Shawn Questa
Hi all, Looking to Connect in North Dallas
28 January 2025 | 2 replies
Beyond trying to connect on this forum would recommend look in the BP Meet up section and checking out local DFW FB RE investor Facebook groups as well as Meetup.com and Eventbrite for local events.
Barbara Berta
LAIC in Cleveland
28 January 2025 | 2 replies
Hey Barbara, I have a property manager I can recommend for the LAIC service.
James Winchester II
1st flip, brick house with fire damage
31 January 2025 | 4 replies
Typically starting with a smaller rehab budget of $50K or less (maybe a max of $75K) and avoiding a 1 to 1(or higher) ratio of purchase to rehab costs is recommend when you are first starting out.
Dylan Fraembs
New Investor in Providence – Looking to Connect and Learn from Local Experts
31 January 2025 | 5 replies
If you're willing and able, I do recommend the "house hacking" strategy which is just a fancy name for buying a rental property and living in one of the units, because you'll get very favorable financing - an owner-occupied fixed-rate 30-year mortgage.I'd also say, analyze that property as if you won't live there and it's a pure rental, and make sure the property is still cash flow positive if there's a tenant in your unit because then you'll know if it's actually a good investment.And when you analyze it, include payment of a property manager in your #s because if you don't, and doing so would make it go cash flow negative, then you've just bought yourself a job because you literally can't step away from managing it without losing money.
Hank Bank
Starting My Real Estate Journey: How Can I Leverage a Paid-Off Townhome?
24 January 2025 | 11 replies
Nothing illegal about doing that, but if caught, the lender may call the loan due and if you don't correct the situation or pay the loan off, they willstart mortgage foreclosure.3) You could also go the HELOC route to tap the equity in the home, but the 12-month owner-occupancy will also apply AND the interest rate on the HELOC will fluctuate with the Fed Fund Rate.4) You could do a cashout refi as an investment property, but that will be at an interest rate 0.5-1% higher than owner-occupied rate.Suggest you meet with 2-3 lenders to explore your options about the above.Once you have access to funds, recommend you buy a 2-4 unit with 20-25% down. - You can buy owner-occupied, live in one unit, and fix up and rent the other unit(s).- If you're handy, recommend buying a property in the worst condition you can tolerate.
Emeka Okeke
Ready to get to it
23 January 2025 | 7 replies
I have two books to recommend, one podcast, and then one more summit happening in person in May for syndication investors.
Rolayne Taylor
New Beginnings 2025
24 January 2025 | 21 replies
Any recommendations for starting strong would be appreciated.
Drake Backman
Newbie trying to learn the ropes
26 January 2025 | 3 replies
@Drake BackmanBigger Pockets is a great place to find a tax strategist specializing in real estate taxation.A good real estate tax strategist can save you thousands of dollars by leveraging entity selection and formation, tax deductions, cost segregations, bonus depreciation and tax planning.I recommend finding a tax strategist specializing in real estate taxation, business taxation, financial planning and tax planning.Consider working with your tax strategist remotely to expand your options.I would also recommend looking for a tax strategist willing to work with you throughout the year.
Aaron Sommerville
Purchasing my first rental property in 12 - 14 months, any advice?!
26 January 2025 | 4 replies
I recommend you budget 5% of the gross rent (for the whole place, even what the rent would be if you were living in it as a tenant) for repairs and 5% for capital expenditures.
Tiarra Delaney
New to Real Estate Investing: Advice on Next Steps for Cash Flow and Business Setup
25 January 2025 | 6 replies
Are there strategies, financing tips, or resources you’d recommend for someone in my position?