All Forum Posts by: Brandon Barnic

@Mindy jensen there is plenty of parking also available. The garages are just an added bonus!

I'm approved for FHA financing. My broker told me that I don't pay him anything for his services. I was chatting with another investor and he said that I went to the "ferrari dealership" of moragage brokers. I just want to get this cleared up..

What do I use to compare costs from broker to broker?

Or will it cost me the same regardleas of where I go to get financed?

Thanks!

Seariously thinking about buying my first duplex. It's two apartments upstairs and four separate garages on the first floor.

If I rent out the garages for storage what type of insurance is available for me? Or is insurance something the renter would be responsible for?#askbp

I'm thinking of doing motorcycle storage, snowmobile, jetski storage ect. So I can really maximize the space.

203k multifamily is the way to go! Lookin to do it myself! 

@Thomas garza

I don't think it's weird to talk to the neighbors! when I'm out I talk to everyone! Ya never know where the conversation could lead you! I've found a few deals this way

This is great! I found it very helpful to be aware of the situation that I am in. I'm sure that is could be very helpful for both new and experienced investors alike! 

hey bps. 

Need help deciding what color I should paint the foundation on my first rehab property!

I'm between green, dark Brown, or the beige. 

I'd appericte your opinions! Thanks!

Also recommendations on window colors too? Thanks!

@Scott teran well, I think that being young is a huge advantage for me. I don't have kids. I don't have a wife to keep happy. I'm the only one that depends on my income. So, if I take risks it's not as risky? Lol. I can spend ALL of my time working on, researching, or looking at real estate. Plus as Brandon Turner always talks about in the podcasts most people like to help out the young guy. I have been told by owners that I remind them of there young selves. People love to help me. Not sure it will be that way when I'm 30, or 40.

Another aspect is that I'm a buy and hold investor. When I take out 30 year note I'll have it paid off in my late 40s early 50s.

Not sure who said it but I do like the quote" The best time to start investing is today or yesterday." well, for me, my today is while I'm 22 years old. 

Until recently I have lost motivation on my 1st rehab project. But, today realized my unfair advantage.

I think this could be a fun thread for everyone to share their unfair advantage(s)

For me it's the following:

My age: I'm 22 years old

My job: full time, pays great

Family: Avid do-it yourselfers, ready to tackle any project, anytime.

Credit: Good standing, low debt 

Current properties owned: Small single family that is in process of being fully renovated( way more work that I antipisated). Once it's done it will be leveraged to buy my first multifamily.

Friends: one it's very serious about getting into multifamily investing, another is very experienced with building homes.

I'm a member of Biggerpockets: I have this great community to learn from and share ideas on.

Approved for FHA financing: originally was planning on buying a multifamily to live in while working on current project but, now it's just incase I stumble upon a 3 or 4 unit that I can not pass up.

Many people have better/more advantages than me. For example a person  could be born into a family that already invests. They could be a contractor, they could have an experienced mentor, they could have a great deal fall into their hands, they could be an agent. The list is endless. 

What I'm getting at is that everyone has an unfair advantage. The best thing to do is to become aware of it. Then, develop a plan to use this advantage to get ahead of the game!!! Until today, I was unaware of all of the advantages I have over other people. The fact that we are all on this site is already an unfair advantage to a noninvestor. I mean this beceause we are operating at a level far beyond the level an everyday person operated at. We get the big picture. We have a plan. We have goals. We will get out of the rat race. We see money where others see a dumpy old house. We are building an empire to support not only ourselvs but, genorations to come. We will succeed. We are investors!

Please forgive any typos/ errors im usually not much of a writer. Just a bit amped up today and felt the need to share with my friends on BP!

hey folks,

The contractor came for my well. The house has been vaccent for 30 years. The contractor said I need to drill a new well. Something I do not want to spend money on. Anyone have and tricks to get it to produce water again? Thanks!