All Forum Posts by: Timothy Douglas

That's a great investment, congrats!

Yeah I would go for the house hack because it is always a great way to get your first investment property bought, and you would be able to cut down your living expense which would help you save more for your next property!

I would honestly take the time to make sure you have some form of stable income. If you can farm up 2 years of consistent work history, you can get into a house hack pretty quickly. Plus, I'm about to graduate college and I tried doing the whole real estate thing without being able to pay bills with consistent income. It was stressful and nothing got done for years. My best advice for you is to decide what you want from real estate.

What types of property do you want to buy?

How do you want to buy them?

How are you going to make money post grad to further invest in Real Estate?

How much time do you want to spend on Real Estate each week?

These are some questions to get you started. You know what they say, a man without a plan is a man who plans to fail. I agree with @Jonathan Greene that you should find a mentor, but make sure you find one that is in something you THINK you might actually want to do if you're going to give them your time for free or minimum wage amounts. It's easy to corner yourself into a job you don't like, but you also don't need all the answers right now. Basically, write down some goals on what you want your life to look like and contact people around you in the niche you want to be in. If you want to talk more about it just PM me!

 If networking was the one thing you had to do to build your business. How would you do it? You don’t have to be a master at it, just ask yourself how you can take the very next step!

 My biggest thing is network. My second biggest thing is find a beautiful deal. If you find a really good deal you can leverage it with money from lenders across the nation. What do you do for work rn and do you own your one bed or are you renting?

Have you thought about finding a partner to fund your transaction with you? It might work out well. Also, could you make your current residence a house hack by renting out some of the rooms? 

I would get pre-approved first! I would also shoot for a house-hack that needs some work so that you can BRRRR it and get more equity and cash flow in it. These are all great questions to ask! As for banks, just call all of your local banks and ask them about buying a home. I'm sure they will connect you with somebody pretty quickly. I'm going to be an agent in Austin here pretty soon, so if you want any help just let me know! I would love to talk more about it :)

Basically, House-Hack BRRRR on an FHA loan or an 80-10-10/80-15-5 loan is ideal! Pre-approval doesn't take long at all. Your lender can help you out with getting the best financing for sure.

As for information, I would start with just reading some of the books on Biggerpockets.com... The one on house-hacking might be great since it's the easiest way to get into your first investment property.

I absolutely think that it is still a great idea to buy in Austin. The city has a lot going for it and will continue to appreciate IMO. Also, if you buy right, you can cash flow too.

Hey Manju! That's hype that you got a house hack in Seattle. I would love to take the time to chat and talk about your goals and see if we can find somebody to help you! I'm getting licensed right now and will be working in Austin, so I'm looking to connect with individuals too :)

I would honestly niche down and start networking. I'm a young guy about to become an agent in Austin, TX myself. I thought about cold calling FSBO's and Expireds by getting their data through REDx. I'm pretty sure it'll provide everything except the email address. You could also collect the names addresses phone numbers and emails from 50 people on any social media site if they're a real estate professional. Network with them and ask if they have any dead leads they could send you. Honestly, there are so many ways to do it. However, I would urge you to not work with somebody that questions whether or not you can succeed at a young age. It'll be hard, but that's all the more reason to be around people that encourage and teach you, not people that put more challenges in your way. I would switch brokers if I were you. I'd love to chat with you and figure out what you're passionate about so that we can turn that into a real estate business. I found my passion with helping people who want their first investment property get into a house hack and now I'm building a business around that as well as helping people that fix and flip homes sell them. Let me know if you want to chat!