All Forum Posts by: Tanner Johnson

@Gabriel Guerrero sorry for the late reply. So ever since I was 14 I have been a religious saver. I worked full time in summers and part time during the school year. When I was 16 I had 30k in cash. My grandfather is a big property owner in my area and he encouraged it. So I bought some vacant land in a good part of town for 10k (steal) and with every dollar I made I would spend on building material to build my first house. Working as much as I can by the time I was 17 1/2 I had a whole house and i just put it together with cash. Then over the next two years I built 3 more using financing. I did all work myself with a few hired laborers. But my experience is unique. If I wouldent’ have another income stream there is no way it would work.

@Gabriel Guerrero

There is no problem starting at 18, I started at 16 and now own 4 sfrs. But there is absolutely no way I could have done that with out other income from a job. It will be a long time before you will make a living on real estate cash flow wise. You have to prioritize a career path that will provide income. Trust me I get it, you want to get in the game, but focusing solely on leverage without any source of income is a very dangerous way to start in this game. Not mention how difficult it will be to get a bank to work with you.

@Gabriel Guerrero

Coming from a 19 yo investor take this with a grain of salt.

Especially being in your 20s I would focus on being autonomous. Your first focus should be getting a stable income from a job. Once you have that accomplished then would be a good opportunity to house hack but you have to get your career on track first.

And until you say your vows I would keep your girlfriend out of it. It would get very messy if things go wrong.

I hope someone a bit older and wiser than I chips in. This is just my objective view as a peer to you. Figure something out career wise before you think about RE investing, even with a house hack your taking on a pretty big risk without another income and you may have trouble getting banks to loan to you.

As I said I would definitely talk to your girlfriend about it, but I would try to stay independent because if you go in together and something happens it would get very messy. Good luck

@Nicky Reader I know electrical is a big deal. That’s why I only trust myself to do it because I know I do it right. It’s going to be my house for a long time and I wouldn’t do it if I knew I couldn’t do it safely and to code. My job would look just as good or better than the electricians. Same for HVAC. These are going to be my tenants in my house and the only one I trust with their safety is me. I would never put anyone in danger due to ignorance or negligence and these people know that. Their safety is not the priority of the city, lining the pockets of the people who lobby to force capable homeowners to hire them is.

@Samuel Pavlovcik I’m not sure that the city’s interest is things being done safely and properly. I can make everything completely compliant with the code just like a contractor can. It’s all about the money and people you know here. The only reason they require this BS is because the people with the licenses lobbied them to. I can not stand the government forcing me to hire someone for something I can do safely and efficiently myself. It’s not right.

I am new to RE investing following my family’s strategy of building properties myself (no contractors) and holding. I was super exited to get started but I’m already sick of dealing with the dictatorship at the city. As of now I have 6 houses planned to build, property bought and all blueprints done. I have done all the drawing myself and has all been approved by inspector. I have been involved in all facets of home building before and I am very proficient and capable of doing every part. So I go to

Turn in my permit application and the lady tells me I must use an electrical and a mechanical(HVAC) contractor to install all of the electrical and HVAC. Since when does the government have the right to FORCE me to pay someone else when I am completely capable and able to do just as well as any contractor could. So please someone tell me, is it even lawful for the city to force you to pay someone to do work that you can easily and adeptly do yourself? If it is, this is no longer a free country. Also, has anyone ever found a way around this?

Thank you for your time

,Tanner

Thanks man. Just being very patient waiting for really good deals on materials probably saved me 50k trust me it was hard pretty much allocating all of my cash I was making and no one else understood the point. Super happy I did it because it gives me a great foundation to grow. Thanks for the positive feedback its good to hear.

Hi, my goal is a 1m net worth by the time I’m 25. I am currently 18 and just finished building my first property a week ago all with cash. Appraised at about 190k (took about a fourth of that to build it, my secret is I’ve been buying up Material when it was on sale for low prices over the course of the last 2 years since I was sixteen) then i just put it all together. Personally just really wanted to own the first one free and clear and now it’s renting for 1200/m I’m not sure if that was smart or dumb but it makes me feel safe. I’m getting ready to build 3 more identical homes on the same property with leverage over the next 2 years. May have to get creative to reach my goal but getting creative has never been an issue for me. Great topic great answers.

Personally there is nothing I would hire a GC to do. Even it it takes me a bit longer I know exactly what is going on and I'm learning in the process as well as saving a whole bunch of money. Mistakes will happen, don't give up, learn from them and soon enough you'll be doing all your contractor work yourself with ease and dexterity.

@Jim K. You miss the point completely. The argument isn’t whether we should be social distancing or not, I am also “ all about social distancing.” But I am highly against government forcing liberty infringing orders on its people. To conclude, yeah Ben May have been all about social distancing, but I can assure you he would not have been all about government infringing on the liberties in the name of temporary safety. You’re missing the point completely.