All Forum Posts by: Ryan Morgan

Can you share the titles of any book that you thought really helped in the RE investing or house flipping world? I keep seeing the Flipping Houses book when I log in and before I spent the $$ I would like some opionions if this or any other book is worth it?

Thanks!
Ryan

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Originally posted by @Mike Makkar:

@Ryan Morgan, There are multiple models in the RE business. Two popular models are Buy/Hold Rental or Flip. House hacking just means, you live in your own rental or live in your flip, before you turn it into a rental or you flip it.

The economic advantage to this is, you roll your mortgage or rental costs into your "investment" and thereby save several thousands of dollars. Inorder for this to work, your fundamentals have to work. Fundamental such as your property should be able to cash flow (ie rent for at least 1% of the purchase price per month) or you get the property for 30% below ARV-costs to be flipped for profit. Technically, you could reduce the cost of "stay" to get better numbers, but you try the math!

Thanks Mike and as you clarify that for me I often thought about moving into one of my rentals that has no note too keep the overall expenses down. In the future I just might do that the only issue is its in a lower income area and well you can imagine the issues with that. Thanks again!

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Yes you should be able to buy points and enough not to have PMI.

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what does house hacking consist of????

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That's awesome! Great job!

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Welcome! Great info here!!

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Thanks for the info Paul! I will check out all the links and books.

Ryan

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Originally posted by @Paul Timmins:

@Ryan Morgan

Welcome. Fill in the foundation below.

Check out the Start Here page http://www.biggerpockets.com/starthere

Check out BiggerPockets Ultimate Beginner's Guide - A fantastic free book that walks through many of the key topics of real estate investing.

Check out the free BiggerPockets Podcast - A weekly podcast with interviews and a ton of great advice. And you get the benefit of having over 100 past ones to catch up on.

Locate and attend 3 different local REIA club meetings great place to meet people gather resources and info. Here you will meet wholesalers who provide deals and rehabbers (cash buyers). Find them through Google and meetup.com

Two Great reads, I bought both J. Scott The Book on Flipping Houses, The Book on Estimating ReHab Costs http://www.biggerpockets.com/flippingbook

Consider checking out HUD homes for small multi's owner occupied gets first crack.

Download BP’s newest book here some good due diligence in Chapter 10. Real Estate Rewind Starting over

http://www.biggerpockets.com/files/user/brandonatbp/file/real-estate-rewind-a-biggerpockets-community-book

Good Luck

Paul

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I am just wondering what some of your thoughts are about taking the equity out of rental properties to reinvest? I was talking to an old timer who said he always mortgages out all his properties. My first thought and long term thinking is it would be better not to have notes on them. Thanks! Ryan

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Hello BP community! I am a newbie and look forward to expanding my skill set in the real estate investing world! I have some landlord experience along with residential construction experience. I have a background in the electrical trade and consider myself a jack of all trades master of non!! I am looking at taking it to the next level and have been toying around with the idea of some 4 unit apartments. Does anyone have experience securing financing and building them?

Thank you in advance,

Ryan

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All Forum Posts by: Ryan Morgan

Ryan Morgan has started 9 posts and replied 20 times.

Post: BEST BOOK TO BUY????

Post: Newbie Question!!!

Post: Pmi removal

Post: Newbie Question!!!

Post: Need Inspiration? Check out this post!!!

Post: Getting going in New Jersey

Post: Investor from Michigan

Post: Investor from Michigan

Post: Get the equity out???

Post: Investor from Michigan