All Forum Posts by: Grace Wang

@Adam Kruse I get where you're coming from, but I would just ignore it. If you had an out of state rental, there's no way you would know this is going on. 

Some annoyances just come with the territory. I'd be more bothered if she had multiple people staying over, but +1's are very common, and likely does not make a huge dent on utilities. If it's something you'd like to address in the lease, just take this as a learning opportunity to add an additional clause to your lease, and don't extend her lease since it bothers you. 

@Nick Weisend LVT will be your best bet for tenant durability, but I guess the type of flooring should depend on the type of neighborhood the duplex is in, in addition to the type of tenant you are hoping to attract. 

If it's in a middle-tier rental neighborhood, I'd probably just opt for LVP or LVT for the entire unit. Easy clean-up, durable, and still looks pretty nice. Hope that helps

@Jonathan Stanley Hey there, there are a lot of direction you can go in real estate. Will it be wholesaling? Being a real estate agent? Flipper? etc?

Good place to start is to learn and absorb as much information as you can. See what resonates with you, and THEN you can make an educated decision. Here are a few books you could start with:

• - Rich Dad, poor dad by Robert Kiyosaki
• - Set for life by Scott Trench
• - The House Hacking Strategy by Craig Curelop
• - Investing in Real Estate with no (and low) Money Down by Brandon Turner

Once you have more direction on where you want to take your real estate journey, make sure you do NOT overthink anything. Taking action is where the progress is at!

@Jon Albar check on your city's short term rental laws. Each city's regulations will differ. Google "Town Name State Short term rental laws" and that will help you determine what you need to do. And when in doubt, call the city and ask

@Justin Brown 

What's the worst thing that could happen if you asked your landlord? Having them say "no"? If you didn't get the blessing to airbnb, you could always continue to live in your Landlord's property and find another landlord that allows for airbnb arbitrage. Many people have done this!

Honestly I would just ask your landlord for permission and be transparent with what you plan on doing. Different cities will have different regulations for short term rentals, so make sure to check up on those along the way.

Now...If you were to proceed without asking your landlord, you may be in for some consequences if the landlord were to find out. It may be a good idea to evaluate your risk-reward tolerance. hope this helps!

@Zinyor Babiker Are you looking to buy and hold? Or fix and flip? House hack? BRRRR? Short term rentals? Long term rentals? In state or out of state?

Educating yourself is the #1 thing you can do for now. As you continue learning and educating yourself through books, BP Forums, podcasts, and networking, you may feel drawn to one type of rental over another. From there, you'll learn to ask more specific questions on the forums. 

Some books I'd recommend you start with:

- Set for Life by Scott Trench

- House Hacking Strategy by Craig Curelop

- Rich Dad, Poor Dad by Robert Kiyosaki

- Start with Why by Simon Sinek

Hope this helps!

@Thomas Schieffer Depends on your risk tolerance.

Let's just think hypothetically -- Say you bought the house hack now. What if a hefty unexpected expense of came up? You would likely need to spend extra cash out of your reserves, borrow money from family/friends, pull a line of credit/put it onto a credit card. Would you be okay dealing with that stressor? 

If I were in your situation I would come up with an extensive list of pros & cons to (1) paying off student loans now and buying a house hack later (2) house hacking now and paying off loans later. if the pros significantly outweigh the cons in either scenario, go with that one.

Hope that helps! 

ALSO IMPORTANT: I would chat with a lender if you haven't already. Your student loans MAY impact your ability to qualify for a loan. I would do this first, then create the pros/cons list

@Monica Lopez To gain experience, I'd recommend you reach out to Realtors/investors in your area from the "network" tab of BP. You can also attend local meetups to meet more people. In the mean time, think about what value you can bring to a more experienced investor or Realtor. Is it social media growth? Cold calling, marketing, website design, FB/Google/Instagram ads? etc etc etc!

Remember... a relationship won't be sustainable if you're doing all the "taking" and not enough "giving". Being a person of value will give the more experienced person an incentive to help you out. good luck!

VanEd. Super helpful & passed the first time through

@Kyle Danielson

The agent representing you has the fiduciary duty to keep your best interest in mind. If your agent knows you would be competitive at at least $50k over asking on this particular property, he/she would NOT be doing you a favor to have you submit an offer only at $5k over list price. It wouldn't be worth the emotional headache, time, and effort to build you up and to submit an offer if he/she KNOWS you probably won't win the contract. 

Here in the Denver market, it has been pretty typical to go significantly over asking price. OBVIOUSLY  use your intuition, but if you interviewed your agent well and know they have a good track record,I don't think you have anything to worry about.