All Forum Posts by: Sean Rana

@DAn L. I would not really suggest it. Time is extremely valuable and I think the same time and energy you spend on trying to build a room in your backyard, you can instead spend on doing something else, like wholesaling, networking with other investors, forming partnerships, etc.

@Ayne C. Very good suggestion... I think it’s always good to let the tenant understand your expectations, and in many ways, this allows for them to respect you even more as a landlord.

@Irwin Velez Hi, sorry to hear about that.

How strong is your lease with that tenant? What does it say when a tenant refuses to pay rent.

If you wish to talk more about this privately, just hit me up any time.

Thanks and sorry for your troubles.

@Daron Williams I do understand what you are saying. While I can’t relate to you on that level yet, I must say that it is important for people to be with others who are on the “same level” as them. I have friends who laugh every time I talk about real estate and it is very uncomfortable for me too, so I try to talk more about things that would relate to them. In this case, a spouse is different. She is your support and you should really talk to her to work this out. I’m sure you will do well and I wish you the best of luck out there! Take care.

@Javen Bowman It is definitely something you can do, with partnerships or private money, or even trying to get different lenders. There is a saying that if you have the right deal, the money will follow. The best would be to start building relationships here on BP so when you do have a good deal, you can push it out to others.

That’s great! Way to go man! Wish you best of luck.

I strongly believe that in Texas, the laws are very fair, and things are very well-managed. In Houston, economic growth is quite stable and we can see a lot of trends that are positive, such as employment and etc. On top of that, many businesses are in Texas and that allows for a very strong economy as well. I think that in the future, based on analysis and investors' predictions, we will see internal migration.  Meaning that once Houston or Dallas becomes too expensive, smaller cities like Austin and San Antonio will become more popular for some companies as well as families, because they will move to a cheaper and more affordable area, so I will say that those areas are still developing and ones that you can definitely look into. Other good states are Georgia, Florida, Ohio, and also Hawaii. 

Definitely something to look into. Adding onto the idea of recent trends, you can also look at more suburban areas. I see that after the lockdown, more people are poised to move from large and crowded cities to more rural and friendly areas. They go from small and cramped apartments to bigger houses with more space. I believe that COVID has caused many families who are well-off and financially free to change their thinking on their lifestyles and the importance of having a good home. In conclusion , I definitely do support your idea. 

Hi there,

House hacking is definitely a great idea. The key here in my opinion is to have good tenants and people living with you. Consider them like your roommates, as they will be the ones who will support your mortgage payments and etc. While this is a good idea, I'm not sure if you want to pursue this because think about the opportunity cost. The same time you spend trying to set everything up, you can instead be using it to look into purchasing something with regards to multifamily or another type of real estate investment. You can perhaps partner up with other investors, or find lenders, etc. I'll be more than happy to help you and answer more questions for you. 

From what I've learned, it is always good not to over leverage yourself and I think putting 5% down is already too risky of a thing to look into. Try to aim at around 20-30% and if you don't have the capital available( remember, it's not just for down payment but money as cash reserves, closing costs, etc), then you should either look at a smaller deal that will be more suitable or you should partner/invest with someone else.