All Forum Posts by: Grace Wang

@Lauren Zuend I would agree with much of what @Bryan Balducki said. One thing I'd add to keep in mind about FHA loans is the inspection could make your break your deal. To my knowledge, FHA inspections have higher standards to maintain a decent standard of living in the property...so in other words, the property probably shouldn't be a complete crap hole otherwise you may not secure a loan on it. good luck!

@Barbara Wilson-Scranton Meet people face to face..this will probably be the best route. If there are local REI meetups near you, start attending those. If there aren't any, create one. To be honest, sending emails can be a weak strategy and your volume needs to be extremely high in order to get some valuable responses. By attending meetups on a regular basis you will create relationships, and relationships are the backbone of real estate investing. good luck

@Ermyas Sereke Hey Ermyas, my suggestion is to reach out to some local investors via attending local REI meetups and chat about best strategies. You can also find some investor-friendly real estate agents via Biggerpocket's Network tab, and have a conversation with them. Start local! hope this helps

@Johnathan Watkins the best ways are connecting with other local investors or talking with an investor-friendly real estate agent about best areas. Chatting with people who are doing what you’re wanting to do is the best way to find out! A good first step is checking on meetups.com or in the “network” section of BiggerPockets to find meetups and agents. Good luck!

@Ashton Patterson hey here are my thoughts!

1. MLS fees, if you want to be a REALTOR you'll pay those fees, brokerage fees (depends for each brokerage). You'll spend a few thousand per year, but if you close 1 deal a year you should be able to earn those fees back through agent commissions

2. This isn't really an issue, but you need to disclose you're a licensed agent when submitting an offer for yourself. On our team we don't compete with clients on offers, so that could be another downside.

3. You could join a team that provides leads to their agents. Some states require licensing for being a property manager position..so that's another option.

4. Lead generation is the most important thing you can do. Being a real estate agent is not easy, and you will work around the clock, but being able to help people purchase investments and homes is extremely rewarding. If you decide to get your license, just keep your current job until you're comfortable enough to quit. good luck!

@Jason White Facebook is where I have the most luck in the denver area.  List on both Facebook marketplace or Facebook groups designated for rentals

@Daniel Kevin Lara For room prices check out Facebook groups and Facebook marketplace for comparables. To get comps for nightly stays for STR, check out what other airbnbs are going for in the area. You can also call several short term rental management companies and explain why you're calling. I bet they'd be happy to help

@Steven Mitchell heck yeah dude! Glad you finally got this one closed after some tough roadblocks. Congrats!

@Cody Gray This has happened to me in a house with 5 roommates. Unless it's clearly one person's fault, just fix it and eat the cost. The upside of rent-by-the-room is the cashflow, but the downside is there will be more wear and tear. You could also get some sort appliance warranty that will save you the cost of service calls. 

@Jason Malabute I went to school there, heck yeah! One of my good friends invests there and has several duplexes listed on airbnb. One of the duplexes she bought during the pandemic. To my knowledge, her investments have been killing it despite the population decrease. Obviously, chatting with some local investors will help you better gauge the market and how their investments are doing! I would also investigate the amount of people who travel up to Indy or surrounding areas to work. hope this helps