All Forum Posts by: John Oh

I am not in your market, but I know of a friend who uses a single family with many rooms to rent out to his friends who is very successful at that. I must say though, this situation is only ideal when you rent to trusted friends who will pay their rent on time. Most of the time, you should avoid renting to friends and family.

Renting a room out would work for experience, but financially would not provide the returns that house-hacking a multi-family though.

The BRRR strategy, though I've never tried it, seems to provide phenomenal results. I'd look into it if I were you @Michael Orr!

It does depend what types of real estate you would like to get into. It also depends on what you're good at. For me, I would use that money to market, as that is what I can do best with little risk involved. I think you should consider your long-term plan along with your short term goals. 

For now though, I would stay away from multi-family because it seems the market is moving away from that.

-Jonathan

Welcome Mewded! I know you'll accomplish your short-term goals easily.

Meeting local investors is fairly simple. A quick Google search of "Philadelphia REIA" would give you results, as it did for me. Meetings are a great place to go at first, but I hope you meet investors who you can trust that will guide you along the right path.

-Jonathan

Interesting and enlightening post from all members. Thank you @Benjamin Math for posting the question. 

Good luck, and I hope you found your answeer. 

-Jonathan

This is a great topic, @Ryan Tucker. 

I truly believe that this is possible though, but not yet. Though many investors currently do not do business on social media, I believe most of the younger up-and-coming investors are on social media without a doubt. One day, these investors will become active buyers. Social media is where the attention is. However, is it worth the time for an investor? In my opinion, not yet.

I know a realtor who primarily runs his business on Facebook using the principles of Jab, Jab, Right Hook. However, his market is first time homebuyers who are less savvy about the market and are likely to find value in his posts. 

Investors on the other hand, I don't think they're there yet. Biggerpockets does count as social media as well, and I think BP is where most of the investors spend their time. Right now, IMO Biggerpockets is the primary social platform for investors. 

-Jonathan

Hey @Keaton Allred

I don't think you need a mentor. Most have an idealistic vision about what a mentor is, and this doesn't reflect reality whatsoever. 

However, go to REIAs and make it a goal to talk to a few people! Be honest and get to know them. Do this a few times, and you'll find people you click better with. Get to know these people. Don't ask them for help --- ask them how YOU can help, with the intention to learn.

Hope this helps,

-Jonathan

Hey @Sunny Amin! 

Nice to meet you. I know you'll find what you're looking for here on BP. It's important not to give up. Good luck Sunny!

-Jonathan

Good luck Jose, hope you've found someone. If not, I sent you a DM just in case. 

-Jonathan

Hey @John Smeltzer, it's great to see someone in PA. I'm in the Philadelphia area, and it seems you'll be successful with your investments! Your background as a CPA must be incredibly useful. I think you can target other like-minded investors who would want to work with you about their taxes, as I'm sure it will be very valuable! 

Thanks for the intro John!

-Jonathan

Hey @Mimi King! 

Best of luck with your goals! It seems like you've got a bright future ahead.

-Jonathan