All Forum Posts by: Christina J.

Welcome, @Brennan Doherty! Your motivation and drive are inspiring to witness - thanks for sharing your plan for your REI career.

Lots of good advice already shared in the comments here, so I'll just say it all comes down to the life you want to have. I'm a little partial to house-hacking, but that's because it's what works for my life. But you have to decide what works best for you. If you're going to get a job in finance and have to buy a house anyway, house hacking makes a lot of sense. If you want to get your RE license and skip straight to a full time career, apartments may make more sense. 

Both are great options and can be very profitable. Keep us posted on your journey - you're one to watch!

Welcome, @Chris Knes - I don't have any particular insights on the European market, but I've seen some posts on the topic - if you search by market, I'm sure you'll find some folks on BP with good insights.

So happy you found Bigger Pockets, Chris - keep us posted on your journey!

Welcome, Mike! Those calculators are priceless, right?? That and the podcasts have saved me many times....

Best of luck and look forward to following your journey. 

Welcome, @Kevin Luk! You've definitely found your tribe here in folks looking to move beyond paycheck to paycheck living....and don't forget to subscribe to podcast - linked in Marlon's post above - they will be a wealth of education for you!

As to your next / first steps....If you haven't already, I would recommend that you start talking to lenders (banks, mortgage brokers, credit unions, etc.) I'm not sure what your financing strategy is for your early phases, but it will save you time and money in the long run if you're familiar with all your options now. And be sure to check with folks other than your family banker (where you carry all your accounts) - you'd be surprised how much price / term shopping can save you on each deal.

Best of luck to you and I look forward to following your journey!

Welcome, @Aaron Hess! And thank you for your service....

Sounds like you have a solid plan for pursuing your REI career - I agree with Dmitriy that BP has great resources available to you. Personally, I found the podcasts to be a huge source of education when I first started my journey - if you haven't subscribed yet, I can't recommend it highly enough.

Best of luck to you and look forward to following your journey!

Hi, @Michelle T.! I'm so sorry for the frustration you're experiencing. Are you working with private lenders, or through a bank? If you qualify for a traditional mortgage or loan, it may be worth the extra layer of fees and work to go the traditional route for your first few deals. 

Are you a member of your local Real Estate Investors Association? That is usually a good way to meet reliable, like-minded folks who can contribute their experience to your journey, as well.

Don't let this setback put you on the sidelines - hopefully in 5 years you'll be here in the forums sharing your story with newbies as a way to encourage them in their early challenges. 

Keep us posted!

Welcome @Anna Bielawski! You're way ahead of the curve if you're already in a house hack! If I started my REI journey over again today, I would house hack early and often.

Congrats on the great work and look forward to following your journey!

Welcome, Robert! Sounds like you've got quite a few good options for launching your REI career. There's so many ways to make it work, that I hesitate to advise on the "right" option - it all depends on your risk tolerance, appetite for leverage and long-term goals.

Personally, I'm a fan of smart leverage. If you can get conventional financing at a fixed, 30-year rate, that's tough to beat. If you haven't already, it would likely be worth your time to start having conversations with some of your local bankers / credit unions about your options around conventional financing vs. HELOCs and refinancing options. 

Best of luck to you, Robert - look forward to following your journey!

Welcome, John! Sounds like you're doing all the right things to position yourself for your first purchase.

I couldn't agree more with @David Cruice - I think it will be important for you to find a local bank / credit union to build a relationship. And the FHA owner / occupant loan (house hacking) is a great strategy. If I started my real estate investment career over I would do it early and often.

Finally, when you purchase your first property, strongly recommend having some cash reserves to protect yourself from problems that may arise. I just listened to a Bigger Pockets podcast where the guest talked about a multi-unit property he purchased and projected $50,000 in renovations over the first 6 years. He ended up having to complete all repairs in the first 6 months or so. A little cash cushion is a good bet for you right now.

Best of luck to you and I look forward to following your journey!

Welcome, Taylor! Love your analogy about turning your savings account into a money making machine....I have the same mental picture....all my little dollars are employees working every day to make money and bring it home at night. It's silly but it works when I get into analysis paralysis!

You've plugged into all the right resources on BP and Youtube...I agree with previous posters that connecting with your local Real Estate Investors Association (REIA) will give you face-to-face contact with a network of folks with great experience and wisdom.

Love your attitude - look forward to following your journey, Taylor!