All Forum Posts by: Ran Iarovich

 I agree with Scott. Start house hacking for the fastest jumpstart and to really get yourself in there. Try to get a duplex, triplex, or quadruplex. Granted, it depends on where you live and how much you can afford. Don't bother if it doesn't cash flow unless you can get a massive equity position with a discounted price. Run your real estate empire like a business. Set quarterly metrics to get better and 1-year, 3-year, and 5-year goals. 

Hope this helps,

Best,

Ran 

 I agree with Scott, the surest way to jump-start is to do house hacking with a duplex, triplex, or quadruplex. Granted it depends on where you live and how much you can afford. If it doesn't cash flow don't even bother unless you can get a killer on the discount price. 

Thank you for the guide - saving this post for any one of my friends who want to try either one. 

I was wondering if you had any input as to the closing costs that you typically conduct deals with and charge buyers and sellers.

Is it different based on the state that you operate in?

I would first ask the listing agent if they allow VA loans in the first place. Some homes don't. Then, contact an independent buyers agent and ask them for their recommendations on mortgage brokers that can find you the best assumable loan. Hope this helps!

I don't know your situation but as a college kid myself, I would say give the kid a little bit of a rest and figure his stuff out independently. If you were to buy a property maybe allow him to manage it so he can get started early in the real estate game and come visit from the time to time.  

1) Having enough in savings and starting to cash flow with the new endeavor. Without an exact monthly income, you have to be smart about how you stretch yourself. Lots of free trails and Chipotle hacking can get you a long way haha

2) I want the freedom of not needing to wake up at a certain time, listen to the conventions of a boss, and follow a routine that isn't my own. I want to ascend in my life and find the most growth. That path can only be taken if you create your own reality and borders.

3) Fear is good, it allows you to live and take the push that you need over the edge. I will say that I'm most anxious about the future of the U.S. economy in terms of 5 to 10 years from now. Who knows what going to happen with the wealth gap? Are interest rates going to keep rising? What about the U.S. Debt ceiling? So many possibilities and so many predictions but the truth still remains hidden.

Most closing costs are fixed and just seem high to you but they are not relative with the sales price for most cases. 

I agree with Scott, I would go with the approach where you agree with a an agent on a discounted commission for their services. Something like 10% - 25% for them. That way, they'll be able to eat and be motivated to help you with the deal. You want to make sure that there is some sort of incentive for both parties - there is enough pie for everyone.