All Forum Posts by: Chaz Mathias

Hi @Ryan Dietrich, congrats on getting started so young and taking action. I think the 4 flex/ house hacking approach you too is perfect. Continue to learn and meet new people to help you take the next steps. It looks like you have already applied the knowledge from "Set for Life" by @Scott Trench. I enjoyed the book "Crushing It" by @Brian Murray

Hi @Richard Xiong is the projected rent increase based on value you know you can add or projected appreciation? I would be careful to project, however if you can add value that is great! I too am from California and know how hard it is to find a deal. It sounds like you have found a great deal if it is in good shape. I agree with @Nathan DeJonge, use a HELOC if you can as long as you don't feel over leveraged. Best of luck!

Hi @Shanae Williams, I agree with @Mike Dymski, find something that you enjoy doing or will drive you. Simon Sinek writes an excellent book about finding you "why". This is that thing that drives you and makes you jump out of bed, even during your darkest day. My driving force is my family and creating a brighter future for them. When you have figured this out, it becomes less about the daily work and more about your final goal. 

Hi @Gloria Washington we own a solar maintenance company in California and would be happy to answer any questions that you have. My first questions would be, are they installing "solar shingles" (which I would not recommend) or a standard solar system with the installation of the roof. Watch out for contractors or electricians trying to sell solar. They are not experts in the installation and will not know how to maintain the system. There is also a larger variation in the quality of the equipment and if the wrong system is sold to you, it could be useless. If he or she is suggesting to install the solar at the same time as the roof, this is wise to do, as the roof attachments can be sealed by certified roofer and the warranty should stay stay valid. As @Matthew Paul said, no one does anything for free and make sure the contractor knows what he is doing or you will be left with a headache. 

Also, have you thought about how you will have the tenant pay you month for the solar investment? I do not know of the best answer and would like to heard your thoughts. 

BiggerPockets! :) 

Here are some other blogs that you may find helpful.

https://blog.feedspot.com/house_flipping_blogs/

Learn everything you can. Do the grunt work now and build relationships. Stay humble. 

Hi @Karl Bright it all depends on the numbers. I would calculate the cash flow you could get from the rental property and then how much it would cost you to rent. All things being equal, I like the idea of buying a personal residence, fix up anything you'd like on the property and refinance and pull money out for your next property. 

Hi @Bryce Bradshaw, as @Aaron K. mentioned, a buddy system to keep you accountable. I have also found that reading books keeps me motivated towards reaching my goals. 

"Crushing It" by @Brian Murray, "Set for Life" by @Scott Trench, "How to Invest in Real Estate" by @Brandon Turner

Hi @Ana Barcellos all markets are very tight right now, but I have heard great things about the cash flow potential in Memphis, Indianapolis and cities such as Columbus and Cleveland in Ohio.