All Forum Posts by: Ty Ash

Hi @Vidal Gonzales!

I'd recommend that you keep/start learning! Podcasts, Books, and Mentors you find by networking.

I'd pick up a copy of Set for Life by Scott Trench as it has a good framework for financial independence, especially for a newer investor. Real Estate is just a part of your total financial picture so don't become too focused on just real estate. You'll want to learn more ways to increase your income now and in the future, keep your expenses low, and take the difference to invest into assets, real estate/business.

If you're heading the route of investing out of state, make sure to connect with an agent that's experienced with investing and can coach you through the numbers (but make sure you fact check them). Also, make sure to interview property managers so that you have at least two points of views on any deals that come across your desk.

Best of luck getting started! Here for you with any questions you have along the way!

Come join us for some live music and drinks in the Keady Plaza in The Mayfair Collection. There will also be yard games and time to network and connect with other clients and investors. Hope to see you all there!

Hi David!

Hope that these recommendations help!

Podcasts: BiggerPockets Money, Choose FI, Bigger Pockets Real Estate (loving the seeing Greene episodes recently), On the Market (also BP)

Books: Set for Life, Rich Dad Poor Dad, E-Myth Revisited

I believe that rounding out your total personal finance education is important to finding and maintaining success. It's easy to think that the next book / podcast show is going to be the key to unlock the next door/deal. However, once you've committed a few months to education and networking where you'd like to invest, you will need to pull the trigger. 

Best of luck and I hope to get some updates as you make progress towards your first deal!

Thank you to everyone who came out! It was a blast getting to see you all and loved the energy. Will let everyone know when the next meet up is!

Thanks again!

Hi @J Raj!

I'd recommend that you keep/start learning! Podcasts, Books, and Mentors you find by networking.

I'd pick up a copy of Set for Life by Scott Trench as it has a good framework for financial independence, especially for a newer investor. Real Estate is just a part of your total financial picture so don't become too focused on just real estate. You'll want to learn more ways to increase your income now and in the future, keep your expenses low, and take the difference to invest into assets, real estate/business.

As already mentioned above, a house hack will probably be one of the best strategies for you to get started and take action while giving you a great return because of the low % down needed to get started. Once you get to this point make sure to run your numbers for both while living in the house hack (lowering your living expense to less than what it would be to rent in your area) and post move out where you need to be at least break even after accounting for your monthly payment + maintenance, capex, vacancy, property management.

Best of luck getting started! Here for you with any questions you have along the way!

Hi @Christian Saastad!

Just like others here in the thread, I also got my start with house hacking, specifically in a duplex. Then my girlfriend and I did the same but with a single family where we were going to wall off a portion an AirBNB (but COVID). We stayed there for about a year then rented it out long terms and now are in our first live in flip that really just needs an updated kitchen and flooring. We'll likely stay here for a few years and then either sell if the market maintains its momentum or rent it out as the numbers work for that as well.

There are so many options to invest in real estate outside of just the traditional buy and hold. Using you owner occupancy abilities is one of the best ways to keep on growing your net worth and equity that you will be able to tap into in the future. Otherwise, keep listening to the podcast, focus on building your relationships in the market you'd like to invest in, and take daily action to move towards your next deal.

Best of luck!

Hi @Doolan Wesley!

I agree with @Charles Clark that your choices is going to depend on what you'd like to accomplish/your goals. You're sitting in a good position where both of your options you presented are possible.

I like option 1 a little more in general because of the area, appreciation potential, and it sounds like you'll be cash flowing. Unless you have another deal/opportunity lined up to use the proceeds for, this seems like a strong option. If you're hoping to be a little more passive, maybe consider using someone who does arbitrage since it is in a good area for STR.

Best of luck!

Hi @Rishab S.!

I'd recommend that you keep/start learning! Podcasts, Books, and Mentors you find by networking. You're at a good age to work for someone else and start earning an income while learning from their business and experience in a field of your choice.

I'd pick up a copy of Set for Life by Scott Trench as it has a good framework for financial independence, especially for a younger investor. Real Estate is just a part of your total financial picture so don't become too focused on just real estate. You'll want to learn more ways to increase your income now and in the future, keep your expenses low, and take the difference to invest into assets, real estate/business.

As already mentioned above, a house hack will probably be one of the best strategies for you to get started and take action while giving you a great return because of the low % down needed to get started. Once you get to this point make sure to run your numbers for both while living in the house hack (lowering your living expense to less than what it would be to rent in your area) and post move out where you need to be at least break even after accounting for your monthly payment + maintenance, capex, vacancy, property management.

Best of luck getting started! Here for you with any questions you have along the way!

 Sounds like a plan!

Hoping to meet up once a month to just hang out! I'll make sure to keep posting it here on BP!