All Forum Posts by: Grace Wang

@Cam Mauldin Like Ronald mentioned about house hacking, I think that would be a great option for you. I'd recommend you read Craig Curelop's book "The House Hacking Strategy" and Scott Trench's "Set For Life" as starting points. "Rich Dad Poor Dad" is also a very popular book that brings people down the rabbit hole of passive income and financial independence. Happy to have you here on BP and thank you for your service!

@Crystal Wilson Have you checked out the Network tab on BP? There may be some good fits there. Otherwise head to some meetups and meet PMs there. You can also message me, I have a rent-by-the-room PM, but not sure if that fits your needs.

@Parker C. Snow Hey Parker, which areas of Colorado are you looking in? Property managers don't typically specialize in the entire state. I might be able to connect you to a PM depending on where you are looking

@Kevin Taylor Hey Kevin, Colorado is a sweet place to be. I got my license about a year ago, so the experience is still fresh! Would be happy to chat or answer any questions :) 

Which school are you taking classes through? And are you looking to get your license to use for yourself, or to help other people buy/sell?

@Kari Wiederrecht No need to pretend or hide anything. Hopefully you're working with a lender who understands your house hacking or financial independence goals, but if not then there's no need to share, pretend, or hide anything. What you're doing is legal and thousands of people have done it before. Nothing to be worried about as long as you stay in your primary residence for the required amount of time ;)

@Steven Jimenez Hi Steven! I would recommend you house hack while in college..if you'll be living with your buddies anyways, why not have them pay you instead of another landlord? Have you read Craig Curelop's book "the House Hacking Strategy"? or Set for Life by Scott Trench? These are such great books for when you're just getting started.

Other than educating yourself, I would consider getting your real estate license. Maybe you can work at a PM company outside of classes, or be a showing agent, or possibly a wholesaler? Immerse yourself around likeminded people and start developing relationships with those in the real estate industry. Check for local meetups, and if there aren't any just start one. If you have any questions feel free to message me. Good luck!

@Kevin Gerbie I'd also read self-help books, business, psychology as well. Real estate is all about business and relationships. Some I recommend in addition to Wale's suggestions:

• - Start with Why by Simon Sinek
• - Think and Grow Rich by Napoleon Hill
• - ABCs of Success by Bob Proctor
• - Emotional Intelligence by Daniel Goleman
• - Thinking, fast and Slow by Daniel Kahneman

Good luck!

I would start out buying your first home and house hacking it. If you can purchase a duplex, that also works. Living in a pricey market also has its advantages -- you may have a greater tenant pool, higher rent increases, etc. Before getting into my first house hack I was in a similar situation as you, just not in Austin! Even if your location poses more challenges with higher barriers to entry, don't let that discourage you. All you need is a little creativity and you can still make It work for the most part. If you have any questions I'd be happy to chat some time!

@Chris Isabell Attend local meetups and find people there. Cultivate those relationships, as relationships are everything in real estate. I'd recommend you figure out what you can offer an experienced investor that they would find valuable. Is it sourcing deals, social media, cold calling, etc.? Honestly it'll be rare to have someone take you under their wing unless the relationship is mutually beneficial, OR they are just that generous with their time. 

Flat fee is the easiest from my experience. When I market my listings, I write something like "ALL UTILITES Included - 1 bedroom rental" or something like that, so it's the first thing people see. I've found that to be pretty helpful, and it allows the monthly rates to stay consistent even if a room is vacant throughout the year. If you were to evenly split utilities there may be more arguments over who used more water, if someone was out of town, etc. Hope this helps!