All Forum Posts by: Jared Hottle

Lincoln is a great city! Excited to see you get after it

It sounds like you have a lot of experience in real estate and a clear plan for how you would like to use your savings to get started in investing. Here are a few tips to help you get started:

1. Do your research: Research the real estate market in the Lincoln area to get a sense of what homes are selling for, what type of homes are in demand, and what type of returns you can expect from investing.
2. Set a budget: Determine the total amount of money you have available to invest, including the $50k you have saved, and create a budget that includes all of the costs associated with buying and renovating a home, such as the purchase price, renovation costs, and holding costs.
3. Seek out advice: Consider working with a real estate agent or a financial advisor to help you navigate the real estate market and make informed decisions. They can help you identify potential investment opportunities and provide guidance on the best ways to finance your investments.
4. Be prepared for the unexpected: Renovating a home can be a complex and time-consuming process, and it's important to be prepared for unexpected expenses that may arise during the renovation. Make sure you have a contingency plan in place to cover any additional costs that may come up.
5. Take your time: Investing in real estate can be a long-term commitment, and it's important to take your time and make informed decisions. Don't be afraid to walk away from a deal if it doesn't meet your criteria or if the numbers don't add up.

Overall, it's possible to buy and renovate a home with your savings, but it will require hard work, patience, and careful planning. Make sure you do your research, seek out advice from professionals, and take the time to make informed decisions. Good luck!

ongratulations on your inheritance and the recent purchase of a rental property! Here are some tips for investing your $150,000 in real estate:

1. Consider multiple options: Consider investing in different types of properties such as single-family homes, multi-family units, or commercial properties to diversify your portfolio.
2. Conduct thorough research: Do your due diligence by researching different markets, property types, and rental demand in the areas you are considering. Consider factors such as employment growth, population trends, and local economic conditions.
3. Work with professionals: It's a good idea to work with real estate professionals such as a real estate agent, property manager, and accountant to help you navigate the real estate market and make informed decisions.
4. Consider cash flow: When evaluating properties, consider the potential for positive cash flow, which is the amount of rental income that exceeds the costs of owning and operating the property. Positive cash flow can help ensure that your investments are profitable in the long run.
5. Be patient: The real estate market can be volatile, and it's important to be patient and avoid making impulsive decisions. Take the time to research and make informed decisions, and consider seeking the advice of a financial advisor to help you create a well-diversified investment strategy.

Remember, investing in real estate can be a long-term commitment, and it's important to consider all aspects of the investment, including risks and potential rewards, before making a decision.

Here are a few tips for financing a fix and flip property as a veteran investor with bad credit:

1. Private Investors: Private investors can provide you with the capital you need to finance your fix and flip project. You can look for private investors through your network, online platforms, or real estate investment clubs. Be sure to create a solid business plan and present it to potential investors to demonstrate your experience and the potential for a strong return on their investment.
2. Hard Money Lenders: Hard money lenders specialize in lending money to real estate investors. They typically provide financing for fix and flip projects, and their loans are based on the value of the property rather than your credit score.
3. Home Equity Line of Credit (HELOC): If you have equity in your primary residence, you can use a HELOC to finance your fix and flip property. A HELOC is a line of credit that you can use as needed and repay when the property is sold.
4. In general, it's a good idea to explore multiple financing options and choose the one that works best for your specific situation. Before making a decision, it's important to carefully consider the terms, interest rates, and repayment schedules of each option to ensure that you can make the repayments on time and minimize your risk.

Congratulations on taking the first step towards investing in multifamily real estate! Here are a few tips to help you in your search:

1. Determine your investment goals: Before you start your search, it's important to have a clear understanding of your investment goals, such as cash flow, appreciation, tax benefits, and so on. This will help you make informed decisions about the properties you are considering.
2. Research markets: Research the real estate market in the areas you are interested in investing. Look for market trends, vacancy rates, and rental demand, as these can all impact your investment.
3. Evaluate properties: When evaluating properties, consider factors such as the condition of the building, the location, and the local market conditions. It's also important to have the property professionally inspected to identify any potential issues.
4. Hire a professional: Consider working with a real estate agent or property management company to help you find and evaluate properties. They can provide valuable insights and expertise to help you make informed decisions.
5. Consider financing options: Look into financing options such as a conventional mortgage or a commercial loan. Work with a lender to determine the best financing option for your investment goals.

Good luck with your search!

Networking, driving for dollars, daily consistent action and follow up until the lead is dead.

Yes, there are several online resources that provide information on rental real estate market trends and rental property data for various locations. Here are a few popular options:

1. Zillow: Zillow provides real estate market trends and data, including information on rental rates, property values, and other key metrics for various neighborhoods, cities, and states.
2. Rentometer: Rentometer is a rental market analysis tool that provides rental rate comparisons for specific properties and neighborhoods based on real-time data.
3. RentCafe: RentCafe provides rental market data and insights, including information on average rental rates, occupancy rates, and other key metrics for various neighborhoods, cities, and states.
4. Yardi Matrix: Yardi Matrix is a commercial real estate research tool that provides market insights and data on various aspects of the real estate market, including rental trends and property performance data.

It's important to note that while these resources provide valuable data and insights, it's also important to physically inspect the properties and consider local market conditions and factors unique to each location.

I would not over think it. Getting a card for the points makes sense if you pay it off each month. Once you are big enough and have a team in place considering getting a business card with authorized users may also be a good idea but do not let it hang you up early.

Yes and I love it. Since they are living in your home you can be more restrictive on who you accept then if not. I would try to stick to grad students or visiting professors or other workers at the college (admission counselors, athletic coaches, interns, etc) 

1. Study and understand the real estate laws and regulations in your state, as they vary from state to state.
2. Get hands-on experience by working as a salesperson or an assistant to a licensed agent to gain a deeper understanding of the industry and the daily responsibilities of a real estate professional.
3. Take practice exams to assess your knowledge and identify any areas where you need to focus your studying. Consider enrolling in a pre-licensing course to help guide your studies and prepare for the licensing exam.

Great post! I completely agree with all the points you mentioned. Real estate investment can be a great way to generate passive income and build wealth, but it's important to approach it with a level of caution and forethought. By being aware of these common mistakes, investors can make informed decisions and maximize their chances of success. Thanks for sharing this valuable information!