All Forum Posts by: Sarah T.

Hello! I'm looking into tax auctions as a first step into a real estate investing as I don't have much capital. I found a property I like on the local tax auction website, but instead of waiting until the auction date and bidding, I want to try to reach out to the property owner or manager to see if they are willing to sell it. On the website, they are listed as an LLC and the their mailing address is a house that is now for sale as a short sale. There's no number I can contact. Where do I go from here? Would it be better to just wait and bid anyway? Would appreciate any advice. Thank you!

Hello! I'm looking into tax auctions as a first step into a real estate investing as I don't have much capital. I found a property I like on the local tax auction website, but instead of waiting until the auction date and bidding, I want to try to reach out to the property owner or manager to see if they are willing to sell it. On the website, they are listed as an LLC and the their mailing address is a house that is now for sale as a short sale. There's no number I can contact. Where do I go from here? Would it be better to just wait and bid anyway? Would appreciate any advice. Thank you!

@Marian Smith thank you for your input. My main motivation to start real estate investing is to help my parents financially for retirement and eventually my own retirement. They’re immigrants and only have a few years left to work in the job they worked for decades. The cost of homes and property has risen so much this past two years where I am.  I just don’t want to miss the boat before it’s just too unaffordable. 

@Amy Beth 

Thank you for your input. I am currently in an 6 month internship and 3 month job contract so I can't go earlier.

@Whitney T Redfield I'll look into partnering if I can't get a loan myself. Thank you!

@Steve Vaughan Thank you for your advice. It's just that so many blog posts and people say it's one of the best options for multifamily buy and hold. I have a lot to learn.

My plan is to start investing late this year/early next year. I graduated in December and am trying to build capital right now. My parents are willing to lend me money as well. I work three part time jobs and can't look for full time until after my one month trip abroad this summer to see my grandmother in her failing health.

After that, I will start looking into conventional or FHA loans when I find a full time job. I'm concerned that this one month gap and part time jobs will make it more difficult to get a FHA loan as it seems they want to see stability in income and employment.

Would I have to wait after working another year full time to even consider looking at loans? I guess I'm just being impatient to start ASAP. There is a multifamily property 5 minutes from my parent's house that would be a great first buy but right now I'm not ready.

I'm wondering how students right out of college were able to qualify for the loan. I read that the lenders consider your time in school as well. Any insights and advice would be greatly appreciated.

@Caleb Heimsoth

The average rent is slightly higher in Atlanta. My family are telling me that Orlando may be smaller but I'd save up more and faster by living with family and not having to pay for food or housing. But at 24 I’m ready to leave the nest though I’m worried that by moving it’d eat up my savings and income and delay my goal to invest.

Hello! I am finally done with my college program and am having trouble deciding where to go next. My long term goal is to have enough capital to start house hacking within two years. I moved from GA to central FL 2 years ago for my program and family, but there are much bigger markets and opportunities for my career (UX/UI/Interactive Design) in Atlanta or up North. I've listed the pros and con of moving away vs staying put. I would love your input for those faced with a similar situation. It's essentially quality of life vs expenses. I'm single and have no dependents. What would you do? 

Atlanta-
Pros:

• More pay
• My college friends are here!
• Bigger City 
• More opportunities for career

Cons: 

• More expenses
• State Income Tax

Orlando-

Pros: 

• Closer to family 
• No State Income tax
• I could live with family rent free, but I REALLY want to move out

Cons: 

• Smaller City
• I don't like the city atmosphere
• Tolls everywhere
• Smaller market for career
• less pay

Just want to say, I'm a total newbie when it comes to investing but have helped my parents sell and buy a home. I hope to start investing on my own in a year or two. My parents are interested in househacking and I saw a potential property  that was a fourplex for just $160k. The pictures shown seemed to be in good condition. The post was on zillow and by owner so I just texted the number on the post to see if it was still available. It was a very casual approach and the guy responded promptly. 

However after I asked if we could see the property he said only from the outside even though the post said to schedule a viewing by calling the number. He's from out of state and the property has been sitting for a couple months now. I tried calling him and I was put off by his text responses as if he didn't want to talk to me. He called me a whole week later after I left a voice mail. The property seems a bit too good to be true and the owner seemed a bit evasive. Is this something still worth pursuing? 

Thank you for all the responses so far!

@Terry Lao

I was hoping to look at properties in the bigger cities like Tampa, Gainesville, or Orlando. I don't see any 4plexs in Clermont atm. 

@Di Di Dee

Thank you for your advice! There are blog articles about college students that got into house hacking and I guess it's no longer as easy as they make it seem to be. I will just save and learn until I am ready.

Hello! I'm a total newbie to this so I would appreciate any insight. I recently learned about this wonderful site and I am interested to start investing in real estate through house hacking. After graduating this semester, I will find work in web development and am open to working anywhere. I first step is building capital. I know my parents and aunt will be able to loan me $20k. I still want to save enough for cash reserves and repairs.

For an FHA loan, it seems that employment requirement is recent 2 years. While attending school, I've worked at a relative's business these past two years on weekends but didn't make enough that I had to file taxes. I do have the checks as pay stubs though.

1) Am I eligible for an FHA loan by next year though my pay stubs and proof of enrollment in school?

2)  How will I know I will be ready? Is it when I just have the enough funds? 

I would appreciate any advice! Thank you.