All Forum Posts by: Ryan Hourigan

Hey Ryan, I think that every situation is of course going to be different and depend on a lot of things in your life. I am personally of the stance of getting into real estate when you can is the best option. You never know what life events that could pop up and make it much more difficult to buy a home. If you go by the standard that most real estate appreciate 4% yoy then I think it is always a great way to start. Also the best way to get experience in this game is to do just start it! I hope this helps!

Your insight was very encouraging and helpful. Thanks for your time, D'Andre.

2 Votes

Quote from @Stephanie Walker:

I always recommend getting a primary first then turning that primary into your first rental property after your first year of owning it and living in it. Rinse and repeat!

Thanks for the advice, Stephanie!

0 Votes

Quote from @Bill B.:

Do either of you have any local friends, family or co-workers that you could tolerate living with you? Charging them 1/2 of whatever they’re paying to live solo. They save enough to buy a new car or start saving themselves. You pick up more than enough to cover some daily expenses like the utilities.

The added cost of buying a slightly bigger place will be almost nothing so you won’t lose any personal space. Even better if you find two.

Hi Bill - yes I would be open to that, I will look into this. Thanks for your insight.

1 Vote

Quote from @Julien Jeannot:

House hack a multi family. Duplex to fourplexes.

Or an SFR with a DADU. That's how I got started as well.

Thank you, Julien!

1 Vote

Quote from @Steve Vaughan:

@Ryan Hourigan my family and I did a combination and bought a primary with a rental attached in 2007.

Not a typical duplex, but a mother in law (MIL) suite. Technically, it's 'luxury househacking'. Could have an ADU, Casita, Carriage House, etc.

Or a regular house where you rent out the basement and it has its own entrance. Try and combine👍

Thank you, Steve - that is a great idea. I will look for this as a possibility in my house hunt.

1 Vote

Hi BP community,

Would you advise I own a primary resident before I get into real estate investing?

I would eventually like to get into the LTR space and build a strong real estate portfolio. My family and I are currently renting and do not own any real estate. Would you think it's best to hold off on REI while we save to buy our primary home?

I am eager to dive in REI but want to make the best choice for my family and not bite off more than I can chew at once.

Any guidance would be appreciated.

Thanks,

Ryan

0 Votes

Hi BP community,

Thanks for the wealth of knowledge this forum provides. I am 30 years old, a husband, father, Product Manager, and volunteer firefighter in my community.

My interest in real estate rentals has taken off since becoming a father – my ideal goal, like many, is to generate enough passive income through real estate rentals so that the cashflow can replace my W2.

My family and I currently live in NJ but I would like to invest in more cash flow friendly states. After listening to podcasts and reading this forum I have a taken a keen interest in LTR, specifically with Section 8 tenants.

I am looking to learn as much as I can about Section 8, which states/cities cashflow the best, and to learn the ropes with long distance renting.

I look forward to learning and meeting others through this platform.

0 Votes

All Forum Posts by: Ryan Hourigan

Ryan Hourigan has started 2 posts and replied 7 times.

Post: Invest in first rental or buy a primary residence first?

Post: Invest in first rental or buy a primary residence first?

Post: Invest in first rental or buy a primary residence first?

Post: Invest in first rental or buy a primary residence first?

Post: Invest in first rental or buy a primary residence first?

Post: Invest in first rental or buy a primary residence first?

Post: Rookie Investor from NJ - Interest in Section 8 (Anywhere)