All Forum Posts by: Joshua Janus

Hey @Tim Sipowicz. I cold call non owner occupied 1-4 units every day and have found sellers willing to sell at 70% ARV. I take these deals and take them to an investor, they buy it and I get a small commission. I'm trying to do this over and over so I can eventually buy one of the properties myself with the compounded commission. Hope this helps, Josh

Are you looking to be really involved like a self managed house hack? Or more of a passive income experience? I'd figure out where you are on that spectrum and that will determine whether out of state or local would be the ideal first deal. 

Hey Nate! Definitely read the book suggestions above and figure out a way to get a mentor or be around someone in the real estate industry. I have been cold calling at a brokerage and have learned so much being in that environment. This can lead to you getting your real estate license which will give you a lot of advantages when purchasing property. Just be a sponge and absorb!

I would agree with Jody and say the VRBO or AirBNB is the best route you can take. It will provide you a new experience, some cash flow and an intro to renting a property to someone. Have you considered house hacking a duplex or multi family?

It definitely is! The FHA loan limits were recently raised as well for 2022.
"For most of the U.S., the loan limits for FHA mortgages will increase in 2022 to $420,680 for most counties, specifically in areas where 115% of the median home price is less than this limit" -Fox Business

House hacking is when you live in unit of a multi family property and rent out the rest. BiggerPockets has a great article on it: https://www.biggerpockets.com/...

If you want to house hack, make sure to have 2 consecutive years of tax returns so you can qualify if you are self employed. I am not a tax professional and this isn't advice, it's just a problem I ran into. I was forced to delay my house hack a year due to this. Do whatever you can to build your credit, employment history and savings. All of these factors will pay off disproportionately over time compared to what it took to get them and is worth the time. Do you have any friends, family or a potential mentor that are involved in real estate in any way? Finding a mentor, doing some cold calling or just being around those will give you some better experience than just books which are great but not all that is necessary. 

Should've waited for him to say he's licensed. @Tristan Colborg

Hey David! Do you have a lot of equity built up in that SFH? That cash could be used for a future property where you are moving to. That interest rate is awesome. Have you considered house hacking? Combining that with your current home rented out could produce a nice boost to your annual income plus new tax advantages.

Are you getting a return that you are satisfied with? If so, find more solid tenants at the same price point and keep it going. I like the refinance strategy that Jason mentioned.