All Forum Posts by: Olivia G Gonzalez

Hi Greg, love your response to this! Specially the GOT reference! Everything you say makes sense and I agree with your assessment. 

@Drew Sygit I am really good at managing money so that's a relief to hear!

Where would you say we are in the business cycle right now in terms of macroeconomics? 

@Robert Ellis Thanks Robert! I'd love that referral. I'm all about mitigating risk and setting myself up for success. I learned something new from your tip and I appreciate it! ✨

@Shiloh Lundahl Hi Shiloh, you're totally right.  I have been working on those self limiting beliefs and telling myself "I can understand this if I I keep trying." Just cause I don't understand certain things right away doesn't mean I won't eventually, specially after actually doing it in real life multiple times. Thank you so much for your words of encouragement and it's super cool to meet a fellow therapist in this business! ✨✨

@Wale Lawal thank you Wale, that means a lot! 

@Sandra May thank you! 😊

@Todd Rasmussen thank you Todd! "Sticking to my friend like glue" is definitely the strategy, I would not be doing this if I didnt have the luck of a friend pretty much "doing it with me/for me." I just hope to not have to rely on him so heavily if I plan to get into more than 5ish BRRRRs because I realize that would be a time constraint for him. At the same time, he loves real estate and helping me is fun for him and also gets him work as he is the one to be doing the rehabs so it's a bit of a business partnership too. I'm an experiencial learner and I think after I do a few, I'll be able to really understand how to lock down a specific type of deal and I'll just stick to that. I don't expect I'll ever have the brain that will easily understand all the different creative strategies there are out there for doing real estate but since I'm not planning to become a real estate tycoon or make my entire salary through passive rental income, it's not that big of a deal. I keep telling myself, to get into about 5 places, I just need to know enough, not be an expert. I hope I'm not being daft.

@Bill B. Thanks for your input Bill! Before I even knew what house hacking was, it was my goal to find a place with an unfinished basement I could renovate and rent out. However, where I live is very expensive and last year when I was looking to buy, I ended up not finding anything in my budget except the home I bought which is a two bedroom towhhome. My mortage ok this 390k home is about 2k a month and that's after having put down 20% on it. Renting out a room is not a possibility :( in addition, I didn't know I was going to come into some extra money this year and real estate investing was not something I thought I had enough capital at the time to get into any time soon. I ended up doing a $35,000ish renovation on the townhome, purely cosmetical. I know I will never get this money back when I sell but at the time I thought this was my forever (or at least 20 year home) and I wanted to make it cozy and beautiful (all my family are interior designers so naturally this was my path lol). Anyways, I will be in this home for at least 10 more years.  

Ps I love your dating story! My best friend who is helping me with this was a romantic partner for many years. We almost got married but decided to stay best friends instead. We actually met because he was house hacking and I rented one of the rooms! Thanks to that, I now have a mentor through this investing thing and actually he is currently working on a flip with money I lent him (so I guess I'm technically in the biz already as a small private lender!)

@Jared Smith yup, that's what I hear and it makes sense. I am looking to stop working weekends in the next year and hopefully go from 40 hr workweeks to 32 hours in 5ish years. My friend is able to cash flow about 800 from a duplex deal but I realize incredible cash flow deals like that are few and far between with the current conditions.