All Forum Posts by: Jared Hottle

Kristen looks like you are already an agent so that is a great way to get experience. Things like property management, leasing agent come to mind but I think doing a small BRRR project or finding a partner who will finance everything while you manage everything from rehab to leasing could be an awesome way to start. Not money in hand persay but the knowledge you will get and the equity you will start building will be well worth it.

Are you able to house hack your primary residence? That will be a great way to get started seeing if you like investing. If you are coming up on a year on your primary residence I would start looking to move in with a low down payment loan and renting out your current property. 

I agree with JD on this one. Get a couple quotes and see if you can cut out and patch the driveway and I would leave the color of the house. It does not look in bad shape and you are getting apps and filling easily. Renters do not really care much about the color in my experience as long as it is in decent shape. If the concrete cannot be patched I would look at replacing that now and painting the doors and moving on from there.

Furnished Finder has been the best for us but Airbnb and VRBO have also been great resources. Have had a couple word of mouth or Facebook groups but hard to systematize that.

Is it horizontal and a block foundation? This happens in my area alot due to negative sloping and clogged gutters and downspouts. Usually it is a significant expense 3,000-10,0000 depending on how you fix it and how big it is but I am definitely not afraid of it. I would see if I could get a foundation person in your area to come take a look before the offer and factor it into your price or get an offer contingent on a foundation inspection.

I think you should use the criteria you have set-up however if you have no one who meets that criteria apply then I would reach out for some more information. I have never taken cash in a money market account as income but if she meets all other requirements and gets good references and no one meets the income requirement I think it would be worth it to have a discussion with her. 

Finding contractors is the toughest for me. Lots of guys out there but not enough that are fair priced, reliable with good problem solving skills. The trades have been easier to find  

I think I would channel some @Scott Trench set for life and look for an older reliable vehicle and sell what you have especially if you could break even or make money on it in the current market conditions. This will give you freedom and peace of mind as you look to expand your portfolio and more runway potentially as you look to expand your rental business. 

Greetings from Northeast Iowa! I think if your cash is limited I would start with a house hack. Are you still living in the town you went to college? If so I would look to rent out rooms to older college kids or young professionals. I would buy a place every year for a few years until you build up some properties/equity. In the meantime start saving up for a down payment and start to explore using a local bank to finance a BRRR property.

I have found deals 3 ways:

1) On the MLS (especially now) so find a great, investor-minded agent using Biggerpockets and have them set you up on a drip for what you are looking for

2) drive or walk neighborhoods you would like to invest. Make note of the properties that are in need of repair or ones that are multifamily (multiple meters is a give away) go to the tax assessor website, see who owns it and reach out either call, social media, or write a letter

3) Network with other investors, small town bankers, property managers, contractors, etc the more you put into the universe what you want the better chance you have of someone helping you get it. Many PMs, small bankers, contractors, will have the in with who is burnt out and who wants to sell so go regularly to your Real estate meetup and try to get coffee with at least one of these people weekly and follow up