All Forum Posts by: Andrew Hamilton

Steve Smith Welcome to the BP forum! Soak up as much knowledge as possible. The more active you are the more people answer your questions. Let me know if you need an agent! Cheers

I'm currently house hacking in Wyoming. I think that is a great way to get your feet wet. Since you have a family I would assume that isn't an option in your current home. BRRRR is great BUT you have to find good deals. In our area those are becoming harder to find. There are many properties that don't even get put on the market. The sellers have all the leverage right now. Also with this strategy you need to know about repair cost. I'm not talking about knowing how much paint cost the most successful people can walk into a house and within minutes know what it will cost to make it right. Example: the house across the street from me a broker bought for 90k. Put 30k sold for 165k. Whole process less than 5months. But he has done many many flips. Many of the cheaper houses under 100k that people are buying to flip or rent out, they use cash because they can move so much quicker. That saves you weeks of time buying and selling.

If you take a loan out you are responsible for the numbers. It is your money and your life. Nobody cares about those things as much as you. As they showed it in movie people took out multiple loans on a house. Nobody ran up to their door and said take out another mortgage on your house. Every time you get a credit card advertisement in the mail do you apply for it? People were buying houses they couldn't afford. To blame this on race is exactly what is wrong with our country. The entire country had real estate crashes. From the richest white Cali suburb to the poorest parts of the inner city.

I would recommed starting small. You can always go bigger. Smaller investment=lower risk, larger investment=higher risk. I'm just speaking from financial stand point. If you buy a place for a million you are going to put down 100-200k. More units is also more to take care off. The most successful people long term don't leverage themselves too much. I'm talking about people that made it through 2008 without losing it all. 

@Sean Larson Great to have you on BP! I myself am new to real estate. I'm currently house hacking and getting my real estate license. I will most likely be focusing on investment and commercial properties from an agent POV. 

Well hopefully your first experience with Cherry Hill is a good learning experience. Leverage is great until things don't work out. Not that leverage is bad, it just sounds like you have your hands full with the properties you currently have. What kind of cash flow is property 1 & 2 producing? I will send you a connection request in case you want to take this offline. 

@Account Closed thank you for the advice. I have seen that specializing is very common in commercial. Look forward to learning more from you in the future!

@Joel Owens Wow. That is what I'm talking about. Good for you Joel. I'm excited to learn more from you in the future. From what you are saying you focus on the buying side only. Or do you list properties as well? How did you start working with these individuals? That is an extremely interesting niche Joel.

@Account Closed Nice to have you on BP! People are extremely helpful on here. I'm just getting into the commercial and investment space from a agent prospective. A great way for me personally to get my feet wet was house hacking. By that I mean renting out a room or basement. I currently have over half of my living expenses paid for by a roommate. Keep posting and enjoy!

@Javon Mckinnon thank you very much for taking the time to reply. I appreciate the detail. It is nice to see that hustle pays off in any business. That is what makes the cream rise to the top. Congrats to you on your early success in the business. I look forward to connecting with you more in the future.

@Paul Timmins thanks for contributing to the post!

@Joel Owens really appreciate the insight. Thank you for breaking down the different categories like that for me. At this point the brokerage I'm taking most serious is part of Keller Williams. Keller as you know hasn't been a large player in the commercial space but they are starting to put a focus on it. With leasing commercial there is still a listing broker and buyer broker correct? How many years of experience do you have?

Thank you for your honesty. It is helpful to get lots of different prospectives on decisions like this. We are all in different markets, different stages in life, different background etc. So I appricate the feedback.