All Forum Posts by: Dan Guenther

@Christopher DeSimone

Welcome to the community! It is great to see your drive and determination to get started in the investing world. I'm not a lending professional by any means but depending on the size of the multifamily, you can get a conventional loan for as little as 3% down. I'd also recommend keeping your goals open as you learn. There are multiple strategies that can work to make single-family homes house hack for great returns right out of the gate (rent by the room, split level turned duplex, short-term rentals etc.) I'd be happy to connect and help talk through your ideas as they come up!

@Edwin Batte

Welcome to the community! 

I'd highly recommend taking advantage of all the free opportunities out there and especially here on BP. This is honestly a great community of like-minded people and most of us on here are happy to help out! This can be especially important when starting out. Start focusing on networking with people that are a few steps ahead of you and most of them will be happy to lend a piece of advice. Check out Meetup.com for local or virtual events, FB Groups focused on investing, and keep an eye out on the events posted here on BP. 

As always, feel free to reach out to me with any questions you come up with and good luck moving forward!

@Chip Martin

Welcome to the BP community! 

I'd like to second all the great advice here. I'm a fellow house hacker here in CO (Longmont). It is definitely possible to make the numbers work in hot/expensive markets like Denver if you're willing to get creative! I'm happy to connect and help out on your journey. 

@Tom Markoe

Welcome to the community and congrats on your first deal! In my opinion, it is best to get the necessary things done before having any tenants move in. Especially being from MN, replacing outdated major appliances (depending on how outdated they are) like water heaters/HVAC systems before they give out is not a bad idea. It's definitely a bigger headache taking care of these things while tenants are living there and when things do go out, they tend to go out at non-convenient times such as Christmas eve when it's 0 degrees outside and nothing is open. 

Just my two cents though!

Feel free to reach out. 

@Johnathon Mann

Welcome to the community! 

Check out the networking tab up top here on BP. I'd also recommend checking out investor FB groups for the areas you're looking for. If you are in the area then you can find in-person events at Meetup.com 

Hope this helps!

@Campbell Paine

Welcome to the community! I'm a huge fan of the house hacking strategy and would love to chat more if you have any questions. Feel free to connect and reach out here on BP with any questions or for specific advice moving forward. 

@Billy Davidson

Welcome to the BiggerPockets community! No matter where you stand in your real estate investing journey, BiggerPockets is the ultimate resource for all of your investing needs. I’d suggest starting out by networking with as many other investors as possible and be an active participant in the forums.

If you haven’t already subscribed to the BiggerPockets podcasts, do that ASAP. Look for meetups in your area (virtual) on Meetup.com or FB Groups, attend free webinars, start reading as much as possible on any and all topics related to investing and real estate. Use the forums to help you search for the answers to all of your questions. If you can’t find your answers, then create your own post!

Feel free to DM me if you want more specific advice.

Good luck and get educated!

@Stephen Jensen

Welcome to the community! I love the enthusiasm and drive you have going here. I'm always looking to connect with investors and provide any help that I can. Feel free to reach out and I'd love to share some knowledge with you!

@Saurabh Kukreja

Welcome to the community! Those are all very popular cities for out-of-state investors at the moment, so if that's the route you want to take then I'd recommend getting to know each market in and out! I'm not sure about your current living situation, but house hacking is a great way to get into the investing world in your town. For most people, their housing expense is one of the biggest monthly expenses, and if you can remove that expense it's crazy how quickly you can build wealth.

I'm always looking to connect with other investors and share knowledge. Feel free to reach out anytime!

@Andrew Agosto

Welcome to the community! Fellow MN native here. 

Not related to your question, but have you looked at alternative strategies such as rent by the room or turning a SFH into a non-conforming duplex? Those are two strategies that we use out here in the expensive Denver market to make the numbers work and open up more options.

Feel free to reach out if you want to bounce ideas back and forth!