All Forum Posts by: Robert Reynolds

My recommendation is to connect with an investor friendly agent and have them set you up on listing alerts. That will shoot you every house with your criteria that comes on the market or back on the market. Then text or email that agent when you find a home that you like and then they can look up the private comments to see if there's anything wrong with that property. Would love to help. 

I love the response Mitchell and I don't think a young first time investor can go wrong in either scenario but I do believe a house hack in a home town is the best first investment. You can get to know the property as you live in and rent out the spare rooms. You will no longer be paying rent, and instead paying down your mortgage. It's also a lot less riskier in my opinion because you already know the area. 

If I were to recommend buying out of state it would be what Mitchell is saying and buying a solid BRRRR type property.

Hi Wasim, 

My advice is to not chase cash flow, because appreciation is going to be what builds wealth in the long run. If you are currently renting, my recommendation is to house hack, and rent out the extra rooms to cover most your mortgage. While doing that, keep saving and when you can cashflow by renting out the entire place, buy another. Before you know it you will have multiple cash flowing assets in SoCal that are appreciating way more than a house in Indiana or Ohio or wherever else you are seeing this cash flow. 

Remember, a roof, an AC or anything else basically will cost the same on a $100k house in Indiana as it does on a $1million house in LA. I'd rather have (5) $1million+ homes, than (500) $100k houses. 

As you probably know it's really hard to make an FHA work with 3-4 unit building with the self-sustainability rules that have been added since covid lockdowns. My advice would be to buy a duplex or house and house hack it. Then when it will cashflow after a few years, move out and repeat the process. You can use your commission to offset closing costs or refund yourself your downpayment after the transaction is over. You will still need to show the bank and the seller that you have enough cash to close but those could be gift funds if you don't have the funds. Reach out to a lender and they can help game plan it with you. I have a great recommendation if you need one. Pick one that is an investor and is investor friendly.

Welcome to the bigger pockets community. Excited to have you as part of it. 

 Check the forums for local meetups. There are several that I know occur in Los Angeles on a monthly basis. 

 Hi Candace, 

Would love to help answer any questions or concerns you have about buying your first home. We work with many first time home buyers and first time investors. Sometimes our clients get creative by adding family members on to the loan to help them get approved for more. Had one client go from $700k to over a million by adding their mother who was going to move in anyways. 

 Welcome Serena!

Love the goal, wish you the best!

Come and enjoy some yummy food and great conversation. This will be our 4th local meetup, and we can't wait to have more. Please come to share your knowledge and learn from others on the path to Financial Independence and Wealth Building through real estate. Please don't come to pitch you companies, this is a time to build community. Look forward to seeing everyone!

https://www.meetup.com/the-dav...

@Jason Carter when's your next meetup? Is there a meetup.com link that I can follow. Hope to see you at my next meet up. https://www.meetup.com/the-dav...