All Forum Posts by: Kameron Yellin

@Tyler Muckelroy, getting started in REI is a great way to create wealth for you and future generations. My favorite quote is if you make $50k learn how to live off of $25k, if you make $75k, learn how to live off of $25k.... When you get out of school get a W2 job (my opinion). During your first year learn how to budget, continue to live by college boy (cheap) life. Educate yourself, BP has a ton of books on REI and save what you don't NEED to live. If you make $5k, learn to live off of $1k and save $4k. Put that $4k into an account and just save it. Spend $50 on books each month for a year. At the end of a year you could have $47k and have read 36 books. Focus on education in the first year. Meet investor realtors/ (if you want) work for one PT. @Gregory Schwartz is a great dude, find contractors and learn which ones are investor friendly @Colton Cook here in CS, and find a mentor who can help you learn from experience and mistakes.

If you graduate at 23, househack duplexes in your 20's, at the end of it you could have 14 units before your 30th birthday. Just think what that could do for your family (congrats btw).

I personally am househacking here in CS, limiting my personal overhead by over $500/m. Next year I will move into my other duplex and househack that one saving me an additional $500/ month, all while keeping my personal expenses at $900/month and sending $4k into savings/m. I'm 31 and just getting started. You can do it, focus on delayed gratification and being content with what you have. If you want to connect just send me a message.

Networking : College Station , Texas is a good thread (little biased, I made it) just getting started.

Cheers,

-KY

I am looking for private money investors in the area, banks, etc... Anyone able to help?

Just got my upstairs unit leased.... I went from a $1100 a month housing cost down to a $500 a month housing cost. VA note for a year and then moving on to the next one.

OP: Sounds like a great deal. My first investment was a duplex in College Station that I house hacked with a VA loan. It wasn't as nice as yours though. Are you concerned at all about the long term outlook for College Station's rental market?

@Joseph Cacciapaglia my personal opinion on the longterm is this. As long as Texas A&M is around rental units will still be needed. Local government just got involved by taxing Short terms and are starting to crack down on "Ag Shacks" (student rentals in neighborhoods). I believe this will only consolidate the rental markets long term to specified multi-family areas driving rents up. I do believe this is going to take 10 years to get done. Locals are pushing students out of their neighborhoods by means of HOA's and local laws by limiting last names in a house, cars on the street... etc. Short story long.... lol, no, not concerned. College Station is my long term retirement play.

For those interested in a networking meetup would y'all want to do a zoom meet up or in person? It sounds like we have some from out of town. Any suggestions?

Just wanted to reach out to those in College Station, TX. I hope this helps bring us all together. Cheers!

@Ross Smith I have one for you. reach out to me if you still need him. email preferred.

@Gregory Schwartz and @Joseph Cacciapaglia. Done and done. Just started it. Forum created VA househack in College Station, TX

Just a quick start up post on the VA house hacking forum. I personally used this method to get started. Dealing with early-access addendums and MPRs as set by the VA, I hope this forum is a way to help everyone get into and move forward towards financial freedom.

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $167,000
Cash invested: $20,000

BRRRR deal, VA house-hack.

Purchase:
Bought: 167k, CAD value 212k,
Repairs: 20k
ARV: 220-240k

Renovation: Updated floors from carpet to LVP, prime and paint, painted cabinets white, updated fixtures and appliances

Rents from: $615 per unit to $995.

What made you interested in investing in this type of deal?

Net-worth increase. House-hack. Retirement fund.

How did you find this deal and how did you negotiate it?

MLS, realtor

How did you finance this deal?

VA note, self funding for repairs.

How did you add value to the deal?

Forced appreciation, wedge deal.

What was the outcome?

Pending

Lessons learned? Challenges?

Not enough characters available... Everything from how to work with realtors, banks, contractors and PM's.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Yes. DM for details.