All Forum Posts by: Joshua Noth

@Nike Onyechi Most areas in Austin offer strong growth, especially those that you listed. Cash flow in the first couple of years tends to be tricky in many parts of Austin with the traditional 20% down for a SFH, but it's definitely not impossible.

Specifically to those areas you listed: poised for great growth in the coming years.  Leander sees new developments constantly, and Hutto is no different.  Especially with the Samsung factory coming to Taylor, both it and neighboring towns (such as Hutto, Round Rock, parts of Pflugerville) are likely to see huge growth.

Welcome to BP @Austin Stoltzfus, pleasure to meet you!  That seems like a great way to spend some time, learning as much as you can before making that first step! MFH house hack is a solid way to get started on investing

@Queena Brosas Welcome to BP, great to have you here.  Hopefully that house hack works out well for you - wishing you the best of luck!

@Charles E. Bruckman, welcome to BP! Both @Abel Curiel and @Robert Williams make great points.  I have always heard this reiterated many times and will echo it: give the mentor something worth their while.  Is it finding them deals? Maybe you're great with digital design, or marketing, or personal outreach - it could be anything.  Have something you can offer of value back to them!

Welcome to BP @Sean Jackson. Those are very honorable goals that you have set out in front of you. In order to achieve those things you set out to do, keep doing a lot of what you are already doing (or starting to do). Network with people on this site, local investors near you/the markets you are interested in, etc. Read, listen, and immerse in REI - books, these forums, podcasts, anything you can find.

Lastly, to echo some of the points made: you may not be able to purchase a property today or tomorrow, maybe not even a year. Keep learning about REI while building capital to make that investment purchase, so when you do have enough in the bank you are well-enough prepared to make that step. Wishing you the best of luck!

Welcome to BP @Arthur T. Gallop, it's great that you've made that first step. Learn, learn, learn! There is a TON of information to discover with REI, so try to focus on the stuff that really applies to you or that interests you. Do some background learning on your own at first, then get in touch with investors/Realtors/lenders/contractors in the market you are interested. BP is a great resource for all of those things. Wishing you the best of luck.

Welcome to BP @Firas Naji! Wishing you the best of luck in the STL area.

Welcome to BP @Xavier Nguyen! There's no perfect amount of time to spend studying before making a move. Some people feel prepared enough after 1 week, others after 1 year. It's just important to remember that you may never feel "100% ready". Read/listen/dive into the strategy you are planning to use, as well as some general REI know-how, and take TANGIBLE steps. Whether that is analyzing a property, contacting a Realtor, a lender, etc.

The more you can hold yourself accountable, the better!  You got this!

Hey @Monica Vasquez! And welcome to BP!

You could write a book about financing options and the best route to take (and people have).  Generally speaking, you are correct: conventional loans have more red tape behind them - bank statements, credit reports, appraisals, etc. At the end of the day though, all that is done for the safety of insuring the loan.  That is why these loans can be much lower than those rates you mentioned above.  Obviously, much of the following is dependent on the individual, but non-owner occupied investments can be in the 3-4% range (this rate can even go lower if it is owner occupied!)

You are absolutely right that markets can act very quick - which market are you looking to invest in?  Maybe reach out to a local lender in that market to learn more details about it.

Also, is there any reason why the traditional financing route won't work?

Things are definitely different, but that is to be expected.  As with most large-scale, multi-faceted entities (such as RE in general), things find "new norms" constantly.  @Ian Walsh put it very succinctly: "there is always an ebb and flow".  One decade to the next has new trends, strategies, figures, patterns, so it's "expected" that homebuying now is different than 30 years ago.  Is it bad? Good? That's for every investor/homebuyer to analyze through their own respective lens.