All Forum Posts by: Thomas O'Donnell

 All cops get are hate. Plus I'm not interested in putting my life on the line everyday. My dad was a cop for over 20 years and always steers my brother and I away from it. You aren't respected, you risk your life and in some places the departments don't function right (corrupt). I love my police, but I couldn't be one. The idea is moving to something more RE related lol.

So I am currently working a full time job and the pay is better than almost anywhere in the area for someone without a degree. However, it is warehouse work and I do not enjoy the job. I'm never happy to go to work and all shift I am constantly stacking boxes and moving heavy stuff; it is very physically demanding. I really want to get into doing some work related to real estate, whether that is getting into property management, leasing, home inspections etc. I love real estate and I am really passionate about it, but I know I would take a pay cut if I left. I feel like working in something real estate related would also help me build a network or make some connections within the RE game. Should I tough it out and stay, or take a pay cut to find something RE related that might make me happier and help build connections? Or should I try to look for something to do on my days off and eventually transition over to that full-time? I have thought about doing work for free in something RE related just to learn more and expand my network if someone is willing to teach/train in something. I am in a tough spot as the income is good for this area, but I am unhappy and unmotivated at work. If anyone has some solid advice for someone closing on their first rental and dealing with this dilemma please respond. Thank you!

 I'm currently trying to close on my first one but I want to build a big portfolio within the next few years and I am looking for ways I can get that done.

Do you have any recommendations? 

Has anyone ever used RentRedi to manage their property? I am buying my first duplex and I feel like it could be a good option for me to use to stay organized. Would love to hear your thoughts on small management software!

What's up guys! I am currently in the process of closing on my first duplex that I will be house-hacking. My question today is, when should someone start looking for their next rental? How have some of you been able to finance your second rental, if you haven't owned your first one for long? What should stop someone from getting another rental, or push them forward to be trying to get another deal? I am currently 24 years old and I have told myself that I want to be retired by 30 via MFH investing (I know, sounds crazy!). So even though I am only closing on my first rental, I am always going to be looking towards the future and planning my next move in advance.I  want to scale and build my portfolio fast in a shorter amount of time as usual. Thanks for any responses! Appreciate ya'll!

I actually just moved out of the Bay Area to Columbus, Ohio a month and a half ago. I am pursuing my RE investing journey out here and there is so much potential! I love it here and the midwest/Ohio in general is a place that is seeing steady population/job growth as well as business relocating here. I am supposed to close on my first duplex at the end of this month! I worked with a lender who does 2-4 unit lending with 0% down. AND I'll be getting 3% seller credits at closing, more than enough to cover closing costs and minor repairs. Good luck on your journey! Always use free money if you can! Best way to invest in RE is with OPM (other people's money). 

Also my personal opinion at the moment is that listing prices will start to drop a little, but demand is still high. Id buy sooner rather than later. It could be a good move to get into a place in CA, then later use a HELOC and purchase out of state. But I would recommend getting into a duplex in CA if you can. You'll be able to make income from the other side and lower your cost of living as well. This will also help you learn the ins and outs of owning/managing rentals as you will be right there going through it. Then whenever you decide to move out of the duplex, you'll have two units rented and buying that out of state rental would then make it 3! It would be a faster way to scale if that's in your future plans.

What's up guys,

I am looking to close on my first duplex within the next month and I am in need of some advice. What is the best way to keep track of all income/expenses? Should I set up a new bank account for just my rental property? Is there a landlord software I can use that will serve as a portal as well as keeping track of income/expenses? I am hoping to stay organized and keep all rental money separate from my personal funds. If anyone has some advice for a first-time landlord it would be greatly appreciated! Thanks to all!

What's up guys! I'm very close to closing on my first duplex, and I am wondering what types platforms/services you all use for screening tenants and managing your properties. I want to make sure I can get some good tenants in there and be able to effectively manage the property as well. I will be living in one side which makes it a little easier. Hopefully some of you are willing to share some tips! Thank you!

I just moved to Columbus a week ago to start house-hacking. I have not yet bought anything but I am currently searching and going through my pre-approval process. Thank you for this post as it was very informative and I did not know this is actually how it works out here. I have been looking at mostly 3 bedroom SFH and planning to rent out two of the rooms. With what you are saying, I can legally rent out the other two rooms correct? And nothing would be required of me such as obtaining a certain license?