All Forum Posts by: Trevor Bogus

@Bill Williams thanks Bill. I have been thinking about a SFH where we could make the house into "two units", like a basement converted to AirBnB, or long term rental.

Thanks for the response!

Greetings from Southwest Colorado,

I am new to real estate and fairly new to this website, but the idea of investing in real estate ignites a passion in me. I have read a few books so far (Rich Dad Poor Dad, Set for Life, The Househacking Strategy, and a couple others) as well as tons of blogs and posts on here.

I want to start househacking and in a year turn it into a rental. However, in my area (as I'm sure tons of other areas), properties that meet the one percent rule don't seem to exist. I met with a lender and got pre-qualifed, but it's a high monthly payment due to down payment assistance and CHFA assistance. I plan on meeting with another lender this week, just to get a second opinion.

I have only looked at the MLS for deals, but in my area it doesn't look promising for the 1 percent rule. I guess my question/questions would be:

If a property doesn't meet the 1% rule do you immediately dismiss it? What ways have you been creative to make the 1% rule work? (Like Craig sleeping in the living room to rent out his room.) 

Any ideas or personal experiences would be greatly appreciated, or book suggestions too!

Thank you for sharing your knowledge!

@Neil Siljan thank you for your response. I will definitely have to check that book out and continue to educate myself. Thanks!

-Trevor

@Jim Blackburn thank you for the response. That was a nice breakdown of FHA and investing in a 4 unit. I definitely think I need to focus on multifamily instead of single family.

-Thanks,

Trevor

@Jens Nielsen thank you for your response and feedback on my post. 

I would love to connect here in Durango. I will send you a message with contact info and hopefully we can set something up anytime that works well for you. 

-Trevor

@Brandon Halley 

Thanks for your response! That's great that you were able to use your background in carpentry to get into real estate investing. Initially I ruled flips out, mostly due to having a closed mind, but also I have no background in construction or anything along that line. However I think flipping would be a great strategy to learn, I just started reading the BRRRR strategy file posted on BP. I will definitely reach out for help or suggestions, and I can help you in anyway I'd be glad to do it.

Thanks

-Trevor

Hello,

I am a newbie to Bigger Pockets and real estate investing as a whole. I have a goal of buying a duplex or triplex and living in one of the units. I have very little money to put down, so I was thinking of getting an FHA loan. What are the major drawbacks to an FHA? Also would I be able to get enough cash flow while living in my invest property to cover expenses, or does that vary from case to case?

Also I could have a true break even in this scenario I would see that as a good first investment, is that true?

Thank you all for taking the time to read this, I always appreciate everyone’s comments and posts!

Hello All,

My name is Trevor Bogus, I am 23 years old, and I am located in Southwest Colorado. I just discovered BP, I was browsing through business podcasts and came across Bigger Pockets and gave it a try. Now I can't stop listening, you guys do a great job of educating and keeping every podcast entertaining and fresh. I have no background in real estate other than a course I took in college. I have had an interest in real estate since taking that course, but recently through BP podcast and website I want to make it a reality.  My goal right now is to invest in a single family property by the end of the year. I would love to connect with others in my area or get some feedback on how people develop plans for their goals. I am trying to break it down into small doable tasks, but possibly lack of knowledge so far has held me back a little from knowing where to start and what the essentials are. Anyways I will continue to soak up as much information as I can through all the forums, blogs, podcasts, and possibly webinars. Thank you if you took the time to read this and especially thank you all for your posts and shared information!!