All Forum Posts by: Remington Blackburn

Happy to help! :) lets do it again 

I have a duplex going live next week for 200k in Portsmouth (right next to Port Norfolk Rec center) both units are currently vacant. 7 min from Brighton 

I'm sure there are people on the BP forum who are interested in providing capital and having you do the work of finding the property and doing the rehab as long as the ROI makes sense.

I would recommend finding an agent in your area to help you find the property you're searching for. Go to meet ups in your area to branch out and meet like minded people. 

Distressed properties = more $$ out of pocket for the rehab. For your first investment (& with not a lot of capital) I would recommend looking for something that needs cosmetic updates compared to a full gutting. If you can do most of the work you can save money on labor. 

I have an agent at my brokerage here in Virginia who is from Tennessee. She kept her license active there because she still was receiving referrals and had listings going on. I'd say keep it active if you still have active clients in Minnesota. (keep it active for as long as it makes sense). 

Congratulations on the move to Florida ! 

I agree with the above response! 

House hacking is a great way to get started. We currently house hack our residential home and did with our multi family a few years ago. 

Multi-families are a little harder to come by due to low inventory right now, you're most likely going to have to do some fixing up or upgrades depending on the price point and location. 

@Javin Platon

I sent you a PM! I’m happy to help answer any questions you have on investing and where to start.

Rich dad poor dad is a great book to read as mentioned, that was one of the first books I read that got me started in real estate investing.

Surrounding yourself with people who are trying to build their real estate portfolio & people who have experience in the field is always the best way to go! Connecting with those who have properties and who can shed light on their experiences will help motivate and guide you in the right direction. 

I agree with intending to live in the space for some time- maybe fix it up and then rent it out- so you can lock in that lower rate is definitely the way to go.

If you have any questions feel free to reach out :) 

@Christopher Johnson

Hey Christopher! I recommend Virginia Beach as well. I’m an agent here in the Hampton roads area. We currently house hack our home and have a few properties located in Ghent, Norfolk, and Portsmouth that we cash flow on. I’d recommend looking in ocean view and Norfolk if you’re looking to house hack and find something at a reasonable price.

VB is a really cool area, good people & plenty to do.

Feel free to reach out if you need any help or recommendations!

@David Gatlin I'm in Virginia Beach too and currently house-hacking. I have a few clients doing it too. We even have a handful of friends who are in the BP mindset and house-hacking here in VB as well! I love your plan, but in today's market it might be tough (not impossible) to find an affordable duplex in a nicer area for you to live in and house hack. I'd also open up your options to homes with in-law suites that you can section off into another unit. We had dinner last night with two of our friends who are house hacking with in-law suites and it's going great for all of us. We're all living with our significant others and kids so we're renting out the in-law suites, but you could live in the suite and rent the main house! 

It's not ideal, but another option is just renting other bedrooms in a single family home. That's how my husband got started when he was your age. 

I don't want you to get discouraged if you get on zillow and see all the multifamily you'd be interested in listed at $350k+. A house-hack is just a place you live and that also generates income to pay the mortgage. Don't be afraid to get creative!

Feel free to DM me if you have questions or want to chat. We'll let you know if we need any help with electrical too!

@Sean Rooks, I'd want to piggy back off this post too if you don't mind sending it to me. We're looking for a good GC for our place by Oceana. 

Thank you!