All Forum Posts by: Jeff Hite

If you haven't heard the news by now, they are no longer on the show. I did the same thing I would click an episode and if wasn't them I would go on to the next one. Sometimes I would try to listen if Henry Washington was on but it's pretty brutal without Rob and David.

It was funny I was driving the other day listening and I kept trying to find an episode with them and almost every single one had become someone else and I was like hmm...did I miss something? Then a couple weeks later (today) I saw the news on Rob's IG.

It's sad, I'm sure BP thinks it will dip a little bit and then come back like it probably does with I'm sure all of the few host changes they've had. But I don't see it coming back under the seemingly "new" format which is mostly news, industry professionals (mortgage, lending, agent, etc). I hope they get back to having every day investors who built a portfolio from the ground up, house by house and can talk about how they did it and the different strategies and routes they took that others can learn from and deploy as well.

Probably not enough cash flow there especially having to put it under management to rent it with the current rent rates and the mortgage. I would only rent it if you could put throw a chunk of cash at the principle and then recast the loan to knock the mortgage down. You've gained a lot of equity so it's a win win whatever route you decide to take.

Thank you for your service.

Why not just do both? But if you had to pick one I would say agent just because you have more flexibility and a higher earning potential. Most property managers start out managing their own properties and then start to pivot into opening a property management company to manage others properties as well. If you were to go into property management for someone else it would probably be in the form of a 9-5 behind a desk at an apartment complex or something along those lines with fairly poor compensation in most cases.

Do you have any living expenses or do you live with family? Be patient and just stack cash. In a few months you'll be done with school and ready to hit the ground running. It sounds like your current job works well with your school schedule so it may be beneficial to just ride it out there until you're done with school.

It is definitely possible to replace your income but it will take a lot of time and at least a couple of years to do so. Their is a reason 87% of new agents are out of the industry within 5 years after getting their license. The real estate industry is very competitive and EXTREMELY expensive with  large overheads and you will need to spend a lot of money on marketing if you want to build it into a successful career. I know agents who spend upwards of $10k a month purely on marketing, not including association fees, mls dues, etc.

If you are competitive, driven, and willing to put in the time, hustle-you will be fine. Just know what you are getting into and have a plan in place with your financial ducks in a row before you make that leap!

Must live in the home for at least 1 year before renting it or any of that. As far as selling it I really don't think they will have any problem with it. If they do just say you had to either sell it or default on the loan and I don't think they will care too much at that point. I would hope they have bigger fish to fry than someone selling a home 4 months early.

Originally posted by @Jeff Hite:

I would see if he could possibly meet somewhere in the middle to minimize the damage. But it really depends on your personal situation and how taking $1300 less/mo will effect you. Might be better for you to just take the $1300 until May so you can try to get a tenant lined up in the mean time and be better off than if it were to sit vacant.

I would have a really hard time making him move out and uprooting his kids during the school year like that.

Another thing to add is it would really depend on the person as well. I like to help people out and be nice, but just make sure you aren't getting walked all over and being used! Because people can and WILL take advantage of you if you let it get out of hand. I don't know all of the details, but this is one exception I would probably make in allowing something like this to happen.

I would see if he could possibly meet somewhere in the middle to minimize the damage. But it really depends on your personal situation and how taking $1300 less/mo will effect you. Might be better for you to just take the $1300 until May so you can try to get a tenant lined up in the mean time and be better off than if it were to sit vacant.

I would have a really hard time making him move out and uprooting his kids during the school year like that.

Welcome to BP! Love seeing new folks joining who live in the great buckeye state!

Not a chance, not worth the headaches, maintenance, and most of all, the liability. If you have no other options, just make sure you have a good attorney!