All Forum Posts by: Julia Lyrberg

Hey Chris, welcome to the community! Starting with an owner-occupied multifamily is a great strategy—house hacking can really help you build equity while keeping your living costs low. Albany and the surrounding areas have some solid opportunities for this. I’d recommend looking for properties that already have stable tenants or need minor updates to increase rents down the line. Also, keep an eye on local zoning and landlord-tenant laws—they can vary quite a bit.

It sounds like you've done a lot of groundwork, which is great! If you're looking for ongoing, tailored guidance, hiring an advisor or mentor who can work with you through your own path might be more valuable than a course focused on specific strategies. This way, you can avoid costly mistakes and get personalized advice as you navigate deals. Just make sure that whoever you choose align with your goals and have the expertise to back it up.

What an amazing achievement!

Best of luck breaking ground on your projects—excited to see you hit that 1,000-unit goal!

Sounds like a great opportunity in Greenfield! Replatting and renovating could definitely add value, but working with someone who knows the local zoning and permitting processes will be key. I'd recommend reaching out to a local investor-friendly agent or contractor with experience in that area. You might also connect with the local REI groups in Indianapolis—they're often a great resource for referrals and advice. Best of luck with the project!

Columbus, OH could be a great market, especially for out-of-state investors looking for more affordable options. Start by checking out neighborhoods with good job markets and population growth. Connecting with local property managers and agents there can give you a better feel for the area and help you find deals. It’s also a good idea to reach out to other out-of-state investors to get tips on building a reliable team to manage things remotely.

If you're not looking to move and want to keep your VA loan for a future property, pulling equity from your current home could be an option. A HELOC or cash-out refinance might be the most flexible, as you could tap into the equity without disrupting your investments. However, consider the higher interest rates and make sure the rental property you're targeting can cover those costs. If you're patient, saving up for another year is the least risky approach and gives you time to research the right deal. Ultimately, it depends on how quickly you want to act and your comfort with leverage.

Hi Landon, 
A common mistake to avoid is underestimating costs or timelines—always budget for unexpected expenses. Focus on high-impact areas like the kitchen and bathrooms, as these often add the most value to a home. Also, prioritize repairs over aesthetics if anything structural or foundational needs attention.

If you wait until it’s a rental, you might be able to depreciate the remodel costs over time, which could be a great tax benefit. However, consider whether the upgrades will help attract higher-paying tenants or reduce vacancy rates, which might justify doing the work beforehand. Consulting with a tax professional can help clarify how and when to maximize tax benefits based on your plan.

Walking the property before closing is definitely worth the cost to avoid bigger headaches later, especially with flipped homes where the quality of renovations can vary. For inspectors, ask about their experience with investment properties, typical issues in the area, and whether they recommend sewer scopes, especially for older homes or properties with non-PVC pipes. Checking property tax records is a good idea—frequent turnover might indicate investor issues, but it’s not a dealbreaker if everything else checks out. BRRRRs are tough for new investors, especially Out Of State, without a reliable team and renovation experience. For move-in ready properties, turnkey companies offer convenience but often come at a premium, while working with an agent might save money if you’re hands-on.

Hi Tiffany - Welcome to the BP community! House hacking a multifamily property is a great way to start in real estate, and your plan to live in one unit while renting out the others is smart. With $50k, you might be able to get started using an FHA loan, which typically requires a lower down payment, as long as you're planning to occupy the property.