New to BiggerPockets

[Liam Cook]

Hello BP!

  I am "new" to the site (been reading intermittently for a few years) and this is my first post! I am settled in the Knoxville area and work at the one of (if not the) largest Building Materials and Hardware Supply stores in the area and have a great knowledge of the homebuilding/repair process, as well as the handyman/construction skills to do essentially anything in terms of rehabbing. I have also developed good relationships with local contractors and know quality workers.

Now that I have saved a little money and the lending rates and housing market could become very favorable, I want to break out into RE investing soon. Due to my time and monetary constraints, I see House Hacking as a potential doorway into the Real Estate Investing world. I think I want to pin down a house or multi-family unit within the next few months so I may seamlessly transition from renting to hacking and start REI on "training wheels".

I've listened to a ton of the available BP podcasts and read quite a few threads on the forum. From there, I've seen people find success on MLS or from wholesalers, but I am unsure of how to set alerts or reach out to wholesalers. Or how to even begin developing my funnel considering I am working with very little capital to fund a marketing campaign. In my experience so far, I've only run across people with one or two options that don't actually fit my requirements anyway.

 I know deals have been scarce, but I also know with the effort and determination I can put out, there's no reason or excuse for me not to find something to fit my needs. So, with that in mind, any suggestions on how to branch out or is there a suggested direction to go from here?

 Sorry for the length, but thank you for taking the time to read my post (more like a novel at this point) and I look forward to any replies or PM's! Best of luck and stay healthy out there!

Best Regards,

Liam

[Abel Curiel]

Originally posted by @Liam Cook:

Hello BP!

  I am "new" to the site (been reading intermittently for a few years) and this is my first post! I am settled in the Knoxville area and work at the one of (if not the) largest Building Materials and Hardware Supply stores in the area and have a great knowledge of the homebuilding/repair process, as well as the handyman/construction skills to do essentially anything in terms of rehabbing. I have also developed good relationships with local contractors and know quality workers.

Now that I have saved a little money and the lending rates and housing market could become very favorable, I want to break out into RE investing soon. Due to my time and monetary constraints, I see House Hacking as a potential doorway into the Real Estate Investing world. I think I want to pin down a house or multi-family unit within the next few months so I may seamlessly transition from renting to hacking and start REI on "training wheels".

I've listened to a ton of the available BP podcasts and read quite a few threads on the forum. From there, I've seen people find success on MLS or from wholesalers, but I am unsure of how to set alerts or reach out to wholesalers. Or how to even begin developing my funnel considering I am working with very little capital to fund a marketing campaign. In my experience so far, I've only run across people with one or two options that don't actually fit my requirements anyway.

 I know deals have been scarce, but I also know with the effort and determination I can put out, there's no reason or excuse for me not to find something to fit my needs. So, with that in mind, any suggestions on how to branch out or is there a suggested direction to go from here?

 Sorry for the length, but thank you for taking the time to read my post (more like a novel at this point) and I look forward to any replies or PM's! Best of luck and stay healthy out there!

Best Regards,

Liam

Hello Liam & Welcome to the BP forums! You're in the right place.

You have some great experience on your side that will help you no matter which strategy you use short or long-term.

That being said, if cash on hand is an obstacle, I'd strongly recommend house-hacking. You can get more bang for your buck by combining house-hacking with the BRRRR strategy.

Where to go from here:

-Find an investor-friendly Realtor - check here - members

-Get pre-approved for financing - your Realtor can recommend a lender or you can use the members tab to find someone in your market who has a reputation here on BP.

-Attend local meetups - meet wholesalers, investors, and other RE professionals Check Events for info on upcoming meetups.

-Find an under-valued property - your Realtor, wholesalers and investors will be your best sources.

- Set up keyword alerts so that you can receive notifications on topics and areas of interest!

Best of luck to you moving forward!

Abel