All Forum Posts by: Duncan Hayes

@Hector Diaz yes sounds like house hacking would be a great start for you. You would be able to occupy one unit, while the other one or two units pay for your living expenses. This would allow you to continue doing what you're doing, just in your own space.  

@Yelena Willingham definitely check out “Multifamily Millions” by David Lindhal

What kind of investing are you looking to do? I think the book recommendations would rely on that info. I don't want to tell you to read "If You Can't Wholesale After This, Then I've Got Nothing For You" by Todd Flemming if you want to get into Apartment Syndication, because then you'd need "Multifamily Millions" by David Lindhal. Maybe you wanna get into note investing so then I'd recommend "Real Estate Note Investing" by David Van Horn

;)

Want a high paying job in REI? Start wholesaling lol

Keep your living situation the same. There's many options for someone just starting, and since you have solid income and credit, pretty much all those options are available for you. For someone like me, who was financially irresponsible when I was younger, I had to find ways to get involved w/out using my own credit. I sure as heck didn't have steady income as far as a mortgage lender would be concerned. I started with wholesaling, because it didn't take much money, pretty much no money, and I didn't have to use my credit. If I did have good credit and the financial requirements of a loan met, I probably would have purchased a 3-4 unit property and house hacked it. Having a good financial record as far as time at your job, income, and good credit, the possibilities are literally endless for you. I'd really consider my goals, short and long term, and then figure out which strategy matches that most. In the end, we all just wanna become the private money, and there's a bunch of ways to make that happen, just gotta pick which way you wanna go!

Much luck and success to you. Please reach out if I can be of any assistance to ya!

Duncan

how's the flip market here in Austin? is it really possible finding distressed properties in such a nice area on a regular basis? or are investors mainly offering on MLS properties until someone just happens to accept?

@Ryan Kelly competition I’m not worried about. You asked what I’m looking for and I gave you that criteria. I know what opportunity I’m looking for. My post was to see if what I’m looking for is in the Austin market, b/c if not I have no problem sticking to doing deals virtually in CA and MI, and find another market to invest in for long term.

Tight cashflow is definitely not something I wanted to hear, as creating substantial passive income is my ultimate goal.

@Ryan Kelly id really like to BRRR some 2-4 unit properties. Off market preferably, with some visible signs of distress. Doesn't seem like something too common round these parts, at least judging off what I've seen the couple weeks I've lived here.

@Jordan Moorhead I am in the 78728 zip. Haven’t seen a distressed property yet lol at least not what I consider distressed coming from the Midwest.

Is anyone here investing in Austin, TX? What's the play here? Are flips where it's at, or are ppl stocking up on rentals due to the Apple building and Tesla building going up? What strategies are working the best here? I was considering purchasing properties and renting by the room, after listening to a recent BP podcast. Is anyone doing this, renting by the room, and having success w it in the Austin area?

TIA