All Forum Posts by: Jeff F.

hi @Charlie Nghiem

You need to think about what specific skills you have and how they'd fit in flips v rentals. You also mention you cant afford 20% down on a place in austin - that means you wont be flipping locally. How will you accomplish that, and where will you be flipping? 

Have you looked into house hacking?

Yes, you can do this with FHA. Sounds like you would want a 203k as mentioned above.

The key here is they are on the same tax parcel 

Source: I did this exact thing (minus rehab) in may 

@Mark Ferguson - Awesome and congrats - if you're ever up in cheyenne you should stop by for an REI Meeting. Or if you have a local one in greeley i'd love to come down and pick your guys' brain.

Hi @Brian Pleshek

Are you including set-asides for repairs? Would you be opposed to living in an extremely low cost-of-living area for a while while you firm up your situation and decide how you want to invest? Is there anything else you could do while waiting?

What exactly are your goals, and what are your monthly expenses? How much do you need? How much is your freedom worth?

Hi @Michael Acosta -

Welcome to BP. There are a ton of resources here, and you'll meet plenty of awesome people. I know NYC is horribly expensive right now (and always) but you may want to look at using an FHA loan to house hack a 2-4 unit building - which you can get into with as little as 3.5% down, and could leverage downpayment assistance programs. Hustling isnt just working harder, a lot of the time its about working smarter - and part of that is knowing what resources are available to you.

Good luck 

@Matthew Ranucci Finding hard money lenders in wyoming is tough - you need to go to one with a national reach. 

Hi @Nathaniel Banks - No problems yet. if/when something comes up, I'll decide if I want to try and fix it myself or call someone else to fix. 

Hi @Samantha N.,

Typically, if you're planning on buying a duplex/triplex (and living on site) it makes no sense to hire a management company. If you're not planning on living on site, then it's probably worth it if you've got no interest in being a landlord. 

I currently am owner-occupying a 4 unit building that I purchased earlier this year. I have virtually no issues with my tenants. I set it up to collect rent payments online (via cozy.co) and do regular yardwork, where I occasionally see them. Other than that, we exchange pleasantries and I leave them be. 

Excellent  

@Bob E. Once this deal closes (im having challenges with a refi at the moment) I'll probably do an investors deal diary on the re positioning of the asset. 

@Bob E. The building is in Wyoming.