All Forum Posts by: Chase Watson

@Dan Sheeks

I also am from Colorado and would love to have some guidance as I move further into the residential real estate realm. DO you invest here in Colorado or out of state? That article was very informational on the steps I need to be taking now to qualify for a loan later on I really appreciate you sharing that. 

@Brenden Mitchum 

Thank you for your advice. I agree that it probably isn't smart to have a property I cant manage. I think my plan is to work this summer and into fall and learn as much as I can before buying hopefully in the spring. I'll definitely take the advice on how to calculate rent on room by room basis. Do you think when I'm ready to buy it makes sense to find a real estate investment agent in Florida to help find the best deals? I was thinking about getting my real estate license while guiding so I wouldn't have to pay the 3.5 percent buyers fee but I didn't know if an established agent would be able to give me better deals that aren't on market? 

Thank you!

Hello,

This its my first post on bigger pockets forums hope y'all could give me some insight. I'm a senior in high school with some money saved up from working and assets. With parents with credit scores that could co sign for me (if they agreed with the investment as well and would be ok with me not there to manage). I am currently planning on guiding (working without expenses) from June-February to earn more money. I found a property near a large college in Florida that is 6 beds 2 1/2 baths for 306k (single family). Thinking of the possibility of doing a low down payment option 3-10%. I was interested in the "boarding style" (renting out each of the individual rooms) as it seems it could bring in much higher month to month rents. How would you go about calculating that type of rent per room? Take the single bed average of area and taking a few hundred off as it would be multiple people in one house? Also is it harder to rent out individual rooms in a single family? I also wouldn't be able to manage the property myself until around February is it better to wait to start until I can do it myself or are these different apps and services really enough to manage from afar? The neighborhood its self seems to be a bit higher crime and lower property prices but there isn't a house even close to this price for the size. Property has been on the market for around 20 days so maybe there is something big I'm missing. Talked to Realtor and there are no serious issues with property needs a small bit of rehab but nothing insane in my opinion. Any help or advice would be greatly appreciated as I'm obviously very new to real estate game. I want to get in and start a portfolio as soon as possible but also want to be smart about it and not fall on my face... 

Thank you!