New to Real Estate · Honolulu, HI · Member since 2019 · 42 posts · 16 votes
Aloha, everyone! Out of curiosity, what strategy (Fix & Flip, Rent, Wholesaling, House Hack, BRRRR, etc.) did you use when you bought your first investment property. I know there are so many variables to consider but I want to keep it as simple as possible. I am just eager to see what people usually start off with.
Real Estate Agent · Windsor Locks · Member since 2020 · 20 posts · 21 votes
5y
Hey Chase! I have not done my first deal yet but I'm am pursuing a house hacking deal, a live in flip, or possibly even a BRRRR. These types of strategies suit my current goals, lifestyle, and situation the best. House hacking at 25 with no kids is a lot easier to pull off than someone who is older, looking to settle down, and possibly has kids already.
New to Real Estate · Honolulu, HI · Member since 2019 · 42 posts · 16 votes
5y
@Amanda Jacobellis First off, congratulations on such a huge return on your first home purchase! I have yet to find my strengths but that is solid advice.
New to Real Estate · Honolulu, HI · Member since 2019 · 42 posts · 16 votes
5y
@Cheng Saetern I'm glad you found the post! But good luck with your investment journey. Put in that hard work and you can do it! Wholesaling seems like a great strategy to start with.
New to Real Estate · Honolulu, HI · Member since 2019 · 42 posts · 16 votes
5y
@Brian G. Interesting to know about the self managing aspect to it. Does this mean you don't utilize a property manager to overlook your property? Do you ever travel physically to your property when dealing with finding new tenants, or doing repairs, etc.?
New to Real Estate · Honolulu, HI · Member since 2019 · 42 posts · 16 votes
5y
@Jim K. Oh my goodness. What a story you have to tell! Interesting point about lipstick flips. I have never heard about those before. Is there a certain rule of thumb as to how much money or % of the home value that you would spend on renovations?
New to Real Estate · Honolulu, HI · Member since 2019 · 42 posts · 16 votes
5y
@Jeff White House Hacking seems like a popular strategy. Do you usually house hack duplexes or have you ever house hacked like a single family home with multiple bedrooms?
New to Real Estate · Honolulu, HI · Member since 2019 · 42 posts · 16 votes
5y
@Rachel Morrow Thank you so much for all of that information! Good luck on your current house hack. Those are some great lessons to keep in mind. Thank you again for sharing.
New to Real Estate · Honolulu, HI · Member since 2019 · 42 posts · 16 votes
5y
@Cathy Malmrose Hahaha very nice analogy. Good thing I love Uniqlo. So gotta find those Uniqlo houses now. What are some things that would make it "clear as day" if it is a better rental or better to flip it?