All Forum Posts by: Bryan Balducki

@Joseph Humphreys I use Facebook marketplace as my number one place to market properties. Second would be Zillow or Craig’s list for me. I use Zillow or Cozy to screen tenants and that will charge them $40 for an application and full screening.

@Jared Webb the entrepreneur roller coaster and the compound effect by Darren Hardy are great! Miracle morning millionaire with Hal Elrod and David Osborne is life changing! Also loved traction by Gino Wickman. All of the bigger pockets books are solid as well. Drive your way to success, hope this helped!

@Izzy Zeigler the third option is to tell the tenant you will attempt to find a replacement, but if you cannot find one, then they are on the hook until a suitable tenant can be found. I would list the room right away so you can filter through the best candidates with ample time. I did this with a tenant and found a new one a couple weeks after he had moved out, so I still charged him for the days in between and he was more than okay with that.

Allowing the tenant to find a sublease can be tricky but could also work and make less work for you, though I’ve never gone that route. Hope this helps!

@Matt Roberts awesome that you want to get started! I have family doing great with short term rentals in the panhandle area of Florida. I am an investor friendly realtor and house hacker in Denver, and I am always down to connect. Very familiar with the BRRR strategy also. Find yourself a great investor friendly agent in the area you are interested in and I'm sure you'll be able to find some deals. BP podcasts help a ton with the learning curve as well. Good luck!

Hey BP folks!

My name is Bryan Balducki and I just bought my ticket for the BP con and this will be my first. Will be staying in the hotel also.

About me, I am a 3x house hacker! Always trying to network and make new friends with like minded individuals such as yourselves!

Looking forward to meeting as many of you as I can. See you then!

@Ashley Martin meetups are run differently, some more casual and some formal. I’d suggest going the casual route to start. Look for a good place to host your meetup such as a bar or park. If it’s a bar, check with the manager to make sure they have the capacity. Then I’d suggest making it official on the meetup site. Market your meetup on social media, bigger pockets and with your friends. It would be easier to go with at least one friend if possible. Talk to others about your meetup and tell them you will remind them. Don’t be discouraged if not many show up to the first one since you are just getting started. Over time, your meetup will build traction. Good luck!

@Jayden Hamilton the stress test is important because it finds areas where you might be weak when it comes to your investment abilities. This is to prepare you for market fluctuations and look at how an investment would perform in a market crash scenario and test your ability to withstand vacancies, lower rents, or a decrease in home values. It will look at your reserves and see if you can cover when a situation arises. It is not to scare you but prepare you for the worst. Don’t let this lender scare you, because he does not have a crystal ball and no one knows what the future holds. Just make sure you do have adequate reserves for your investment and a backup plan. Hope this helps!

@Sean Jones you can do either. As a house hacker, I prefer ready to move in houses that have many bedrooms to rent out or can be duplexed at some point. If you are less comfortable living with people, I'd suggest going straight for a duplex-triplex and then live in a side for a year, rinse, wash, repeat. If you are both up for a challenge like a flip, remember to consider margins/rehab cost/lending requirements etc. and read the BRRR book by David Greene. House hacking is great because you can qualify for a low interest rate loan and move out/repeat each year. Read the House Hacking Strategy by Craig Curelop for help with this. Take some time to decide what is best for you both, as one method will fit your goals/preferences/location better than the other. Hope this helps!

@Angelo Tafoya I am an investor realtor in the Denver area and go to as many meetups as I can. There is actually one this evening called “the house hacker meetup” at Rino Beer Garden from 6-8. We would love to have you. July 30th is a Boulder County Investor meetup from 6-8 at Wibby Brewing in Longmont. Every month, there is a investor meetup at improper city so keep your eyes open for that, details are posted The FI Team group on Facebook. Don’t miss the Bad *** RE investors meetup every month at Rino beer garden, which can be found on meetup, next one is August 9th at 6pm. Finally, an associate and myself will be starting the Sloans lake house hacking meetup very soon, so keep your eyes out for that also. DM me to connect and I’ll keep you informed.

@Jonathan K. Condos can be tricky but could work depending on the HOA. My first deal was a condo and I used air bnb to short term rent it, to later realize 30 days and under renting is not allowed. This wasn't my original plan with the deal, I just had to cover my mortgage when I realized at a young age that half my income was going to a house payment. I transitioned to long term renting, which caused me to break even on the entire deal. Although some would say this is a bad deal, it was actually my best deal because I learned so much and gained confidence for the next deal. I now have a friend living there and the management for this condo is hands off due to the HOA taking care of most everything.

To summarize, cons are that HOAs have control and can limit rentals/increase dues etc. The pros are that I have now gained 5 years of equity not including appreciation, the HOA covers most management tasks, and it gave me the confidence to get my second deal. The experience was golden for me, and I would never take it back.

You could get a 2 bed 2 bath and rent out half to a friend which is still house hacking.

This starts your house hacking track record. Due diligence with HOA documents is a must.