All Forum Posts by: Jake Stimmel

@Ryan Canfield

Thanks for the candid advice. I can't wait to get started. I'll let you know how it shapes up! 

Did you end up doing most of the service calls and maintenance yourselves or did you hire a PM straight away? 

@Louise A.

Thanks so much for the message Louise! It was very sweet of you to reach out. I'm very excited about the strategy, and from everything I've read it's a great strategy for new investors to get their feet wet. There is one issue I'm fighting with. The town I'll be investing in is mostly blue-collar with a lot of C areas, some B, and almost no A. There are 4-plexs available for around 120K, but I'd be in a C/C- area, whereas there are duplexes in the B area for around 80-100K. I would have higher cash flow with the 4-plex, but I'd be in a rougher neighborhood with more headaches. With the duplex the cash flow would be lower, but I would probably experience better appreciation. My question is which situation is more manageable? 

@Ayodeji Kuponiyi Thanks for the recommendations and hyperlinks; I'm doing all of the above and really finding a lot of value! 

Thanks for the advice @Aaron Ormiston. Wholesaling would definitely be a place holder for my true goal of developing a large buy-and-hold portfolio. I agree that finding mentors and other successful investors is the key to my long-term development. That's one of the great things about BP; it's easier now than ever to connect with other investors. Thanks again!

Thanks @Marlon Wilson. I'm enjoying everything there is to offer here!

Thanks @Jack Butala for the warm welcome! The podcast is actually what got me hooked on the site; I've learned so much in such a short period of time thanks to Josh and Brandon. 

Hi everyone! 

My name is Jake Stimmel and I'm a senior in Biology at ISU, but living in the Champaign/Urbana area. I've had an interest in REI for a long time now, but didn't feel I had the know-how or money to get started. I started listening to the BP podcast a few months ago, and -after getting sucked into the rabbit hole of the BP forums and loving all the great content out there - I am getting a game plan together. I'll be starting dental school in about a year, and my plan is to house hack a small multi-family for 4 years of dental school. From what I've read it's a great way to get started and it really resonates with me. The other idea I've been tossing around is being a part-time wholesaler in the Bloomington/Normal area over the next year while I finish up school. That way I'd be a little more seasoned in the RE world when I start house hacking. I'm just not sure it's the kind of thing you can be successful at with only 10-15 hours/week. Any advice would be appreciated!

I can't wait to meet other like-minded investors and contractors in the area and to share ideas! Thanks everyone!

-Jake