All Forum Posts by: JooYung Choi

Definitely recommend. It's also a checkbox for amenities so I'd say it's worth the $20. 

Hey Chris,

I would argue that most of the pre-licensure courses are pretty similar. I think the true learning begins when you join the right brokerage. If you have resources you can turn to for accurate information, you are positioning yourself for more success and growth. As far as investing goes, youtube university, podcasts, books until you have solid base understanding. Then mentors and finally diving into investments yourself and learning while doing.

Good luck! Feel free to message me if you have any questions!

Hey Dax,

Unfortunately, if the property is as good as you say, it will get picked up. You want to position yourself so that when you do come across a deal you can act on it quick.

Looks like for your situation, your DTI is probably the biggest thing holding you back. Do you have anyone that can cosign your mortgage for you?

Capital would be the second thing but if you have access to gift funds (ie: family money), that will solve this problem.

If you can figure out those two items, you actually might be able to purchase this home. If not, I recommend to save diligently, build your W2 income and keep analyzing deals! There will be other deals.

Good luck!

Hey Lauren,

Great that you are looking for a live in renovation for your first home. If you are approaching this method, you have to really know your market ARV and renovation costs, which will help you determine your purchase price. Finding a perfect BRRRR tends to be a lot harder in a neighborhood with strong demand. Homeowners know what their house is worth!

Don't rule out buying a home that's already renovated and starting to house hack right away. If you know the work done on the house is done correctly, wouldn't you rather buy that house with a 30 year fixed mortgage as opposed to buying an older home and spending $$$ on renovations and hoping to hit an ARV so you can refinance. There's too many variables to consider especially for your first home!

Definitely speak to a lender to get an accurate assessment (loan estimates are free). But if I were to estimate for you, I would say expect to pay around 5% of the purchase price total (3.5% down payments and ~1.5%-2% closing costs)

Red Flag for me. Stay firm on your price, especially since you are saying that your rents are lower than market. You could consider negotiating after you know they are qualified tenants.

I would look for vacation destinations with established short term rental regulations.

STRs are still profitable in 2025, as long as you are aiming to be in the top 10%. Anything less and you will not be as profitable as you think. This means superhost status, guest favorites, consistent 5 star reviews, etc. On top of that, you should be using automation tools like price labs and hospitable to effectively run your business.

Hey Jackie, not a lender, but you should be able to use 75% of rental income for your primary residence towards your DTI. You would need a lease, security deposit and first month's rent. Highly recommend consulting an experienced lender to help you navigate your next purchase!

Hey Vaughn,

House hacking a multi family unit is of course a lot easier. You are offering the entire unit to your tenant. Finding tenants for a single family house hack will be a little bit more work but not impossible. As long as you're advertising your rooms in the proper channels, finding a qualified tenant is very possible. I would recommend exploring the multi family realm first if househacking is your plan. If you are up for it,  you could even try renting out one unit AND renting out bedrooms in your unit. That can possibly set you up for paying little to none for your mortgage!

Good luck!

Hey Andrew!

Awesome that you are diving into real estate while you're in college. Working on that construction project will give you lots of valuable lessons you rarely will find in books. Podcasts and books are great too, don't get me wrong, but I have found that I learned the most when I am actively going through it. Don't be afraid to dive in when it comes time to start investing for yourself! Analysis Paralysis is very real.

Good luck!