All Forum Posts by: Reed Meyer

@Filipe Pereira Thanks a lot! I am actually about to start Extreme Ownership. These are great suggestions

@Jasmine Collins is that a good read even if I’m just getting started? I heard that was better geared to people who are investing in larger multi-family. Or do you think I’d still get a lot out of it as a newbie investor?

I have read Rich Dad Poor Dad and The Book on Rental Property Investing by Brandon Turner and I am now looking for my next book. Do you have any suggestions for good books to follow these?

For some context, I am planning on starting my investing off with a house hack and gradually building a portfolio of small MF and later some larger MF apartments. Thank you

@Patrick Menefee That’s great advice and I think that will be my plan. Is most of your rehab cosmetic or do you also do some more intense rehab (moving walls, replacing floor, electrical, roof repair, etc)? I certainly plan on investing in a property with simple cosmetic rehab to start and just trying to get some cash flow (probably in the form of a house hack).

@Brie Schmidt that's great advice. Thanks! I am not entirely sure what my budget will be but the plan would most likely be to start with a house hack where I could get an FHA loan and put 3.5% down. This down payment would most likely be anywhere up to $20k. As you mentioned, I plan on renting to start in order to get a sense of the neighborhoods and what a good investment would be.

@Evan Polaski So has your approach been to have your GC or handyman handle the entire rehab with you just providing direction on what you wanted done? Or do you participate in the rehab in more of a DIY way as well?

@Jason Marcordes I would love to house hack my first investment but as you can see in my previous reply I am concerned about being able to get an FHA loan. How do you recommend I go about finding an opportunity that provides seller financing? Are these mostly FSBO deals?

@Victor So Great advice, thanks. Sounds like in order to house hack and get an FHA loan I would have to show 2 years of past income. As far as I understand, since I am just starting work I would have to wait 2 years to be able to acquire that financing. Is that correct?

I am graduating from college in a few weeks and start a full-time job in Chicago in July. As I start investing in real estate does anyone have advice for investing on the side of their full-time job? Do you mostly focus on buy and holds with simple cosmetic rehab (this is my plan)? Or do you adventure into flipping houses and just hire contractors due to your limited time? My concern with this is the significant upfront expenses and the headache that comes along with over-seeing the rehab process. It seems that that would be difficult to juggle while working full-time. What do you advise? Thanks a lot.

@Alleia James Hi Alleia!

I am not a part of any meetup groups yet as I don’t move to Chicago until July. I also haven’t started putting together a team yet as I am really just in the educational phase right now and trying to learn as much as possible. Have you started to assemble a team yet? If so, where did you start.