All Forum Posts by: Christopher Smith

@Craig Markhardt thanks for sharing! Looks like an awesome project, nice work!

@Joey Schad Similar to you I got the real estate bug in college. While there are definitely ways to get started without a W2 (normal job) having a steady paycheck will make house hacking mentioned earlier with a 2-4 unit or even some type of live in flip 100X easier. You will be able to take advantage of an awesome interest rate and learn/make mistakes in a more controlled environment. Don’t necessarily need to finish school but a steady income will give you more purchasing power and stability to take greater investment risks.

@Austin Wingett Awesome job saving up! I was able to take advantage of a HUD owned property for my first purchase as there is an initial period of time where only owner occupants can build. Check out this property in Sparta that just got listed. No idea how it's fits your criteria but buying a HUD foreclosure can be a great way to find properties that have a ton of opportunity that owner occupants can get first dibs at.

https://www.hudhomestore.com/Listing/PropertyDetails.aspx?caseNumber=263-524016&sLanguage=ENGLISH&zipCode=&city=&county=&sState=MI&fromPrice=0&toPrice=0&fCaseNumber=&bed=0&bath=0&street=&buyerType=0&specialProgram=&Status=0&indoorAmenities=&outdoorAmenities=&housingType=&stories=&parking=&propertyAge=&OrderbyName=SCASENUMBER&OrderbyValue=ASC&sPageSize=10&pageId=2

@Joe S. Absolutely!

@Nina Erickson not sure what you're market is like but why not make your first property be a larger house that you want that needs some work that you can get under market. A live in BRRRR type of strategy.

@Jonathan Smith Welcome to BP! I’m up in Sioux Falls but know nothing about the Sioux City Market. Looking forward to watching your progress.

@Zach Rozmarniewicz Not sure where you are located but a Rural Development loan can provide some targeted funds for a rehab.

@Nancy Wang As an insurance agent I’ve seen many of these do this or else situations. I would ignore it because more than likely it is not a legitimate claim. On the off chance it is legitimate that person will go through the proper channels and you will receive a notice/suit. If that happens call your insurance agent and lawyer to figure out your options.

@Lauren C. I think you’re on the right track with establishing a short term goal and educating yourself. I would continue the education along with connecting with other investors, brokers, etc. I would also put together a longer term strategy of where you want to end up. Beginning with the end in mind will save you many headaches in the future. Wishing you all the best!

@Macintyre Braun I’m in Sioux Falls as well and had a similar experience when I was getting ready to graduate college in terms of listening to the podcast and reading rich dad poor dad. I would highly recommend reading the BiggerPockets books on investing if you haven’t already. They will give you more detail on the ins and outs of whatever type of investing you may be interested in. I have most of them and feel free to shoot me a message if you want to borrow them. After that my advice would be to create a goal and work back from that to create your plan. Write it down and have an accountability partner. Once I did that I had more clarity on what I wanted to to and actually did something about it. Finishing up my first rehab now and enjoying every second.

Read. Goal. Plan. Execute. Hope this helps!