All Forum Posts by: Brandon Nicholls

@Brian Puebla oh yeah i completely glazed over that! lol Hope i helped!

Hey @Brian Puebla, interesting situation. i can kinda relate as a fellow young buck! If you decide to house hack the duplex (live in one unit and rent the other(s). Then the bank would more than likely give you better terms (little hazy on this but i think lower % down or interest rate if you do ). Then hopefully it'd be a even better deal which id suggest using your own capital for the house (even if you didn't househack).  Now at the moment my partner and i are trying to find out how to afford a deal given we don't have more than 6K combined in savings and we live in Socal So logically we thought private money and looking farther into it it can cost alot more in terms of money to try and save your bank account than to actually just buy it using your bank account. A few reasons are there are what i believe "points" which correlate to fees with private money lenders (in the 1000's most of the time before you even have the loan amount. The other thing id look out for is will the loan affect your credit at all (especially if its good right now) and whats the interest payment look like on said house with a private money lenders 10%-15% interest rates. Could you afford it? Would it take most of your income and savings away? But being a newbie (studying for 6-9 months now) i believe in my limited expertise that you should use your own money. Sounds like you got a pretty good deal going on right now and your able to make quite an income with your current job with minimal monthly expenses i presume so a mortgage payment that you can afford (do the math beforehand ) wouldn't be the end of the world for your income  especially if you had BOTH places rented out. Just be cautious if a repair is needed can you use credit cards or some other form of funding to pay it off and the mortgage at the same time Do the math and the due diligence That's my 2 cents on the subject nut like i said do your due diligence!!!!. Lemme know if i confused you anywhere i know this is a long response. Hope i helped!!!!!

Besides the ones you mentioned the ones that come to my mind are LoopNet (heard from others not very great) and the MLS listings. cant think100% at the moment but that's what I remember. Hope it helps!

Hey @Cynthia Portillo I was a social media marketing agent for a while and to be honest its ALOT of trial and error you split test ads for different reasons see the working ones and increase the budget on those while you kill the others and then rinse and repeat. It can be a lot harder sometimes too to actually get results but If  you got spare cash try some ads get acquainted and always be learning the algorithm changes constantly on Facebook and by association Instagram. But in my experience it does work I've seen colleagues of mine have business blow up because they got great results but everyone generally charges a lot for their services. So its up tp you I'd try yourself first and you got to spend some money (50$ / week would be a good start) first to be able to get results. One last tip when your making the ad DO NOT let Facebook recommend you budgeting or location or anything like that they are 100% in it for the money not to help you unless you do it yourself Hope it helps! 

If my memory serves me correctly I remember in a recent podcast I listened to the one and only

@Brandon Turner talked about this subject and said that it depends on the person and the training they are providing it is the path for some people not myself but hopefully someone else will  give you some personal insight soon. If i were to decide id do these things 1. do your due diligence! See what reviews you can find about whoever your thinking about joining and see what actual people on a 3rd person platform like bigger pockets would say. 2. As I learned from a mentor that a lot of other people "have" including myself as well is everything on that course the information, the processes, even the citations are all information you can find either on bigger pockets, the internet or books. Is the time you'd spend looking for that information (asking people on BP etc.) worth the cost of the course? Would it be 8 months of your paycheck gone or is it 2 weeks of working to pay off? It truly depends on your preference and circumstances hope this helps!

Why not house hack on the East coast? Live for free or extremely reduced living costs while you decide what to do with the rest of your gains after you use a 1031 exchange to buy whatever property on the east coast you decide to live In that's a duplex or bigger?

Hey Mark, I think it has to do with your personal situation. I'd run the numbers on the property your looking at or one you would be considering and see what everything comes out to. Can you pay off the conventional loan if your vacant the entire time? How long would it take to save up for that property using your own funds? What would my APR be on the house I'm looking at and can those payments be made with relative ease. If you can pay off a conventional loan just fine and the loan process would take less time than if you were to save the money yourself than id say go conventional to save your most precious resource TIME. If you run a nightmare situation for your property using a conventional loan (termites come, toilets break etc.) Will everything be okay? if so conventional.

All in all make sure you could afford everything if anything goes wrong including your mortgage payments. If that holds to be true go conventional that's my view on the question. Hope it helps!