Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here
Pick markets, find deals, analyze and manage properties. Try BiggerPockets PRO.
x
All Forum Categories
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

All Forum Posts by: Staci Craft

Staci Craft has started 3 posts and replied 15 times.

@Mike Jacovelli Absolutely. It took me a lot of research and studying to decide to jump into real estate so I stopped expecting people to understand my goals when they haven’t put in an equal amount of research. If I listened to everyone else, I’d stop my real estate ventures today and work my miserable nine to five until 65 and make someone else rich while I lived on a fixed income.

@Jeffrey Masessa I think of college as a time to transition into adulthood in a controlled setting so I recommend it if you need that. Some don’t. It’s very expensive to go to college and if your heart isn’t in it, you’ll either bomb and waste a lot of money or be miserable and waste a lot of time. I think getting your real estate license right out of high school is a good idea but know, by doing that you forfeit that transition time and you’ve got to immediately start working hard and making it happen.

Post: So what's holding you back?

Staci CraftPosted
  • Posts 16
  • Votes 5
Originally posted by @Frank Patalano:
Originally posted by @Staci Craft:
Originally posted by @Frank Patalano:
Originally posted by @Staci Craft:

@Frank Patalano

I’m afraid I don’t know enough to jump. I have a mortgage on my current home 130k. I could fully finance another, move into it and rent my current home out but is that the right thing to do? I don’t know.

So set goals to keep educating. 

It would be the right thing to do, IF you you can break even or make money renting your current home. Are you going to house hack a multi on your next investment?

Thanks for replying Frank! There is a 4 unit multiplex available 15 minutes from my home but in a different state. It's seems very affordable. They're asking $225k. 3 units are occupied at 575/mo rent. The 4th unit is vacant but that's good for me because to fully finance, I think I'd need to live in it from what I've heard on the podcast. My townhouse is in a great neighborhood, best school district in the area and in good condition. I pay $1075/mo for mortgage, insurance and HOA. I think $1360 would be a good rental price using the 1% rule.

 Sounds like a great situation. If I were you I would call up an agent tomorrow to view it. 

Thanks, Frank! I think I really needed the validation. I’ll call first thing in the morning!  

Post: So what's holding you back?

Staci CraftPosted
  • Posts 16
  • Votes 5
Originally posted by @Frank Patalano:
Originally posted by @Staci Craft:

@Frank Patalano

I’m afraid I don’t know enough to jump. I have a mortgage on my current home 130k. I could fully finance another, move into it and rent my current home out but is that the right thing to do? I don’t know.

So set goals to keep educating. 

It would be the right thing to do, IF you you can break even or make money renting your current home. Are you going to house hack a multi on your next investment?

Thanks for replying Frank! There is a 4 unit multiplex available 15 minutes from my home but in a different state. It's seems very affordable. They're asking $225k. 3 units are occupied at 575/mo rent. The 4th unit is vacant but that's good for me because to fully finance, I think I'd need to live in it from what I've heard on the podcast. My townhouse is in a great neighborhood, best school district in the area and in good condition. I pay $1075/mo for mortgage, insurance and HOA. I think $1360 would be a good rental price using the 1% rule.

Post: So what's holding you back?

Staci CraftPosted
  • Posts 16
  • Votes 5

@Frank Patalano

I’m afraid I don’t know enough to jump. I have a mortgage on my current home 130k. I could fully finance another, move into it and rent my current home out but is that the right thing to do? I don’t know.