All Forum Posts by: Heather H.

Read @Brandon Turner's book, "The Book on Rental Property Investing." When you're done with that one, if you want to, read "How to Invest in Real Estate with No and Low Money Down" (also by Brandon Turner). They are super clear and easy to follow without being condescending at all - they'll teach you step-by-step how to do your numbers, what strategies to consider (including house hacking), and how to finance deals. I've read a lot of real estate books, and these two (especially the first one I mentioned) are by far the most thorough, helpful, and easy to follow in my opinion. 

Happy investing!

I think @Brandon Turner from Bigger Pockets became a cash flow (BRRRR) investor because of the crash because he was mid-way through a flip that he wouldn't have been able to get out of after prices fell. The story is in one of his books. I don't remember if it was in "The Book on Rental Property Investing" or "The Book on Investing in Real Estate with No and Low Money Down" but both are great!

Hi @Alina Trigub, that's a great post - thanks for sharing it! Based on the descriptions, it seems to me that we might be approaching the top of the Expansion Market Cycle, which is where my concern comes from. Although we can insulate ourselves from a downturn by doing our best to get properties that will cash flow regardless of hard times, it would still be a shame to buy at the top.

Hi @Holly Williams, @Corby Goade, thanks for your input!

I completely agree the money can be made in any market, and of course I do have a very strict set of criteria and am conservative in running my numbers for exactly the reason you said, Holly - to make sure I don't get into a position where I have to sell at the wrong time and can afford a slump in rental demand. That said though, it would be a shame to buy at a peak then get stuck with little or negative equity, even with tenants covering the expenses and generating a bit of cash flow. But you make a good point - as long as we're not over-leveraged or dependent on appreciation, holding on through a downturn wouldn't be such a problem (assuming prices rise again eventually).

Corby, I like your reminder that we can't time the market, and your suggestion to have at least two exit strategies - although of course those depend on a certain property value, and would necessarily change if values were to tank badly enough.

@John Moorhouse 

Most of what I would tell you has already been said, but I would like to make one point. A few people on this forum have suggested that adult life is harder/ less fun/ more boring than high school, and that you will wish to have these days back. I want you to know that that does NOT have to be true. The next two years seem long, but they are worth sticking out. And as soon as you're out in the world (diploma in hand), opportunities will open up before you, because you will have the freedom to pursue the career and life you actually want (and surround yourself with people you actually find interesting). Of course you will have more responsibility as an adult, but with that responsibility comes the opportunity to shape your future, invest in real estate, do interesting side projects, and build your life and career(s) in the direction you choose (which is much easier with an education, and surrounded by the educated people you meet along the way).

Adult life has been so much more fun for me than high school ever was. Remember to have fun now for sure, but don't let anyone scare you into thinking these are the best days of your life - they absolutely do not have to be. 

I just found out that two people from my high school graduating class are both entering REI - one renovating a property to rent out, and one doing their first flip. Neither of these people have any background in real estate (as far as I'm aware). We're in our early-mid 30's.

Obviously these are just two cases, but they seem representative of an increasing interest in interest in real estate in society more generally. I can't decide whether this is an indication of a positive trend of more people understanding the value of real estate investing, whether we're just getting to an age where a lot of people are starting to consider retirement planning, or if it is an indication of the "every man and his dog" mentality and a sign of irrational exuberance?

What do you all think? Does this remind anyone of 2006?

My husband and I started investing in 2011. We want to keep buying but I'm getting a bit concerned about the state of the market...

@Sean Mcmahon if you're going to invest from out of state and work with a realtor, you will probably find that you'll need one who understands investors anyway, which often means they are an investor themselves. Realtors who don't specialize in working with investors will often misunderstand your requirements and get tired of working with someone who isn't going to make a quick, emotional decision over a super cute fireplace or kitchen backsplash or whatever. So you could view it as more of a necessity than a choice. Plus, having a great investor-friendly realtor who knows the local market, understands your strategy, and isn't afraid to share their wisdom and experience can make all the difference between succeeding or not, and they can open your eyes to opportunities and strategies that you would have never considered. I recommend finding one who "gets" your strategy and who you find it easy to talk to, and who isn't afraid to speak their mind and teach you stuff. A good one will become like a valuable partner, even a friend.

Hi @Jake Harris, a while ago you mentioned that you guys were waiting to hear about making the Essex Modern City area a quiet zone for trains. Would you mind sharing an update on that? 

Thanks a lot!

@Account Closed What about asking both of them to work with you for the summer? The 13 year old is probably too young to get a job at McDonald's or anywhere else anyway, and that way they would have the opportunity to learn from you and start to develop and understanding of your business and how to get into real estate. Then when they're a bit older, they could also get part time jobs if they want to.

I was recently listening to "The Millionaire Real Estate Investor" and in the foreword, the author tells a story that I guess is meant to be cute, about his son (11 years old or maybe a bit younger, I don't remember) asking him to teach him how to invest in real estate. The author replied something like "when you're old enough, nothing would make me happier." I was so disgusted by his failure to engage with his kid at the time that the kid actually expressed an interest, it was actually difficult listening to anything he had to say. I didn't even finish the book.