hi Graham,

I'm sure you might remember me! Welcome to BP! There is so much to learn...be sure to stay active in the forums, read and search through the blog, and check out everything else on the site. 

Best of luck to you,

Nolan

@Nate Barbee sounds like you're off to a great start! Keep up the good work and you'll be well on your way to a whole portfolio. Lots of other investors around to learn from in this area. Share some more success you have down the road!

- Nolan