All Forum Posts by: Kristin Rodriguez

I'm in the process of doing this myself with a SFH (townhome) I plan on making the half bath in the basement a full bath and rent out the basement and atleast one room on the upper level to cashflow. I'm so excited to begin this journey. Next year I hope to purchase a duplex or triplex and rinse and repeat!

Great information! Thank you

@Sammy Lyon Amazing! Thank you so much for sharing your journey! Great advice and info.

@Keith Perkins Hi Keith, I have actually and spoke to a few Realtors about it. I wouldn't cash flow at all on this property. I could keep it and earn equity possibly but the mortgage is pretty high in my opinion and I would need to come out of pocket a few hundred $$ possibly each month. 

@Aaron K. Thank you Aaron, that does sound like a plan. A House Hack now would add quite a bit of time to my daily commute but may be worth it just for a year. 

@Jonathan Greene Thank you so much for your input. I've done some "driving for dollars" and I look on Auction.com and the MLS frequently I have never done a flip myself. I have friends and family that have bought properties and flipped them and made a nice return. They always say the first one is the hardest! That is actually what I am having a hard time figuring out. should I do a live in flip and use a FHA 203K loan, buy a property with cash from the Auction and then use a hard money lender to pay the renovation cost. These are things I absolutely need to continue to thing about and make a plan.

Hello BP fam! I have been studying real estate investing via Podcasts, books, mentorships, etc. for quite some time. I think I am beginning to get analysis paralysis! I will soon be in the position to make moves and need some advice from some Pro's! I am selling my primary residence and wish to use a portion of those proceeds to start my real estate investing journey. I have a good W-2 job making over 6 figures, my DTI is pretty low, my credit is decent. I will have about $20k-$30k in liquid. I wasn't sure if I should do a moderate flip first in a nearby City to get some additional capital. Then possibly house hack a fixer upper duplex with a FHA loan for a year and then scale form there. I don't wish to use all of my liquid cash. My ultimate long term goal is to own multiple multi-family units and eventually replace my W-2 income. What would you suggests my first should be? How quickly do you believe I can scale with minimum leverage? Thank you

@Rebecca McDonald I'm a newbie here as well and I knew exactly what you were referencing when you stated you didn't want to go back to a 9-5. I read through the comments and you mentioned you and your husband have a home. You may be able to get a line of credit or do a cash out refi to use for investing. Since your husband has a W-2 he can get the property. One good flip flip or BRRR investment could give you some additional capital. Good luck, you got this 💪🏼

Amazing! You have accomplished so much in just 10mths. Congratulations!! Mind sharing how you funded and structured your first deal/rental purchase and how you were able to scale so quickly?

Such a great episode. I will most likely listen to it again tomorrow! Just a boatload of great info, I love BP!